G.R. No. L-7240 - Palma vs. Graciano

The People of the Philippines (plaintiff and appellee) charged Que Po Lay (defendant and appellant) with violating Central Bank Circular No. 20 in connection with Section 34 of Republic Act No. 265.
The Court of First Instance of Manila found Que Po Lay guilty, sentenced him to six months’ imprisonment, a ₱1,000 fine with subsidiary imprisonment in case of insolvency, and costs.

Appellant was in possession of foreign exchange—U.S. dollars, U.S. checks, and U.S. money orders—totaling about $7,000.
Central Bank Circular No. 20 required any person receiving foreign exchange to sell it to the Central Bank through its agents within one day of receipt.

Appellant contended that Circular No. 20 was not published in the Official Gazette before the alleged violation, rendering it ineffective and non-binding.
He argued that Commonwealth Act No. 638 and Act No. 2930 mandate publication in the Official Gazette for any order or notice of general applicability.

Whether Central Bank Circular No. 20 was published and thus legally binding at the time of appellant’s alleged violation.
Whether the question of non-publication of the circular, not raised at trial, may be raised for the first time on appeal.