Regulation of Imports and Import Quotas Act

Three members appointed by the President with Commission on Appointments’ consent.
Members represent Central Bank, businessmen, and consumers.
No government connection except Central Bank member.
Two members receive per diem of 25 pesos per meeting, capped at 6,000 pesos annually.

Created to implement Board policies and administer import controls.
Commissioner appointed by President, serves two years, salary of 10,000 pesos annually.
Commissioner grants quota allocations and import licenses per Board policies.
Responsible for personnel appointments subject to Civil Service Law.
Includes an auditor appointed by Auditor General, paid 6,000 pesos annually.
Auditor audits accounts of Board, Administration, and quota allocations.
Research and Statistics Division created for data support.
President retains direct control and supervision.

Applicants must file quota allocation and license applications with Import Control Administration.
Old importers’ applications sworn with details on past import volume (1946-1948).
New importers must state actual financial resources.

Importing goods without license from Import Control Board is illegal.
Pre-existing imports/orders under old law between April 30, 1950, until Act’s approval require Board approval.

Prime imports: essential goods reduced not more than 40%.
Essential imports: needed for health/material well-being, reduced 40%-60%.
Non-essential imports: not necessary but relate to living standards, reduced 60%-80%.
Luxury imports: primarily for ostentation, reduced 80%-90%, discouraged completely.
Domestic supply certifications by Agriculture and Commerce Secretaries can increase reduction rates.
Board can add new items to control list or reclassify import items.

Raw materials for prime/essential goods’ manufacture if not locally available.
Goods for personal use with no foreign exchange involved.
Supplies/equipment for military, hospitals, Red Cross, schools, charities.
Bartered goods with Philippine exports (except luxuries and insufficiently produced controlled goods).
Religious, price-controlled, rental, lease, or exhibition goods with remittance restrictions.

No import licenses exceeding 1948 CIF value except for agricultural or dollar-saving machinery.
Import quotas use average CIF value from 1946-1948.

Applications for import quota allocations filed within 30 days of quota fixation, extended to 45 days.
Chronological filing with numbered, time-stamped applications.
Applications processed in order received.

Old importers receive quota portion proportional to past import values evidenced by tax receipts.
No importer to receive more than 30% of a quota unless public interest dictates otherwise.
Fractional year importers get proportional allocation.
Government agencies treated as private importers for quota allocation.

30%-50% of quota reserved for bona fide new importers across fiscal years 1950-1953.
New importers required Filipino citizenship or majority Filipino ownership.
Allocations based on financial capacity and business standing.
Unused reserved quota reallocated to other importers.
Preserves rights of U.S. citizens/entities under Executive Agreement.

Only Import Control Commissioner allocates quotas except for wheat flour by Philippine Rehabilitation and Trade Relief Administration.
Quotas and licenses are non-transferable and non-assignable.
Illegal transfer results in quota forfeiture and possible penalties.

Central Bank’s Monetary Board certifies foreign exchange amount available for imports.
Import licenses not issued if value exceeds certified foreign exchange balance.
Exchange cover issued upon license presentation to Central Bank.
If foreign exchange insufficient, proportional reduction among license holders.

Violations punishable by fine (5,000 to 50,000 pesos), imprisonment (2-5 years), or both.
Aliens fined and immediately deported.
Legal persons liable for fines; responsible officers/employees liable for personal penalties.
Officers/employees of Board or Administration violating law face dismissal and possible criminal charges.
Illegal imported goods subject to forfeiture, not returnable.
Bribery by officials warrants additional penalties and perpetual disqualification.
Importing without license disqualifies importer and results in license withdrawal.
Officials/employees with financial interest in import business or aiding violations face penalties and disqualification.

Annual appropriation of 750,000 pesos from the National Treasury for Board and Administration expenses until otherwise provided by Congress.

Board to fix import quotas within 60 days.
Existing quotas and rules remain temporarily with current Board members until successors appointed.
Act takes effect upon approval.