Reversion of Cash Balances to National Funds

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Republic Act No. 2361: Reversion of Cash Balances to National Funds

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Title Source: Supreme Court: Reversion of Cash Balances to National Funds

Law: Republic Act No. 2361

Decision Date: Jun 20, 1959

Republic Act No. 2361 allows for the transfer of cash balances from special funds to the general funds of the national government when the purpose of the fund has been fulfilled or abandoned, as certified by the head of the office and attested by the Auditor General.

Law Summary

Conditions for Certification and Attestation

The head of the office administering the fund must certify that the purpose for which the fund was created is fulfilled or abandoned, or the balance is not needed.
The Auditor General must attest to the truth of this certification.

Non-application of Contrary Laws

Any existing law provisions that contradict this Act are overridden.

Effectivity of the Act

The Act takes effect upon approval.
Date of approval is June 20, 1959.

END