RA 6977 (Magna Carta for Small Enterprises) Section 14

Section 14

SEC. 14. Penal Clause. The Central Bank shall impose administrative sanctions and other penalties on the lending institutions for non-compliance with provisions of this Act. In addition, the president, members of boards of directors, and other officers of the erring lending institutions shall be individually liable for imprisonment of not less than six (6) months and a fine of not less than Five hundred thousand pesos (P500,000.00) each.

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CitationRA 6977 (Magna Carta for Small Enterprises) Section 14 (LawPlayer, data as of 2026-07-04)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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