MALACAÑANG
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER NO. 310
FINALLY REQUIRING THE REGISTRATION AND DEPOSIT OF
BANK OF THE
PHILIPPINE ISLANDS CIRCULATING NOTES
WHEREAS, a number of holders of
Bank of the
Philippine Islands circulating notes failed to register and deposit
their holdings in accordance with the provisions of
Executive Order No. 166, dated
August 20, 1948;
WHEREAS, after all the
Bank of the
Philippine Islands circulating notes registered and deposited under
Executive Order No. 166 shall have
been redeemed, there would be a balance in the amount of ₱13,935 still
available for further redemption out of the sum reserved for the redemption
of Bank of the
Philippine Islands circulating notes;
WHEREAS, it is desirable to retire all
Bank of the Philippine
Islands circulating notes, including those that are still in the hands of
the public; and
WHEREAS, in order that a plan may be devised for carrying out the
above purpose, it is necessary to determine the aggregate amount of
unregistered and undeposited
circulating notes of the Bank of the Philippine
Islands still in the hands of the public;
NOW, THEREFORE, I, Elpidio Quirino, President of the Philippines,
by virtue of the powers in me vested by law, do hereby order and direct:
1. Within a period of three months from the date of this Order
every holder of Bank of the Philippine Islands circulating notes not
previously registered and deposited under
Executive Order No. 166, dated
August 20, 1948, shall present such circulating notes in his possession to
the Treasurer of the Philippines who shall accept such notes, register and
safely keep the same, and issue receipts therefor, stating the names arid
addresses of the persons registering and depositing said notes, the serial
numbers thereof, their denominations, the amount of each denomination and
the total amount.
2. Within a period of one month from the termination of the final
registration and deposit of unregistered
Bank of the Philippine Islands
circulating notes hereinabove provided, the Treasurer of the Philippines
shall submit to the Secretary of Finance a report of the total amount of
said circulating notes thus registered and deposited, and the Secretary of
Finance shall forthwith submit a similar report to the President of the
Philippines.
3. All Bank of the Philippine Islands circulating notes not
registered and deposited as hereinabove provided within the period of three
months from the date of this Order shall not thereafter be accepted for
registration and deposit.
4. The Treasurer of the Philippines, with the approval of the
Secretary of Finance, is hereby authorized to issue the necessary rules and
regulations to give force and effect to the provisions of this Order.
Done in the City of Baguio, this 22nd day of April, in the year of
Our Lord, nineteen hundred and fifty, and of the Independence of the
Philippines, the fourth.
(Sgd.) ELPIDIO QUIRINO
President of the Philippines
By the President:
(Sgd.) TEODORO EVANGELISTA
Executive Secretary