Philippine Overseas Shipping Act, 1955

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Republic Act No. 1407: Philippine Overseas Shipping Act, 1955

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Title Source: Supreme Court: Philippine Overseas Shipping Act, 1955

Law: Republic Act No. 1407

Decision Date: Sep 9, 1955

The Philippine Overseas Shipping Act of 1955 aims to develop and maintain a well-balanced Philippine merchant marine by providing tax exemptions, financial assistance, and administration of funds for vessel construction and purchase, as well as allowing the government to take possession of Philippine-registered vessels during times of war or national emergency.

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