PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
REPUBLIC ACT NO. 8183 - AN ACT REPEALING REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE AS AMENDED, ENTITLED AN ACT TO ASSURE THE UNIFORM VALUE OF PHILIPPINE COIN AND CURRENCY
REPUBLIC ACTS
Republic of the Philippines
Congress of the Philippines
Metro Manila
Tenth Congress
REPUBLIC ACT NO. 8183
June 11, 1996
Repealing RA 529
AN ACT REPEALING REPUBLIC ACT NUMBERED FIVE HUNDRED TWENTY-NINE AS AMENDED, ENTITLED "AN ACT TO ASSURE THE UNIFORM VALUE OF PHILIPPINE COIN AND CURRENCY."
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1. All monetary obligations shall be settled in the Philippine currency which is legal tender in the Philippines. However, the parties may agree that the obligation or transaction shall be settled in any other currency at the time of payment.chanrobles virtualaw library
Sec. 2. Republic Act Numbered Five Hundred Twenty-Nine (R.A. No. 529), as amended entitled "An Act to Assume the Uniform Value of Philippine Coin and Currency," is hereby repealed.chanrobles virtualaw library
Sec. 3. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in two (2) national newspapers of general circulation. The Bangko Sentral ng Pilipinas and the Department of Finance shall conduct an intensive information campaign on the effect of this Act.
Approved: June 11, 1996
