PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
REPUBLIC ACT NO. 1137 - AN
ACT TO AMEND COMMONWEALTH ACT NUMBERED SEVEN HUNDRED AND THIRTY-THREE |
Section 1.
Section one of Commonwealth Act Numbered Seven hundred and thirty-three
is hereby to read as follows: "Section 1.
Acceptance of, and authority to formally execute, the Executive
Agreement. � The Executive Agreement which the President of the
Philippines and the President of the United States have agreed to enter
into pursuant to Title IV of Public Law Three hundred seventy-one �
Seventy-ninth Congress, approved April thirty, nineteen hundred
forty-six, entitled "An Act to provide for the trade relations between
the United States and the Philippines, and other purposes, as
hereinbefore set forth, is hereby accepted and approved, and the
President of the Philippines is authorized to formally execute the same
on or after July fourth, nineteen hundred and forty-six. For the
purpose of securing a revision of the aforesaid Agreement, without
prejudice to its termination should a mutually satisfactory revision
not be obtained, and notwithstanding the provisions of section two
hereof enacting and continuing in effect as laws of the Philippines
during the effectiveness of the said Agreement sections three hundred
and eleven and three hundred and twelve of the Philippine Trade Act of
nineteen hundred and forty-six, the duty free treatment provided for in
Article I, Paragraph 1, of the Agreement shall apply in lieu of the
treatment provided for in Article I, Paragraph 2, subparagraphs (a) and
(b), to United States articles, entered or withdrawn from warehouses in
the Philippines for consumption, during such period after the third day
of July, nineteen and fifty four, but not after the thirty-first day of
December, nineteen hundred and fifty-five, as the President may declare
by proclamation to be a period during which Philippine articles, as
defined in subparagraph (f) of Paragraph 1 of the Protocol, other than
specified in items D to G, both inclusive, of the schedule to Article
II, will be admitted into the United States free of customs duty, as
such duly is defined in the Agreement, and during which the application
of subparagraph (b) of Paragraph 2, Article II, if it should be applied
by the United States, will not substantially impair the national
economy: Provided, That any such proclamation shall be without
prejudice to subparagraphs (a) and (b) of Paragraph 2, Article I, being
considered as having been in effect for the purpose of applying the
provisions of subparagraph (c) of Paragraph 2, Article I, of the
Agreement."
Sec. 2. This Act shall take effect upon its approval.cralaw Approved: June 16, 1954 |
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