Act No. 3014

: The primary purpose of Act No. 3014 is to provide the method for investing sinking funds for the retirement of bonds issued by the Government of the Philippine Islands, provinces, municipalities, and cities.
: The Insular Treasurer is responsible for investing the funds of all sinking funds for the retirement of bonds under this Act, subject to the control and approval of the Secretary of Finance.
: Sinking funds must be invested only in securities of the Government of the Philippine Islands and securities of the Government of the United States.
: The amount in the sinking fund includes credit for the face value of bonds of the issue pertaining to the fund, whether these bonds are cancelled or held in the fund.
: Yes, such bonds, whether cancelled or carried in the sinking fund, are regarded as outstanding within the meaning of the law fixing the amount of the sinking fund.
: The manner of investment must be approved by the Secretary of Finance.
: All acts or parts of acts inconsistent with the provisions of this Act are repealed.
: This Act took effect upon its approval on March 8, 1922.
: The Governor-General has the authority to approve the cancellation of bonds upon recommendation of the Secretary of Finance.