Question & AnswerQ&A (Republic Act No. 8)
The main purpose of Republic Act No. 8 is to authorize the President of the Philippines to enter into contracts or undertakings necessary to effectuate the transfer to the Republic of any property, property rights, or proceeds thereof under the Philippine Property Act of 1946, and to provide for the administration, disposition, and appropriation of funds for such properties.
The President of the Philippines is authorized to enter into such contracts or undertakings.
The President can enter into contracts or undertakings with the Government of the United States or its authorized representative or representatives.
Any property, real or personal, property rights, or the proceeds thereof authorized to be transferred under the Philippine Property Act of 1946.
No, the President is authorized to designate an existing office, agency, or instrumentality of the Government to administer the acquired properties.
The disposition must be made in accordance with existing laws.
Five hundred thousand pesos has been appropriated for the creation of a revolving fund to carry out the purposes of this Act.
The fund is to be drawn out of any funds in the Treasury of the Philippines not otherwise appropriated.
Yes, Section 1 states that the provisions of any existing law to the contrary are notwithstanding, the President is authorized to enter into contracts or undertakings for the transfer of property.
This Act took effect upon its approval on August 9, 1946.