PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
REPUBLIC ACT NO. 1485 -AN ACT
AMENDING CERTAIN SECTION OF REPUBLIC ACT NUMBERED FOURTEEN HUNDRED,
OTHERWISE KNOWN AS THE "LAND REFORM ACT OF 1955" |
Section 1.
Section eleven of Republic Act Numbered Fourteen hundred is amended to
read as follows: "Section 11.
Lands subject to purchase. � The Administration, acting for and on
behalf of the Government, may negotiate to purchase any privately-owned
agricultural land when the majority of the tenants therein or occupants
thereof in case of abandoned land petition for such purchase."
Sec. 2. Section sixteen of the same Act is amended to read as follows: "Section 16.
When proper. � The Administration may initiate and prosecute
expropriation proceedings for the acquisition of private agricultural
land subject to the provisions of section six, paragraph (2), upon
petition of a majority of the tenants or occupants thereof in case of
abandoned land and after it is convinced of the suitability of such
land for subdivision into family-size farm units, and that public
interest will be served by its immediate acquisition, when any of the
following conditions exists:
"(1) That the
landowner falling within the terms of section six, paragraph (2),
continues to refuse to sell after all efforts have been exhausted by
the Administration to negotiate for its purchase; or
"(2) The landowner is willing to sell under sections eleven and twelve but cannot agree with the Administration as to the price and/or the manner of its payment." Sec. 3. Paragraph (3) of section twenty-three of the same Act is amended to read as follows: "(3) At cost �
shall mean the purchase price plus six per cent interest per annum
which includes the one per cent per annum for administration expenses,
plus actual expenses for survey, subdivision and registration. The cost
shall be paid on the basis of a twenty-five-year amortization plan.
Sec. 4. This Act shall take effect upon its approval.cralaw Approved: June 16, 1956 |
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