Republic Act No. 831

: The primary purpose of Republic Act No. 831 is to authorize the redemption of Philippine National Bank circulating notes that were declared to have been illegally issued and registered under Republic Act No. 211.
: The redemption is done by exchanging the circulating notes with treasury certificates of the Victory series.
: Yes, the Treasurer of the Philippines is prohibited from paying an amount in excess of one thousand pesos to any one individual or corporation for the redemption of circulating notes.
: No, the Treasurer shall disregard transfers to third parties made after the original deposit and registration and shall only make payments to the original registrants.
: The balance shall be cancelled and forthwith destroyed to prevent fraudulent circulation.
: The Treasurer must make a master record of all registrants throughout the Philippines, including the amounts registered under individuals, their spouses, ascendants, descendants, employees, servants, agents, and corporations or associations.
: Violations are punishable by imprisonment of not less than six months and not more than one year or a fine of not less than five thousand pesos and not more than ten thousand pesos.
: The remaining balance shall be made available for the payment of guerrilla emergency notes as provided in Republic Act No. 369.