Republic Act No. 111

: Republic Act No. 111 is entitled "An Act to amend Section Nine of Act Numbered Three Thousand Nine Hundred and Fifty-Two, entitled 'An Act to regulate the sale, transfer, mortgage or assignment of goods, wares, merchandise, provisions or materials, in bulk, and prescribing penalties for the violation of the provisions thereof.'"
: Republic Act No. 111 amends Section Nine of Act Numbered 3952.
: Section Nine requires the vendor or mortgagor to submit a sworn statement containing the names and addresses of all creditors.
: The sworn statement must be registered in the Bureau of Commerce.
: A fee of five pesos shall be charged to the vendor or mortgagor for each sworn statement registered.
: The purpose is to provide transparency regarding the creditors of the vendor or mortgagor involved in the sale, transfer, mortgage or assignment of goods in bulk.
: The fee applies to the vendor or mortgagor of the stock of goods, wares, merchandise, provisions, or materials in bulk.
: The Act took effect upon its approval on June 2, 1947.
: The Senate and House of Representatives of the Philippines in Congress assembled enacted the Act.
: Goods, wares, merchandise, provisions, or materials in bulk are regulated under this Act.