Restrictions on No-Dollar Imports

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Republic Act No. 1410: Restrictions on No-Dollar Imports

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Title Supreme Court: Restrictions on No-Dollar Imports

Law: Republic Act No. 1410

Decision Date: Sep 10, 1955

Republic Act No. 1410 prohibits the importation of commodities into the Philippines without foreign exchange allocation, aiming to protect the country's dollar reserves and promote dollar-producing industries.

foreign exchange allocation

A

Definition of No-Dollar Remittance Imports

Defined as imports where no foreign exchange allocation by the Central Bank of the Philippines has been made for payment.

Penalties and Enforcement

Imported goods violating the Act are subject to seizure and confiscation without redemption or bond.
Goods in transit or previously imported under no-dollar remittance before the Act’s approval are unaffected.

Criminal Penalties

Willful violation of Section 1(a) leads to imprisonment up to one year, in addition to confiscation penalties.

Implementation and Rule-Making Authority

The Department of Commerce and Industry is tasked with implementing the Act.
It has authority to draft, promulgate, and publish necessary rules and regulations.

Repeal and Relation to Existing Laws

Existing laws or orders inconsistent with this Act are repealed.
The Act does not authorize importation of items already restricted or prohibited by law such as virginia leaf tobacco, garlic, potatoes, and cabbages.

Effectivity

The Act takes effect immediately upon approval, enacted without Executive approval on September 10, 1955.

END