Prohibited Acts
- Failure or refusal to account for public funds or property under their charge.
- Making personal use of such funds or property, either wholly or partially.
- Abstracting or misappropriating public funds or property.
- Any act of malversation related to such funds or property.
- Permitting, through abandonment, fault, or negligence, any other person to abstract, misappropriate, or make personal use of these funds or property.
Penalties
- Imprisonment ranging from not less than two months to not more than ten years upon conviction.
- Possible additional fine up to the amount corresponding to the value of the misused or missing funds or property, at the court's discretion.
Evidentiary Presumption
- The absence or failure to produce public funds or property when demanded by an authorized examining officer constitutes prima facie evidence that the missing funds or property were put to personal use by the person in charge.
Permanent Disqualification
- Any person convicted under this Act is permanently disqualified from holding any public office or employment of any kind within the Philippine Islands.
Repeal of Conflicting Laws
- Articles 390, 391, and 392 of the Penal Code of the Philippine Islands are repealed to the extent they conflict with the provisions of this Act.
Effectivity
- The Act took effect immediately upon its passage on October 3, 1907.
Legislative Expediency
- The enactment was expedited due to public interest, following the procedural rules established by the Philippine Commission prior to the law's passage.