QuestionsQuestions (Act No. 2853)
To extend the provisions of the Public-Bonding Law (under the Administrative Code) to certain employees of companies whose majority of the stock is held by the Insular Government.
Section 314 of Act No. 2711 (Administrative Code of 1917).
Every officer, agent, and employee of the Government of the Philippine Islands, or of companies/corporations where the majority of stock is held by the Insular Government, whose duties permit or require custody of funds or property for which they are accountable.
The nature of their duties must permit or require custody of funds or property for which they are accountable.
It applies to both: (1) officers/agents/employees of the Government of the Philippine Islands, and (2) officers/agents/employees of companies/corporations with majority stock held by the Insular Government.
They “shall be bonded, or bondable,” and their fidelity shall be insured, in accordance with the provisions of the chapter (Public-Bonding provisions).
Justices of the peace are excluded from the bonding requirements of the chapter, except the justice of the peace of the city of Manila (i.e., Manila JP is not excluded).
All justices of the peace are excluded except the justice of the peace of the city of Manila.
Companies or corporations the majority of the stock of which is held by the Insular Government.
Whenever the nature of their duties (1) permits or (2) requires the custody of funds or property for which they are accountable.
It signals there may be other provisions in the bonding chapter that create exceptions or qualifications to the general rule that bondable persons must be bonded and have their fidelity insured.
On its approval, per Section 2 of the Act.
It refers to the fidelity/bonding fund or mechanism under the Public-Bonding chapter of the Administrative Code provisions, where the fidelity of bondable personnel is secured through bonding/insurance.
Yes. The text includes duties that “permit or require” custody of funds or property for which they are accountable.