Law Summary
Appropriation and Management of the Fund
- An initial amount of ten million pesos is appropriated from the National Treasury for the Public Land Survey and Subdivision Fund.
- The fund is managed and expended by the Director of Lands, subject to approval by the Secretary of Agriculture and Natural Resources.
- Annually, two million pesos shall be released for five consecutive years for the fund's specific purposes.
- Unexpended balances at the end of each fiscal year remain part of the fund and are available for future use.
Flexibility in Fund Allocation
- The President, upon recommendation by the Secretary of Agriculture and Natural Resources, may allocate any portion of the fund to the Bureau of Forestry.
- This allocation supports the classification and delimitation of forest lands within the public domain.
Effectivity of the Act
- The provisions of the Act take effect retroactively from July 1, 1948.