Act No. 345

Legal Principle/Provision: This section establishes specific days as public holidays in the Philippine Islands.
Key Definitions Introduced:
- Public Holidays: Days recognized as non-business days for legal and commercial transactions.
Important Requirements or Procedures Outlined:
- The following days are designated as public holidays:
  - Every Sunday
  - January 1
  - February 22
  - Holy Week (Thursday and Friday)
  - July 4
  - August 13
  - Thanksgiving Day (exact date unspecified)
  - December 25
  - December 30
Relevant Timeframes, Deadlines, or Expiration Details:
- Any commercial or negotiable papers maturing on these holidays are deemed to have matured the previous day.
- If the previous day is also a public holiday, maturity is considered on the last preceding non-holiday.
Penalties, Liabilities, or Consequences Mentioned:
- There are no explicit penalties outlined; however, failure to recognize these holidays could lead to legal complications in commercial transactions.

Legal Principle/Provision: This section addresses instances where designated holidays fall on a Sunday.
Important Requirements or Procedures Outlined:
- If any designated holiday occurs on a Sunday, the following Monday will be observed as a public holiday.
- Similar provisions regarding the maturity of commercial papers apply, where they would mature the preceding Saturday.
Relevant Timeframes, Deadlines, or Expiration Details:
- This adjustment is specifically applicable to designated holidays that coincide with a Sunday.

Legal Principle/Provision: This section repeals any prior laws that designated different public holidays.
Important Requirements or Procedures Outlined:
- All previous legislation making any other days public holidays is declared null and void.
Relevant Timeframes, Deadlines, or Expiration Details:
- This repeal takes effect immediately upon the enactment of this Act.

Legal Principle/Provision: This section highlights the urgency of the Act's passage.
Important Requirements or Procedures Outlined:
- The bill is expedited to ensure immediate implementation for the public good, per procedural guidelines established in an earlier related Act.
Relevant Timeframes, Deadlines, or Expiration Details:
- The Act takes effect upon its passage, with no specified waiting period.

Legal Principle/Provision: This section states the Act’s effectivity.
Important Requirements or Procedures Outlined:
- The Act becomes effective immediately upon its passage.

Act No. 345 designates specific holidays, including Sundays and notable dates, as public holidays in the Philippines.
Commercial transactions are affected, with provisions for the maturity of bills and notes on public holidays.
Previous laws regarding public holidays have been repealed, consolidating the legal framework under this Act.
The Act was expedited for immediate effectivity, emphasizing its importance for public welfare.