Powers to Require Information and Conduct Investigations
- Authorized to require individuals to maintain detailed records.
- Power to demand sworn reports or complete information about transactions involving enemy interests.
- May require such information before, during, or after transactions.
- Authority to seize books, records, contracts, letters, memoranda, or other documents.
- Empowered to take necessary measures consistent with the Act for enforcement.
Definition of "National" of an Enemy Country
- Includes foreigners who directly or indirectly waged war against the United States or the Commonwealth of the Philippines.
- Includes foreigners who have aided or given comfort to enemy countries during the war.
- Encompasses foreigners acting or purportedly acting for the benefit of enemy countries or nationals.
- Includes Filipino citizens charged with treason or crimes against national security, whether civil or military.
Rule-Making and Further Definitions
- Foreign Funds Control Office may define terms used in the Act, provided definitions align with the Act’s purposes.
- Empowered to issue rules and regulations necessary for the enforcement of the Act.
- Subject to approval by the President.
Penalties for Violations
- Violations punishable by a fine not exceeding twenty thousand pesos.
- Alternatively, imprisonment of up to ten years.
- Court discretion to impose either or both penalties.
Appropriation for Implementation
- Appropriation of fifty thousand pesos from Philippine Treasury funds for the Office’s operations.
- Expenditure upon recommendation of the Secretary of Finance with Presidential approval.
Effectivity
- The Act takes effect immediately upon its approval on August 9, 1946.