Treasurer's Authority Over Charitable Trusts

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Commonwealth Act No. 434: Treasurer's Authority Over Charitable Trusts

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Title Supreme Court: Treasurer's Authority Over Charitable Trusts

Law: Commonwealth Act No. 434

Decision Date: May 31, 1939

Commonwealth Act No. 434 grants the Treasurer of the Philippines powers over trusts for charitable uses, defines the scope of such trusts, and appropriates funds for the implementation of the Act.

charitable uses

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Definition and Scope of Trusts for Charitable Uses

A trust for charitable uses includes all real or personal properties or funds given or received by various entities, including individuals, corporations, associations, foundations, or other entities excluding the National Government.
Such properties or funds include those acquired through fruits, income, exchange, or substitution thereof.
The uses covered are charitable, benevolent, educational, pious, or other purposes benefiting the public generally, a particular portion thereof, or an indefinite number of persons.

Appropriation of Funds for Implementation

Funds necessary to implement the provisions of this Act shall be appropriated from the Philippine Treasury.
Such appropriations for the fiscal year 1940 and beyond are to be included in the annual appropriation acts.
Utilization of funds is exclusive of those otherwise appropriated.

Effectivity of the Act

The Act takes effect immediately upon its approval.
This ensures the prompt execution and enforcement of the law's provisions.

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