EXECUTIVE ORDER NO. 60

: Philippine Commonwealth bonds are those referred to in specific sections of the Ordinance appended to the Constitution of the Philippines and Public Act No. 127 of the US Congress (Tydings-McDuffie Act), including those issued thereafter under the authority of law.
: No, bonds shall not be receivable as cash for payment of any public obligation but can only be used as security where bonds or other security are required by law.
: They can be accepted as security for public contracts, obligations, acts required to be secured by law, payment of customs dues, taxes, imposts, internal revenue licenses, firearms licenses, and other fees or charges imposed by law.
: They must be deposited with the Treasurer of the Philippines for cases arising in Manila or with the nearest provincial treasurer in the provinces.
: The certificate must be accepted as security, bond, or suretyship in the par value shown, just like a private or surety bond or cash in lieu of bond.
: Yes, coupons maturing while the bonds are in public custody may be delivered to the bondholder upon proper receipt in accordance with Treasurer regulations.
: No, bonds are accepted only when the security may be returned after compliance. They are not accepted for permanent securities like securing a duplicate warrant or check.
: The bonds become the property of the Commonwealth, similar to other cases of default where security has been given.