REPUBLIC ACT NO. 4862 - AN ACT FURTHER AMENDING SECTION ONE OF REPUBLIC ACT NUMBERED TWO THOUSAND FIFTY-TWO, AS AMENDED, (AUTHORIZING THE PRESIDENT TO NEGOTIATE FOR INCREASES IN THE SUBSCRIPTION OF THE REPUBLIC OF THE PHILIPPINES TO THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT AND TO ITS QUOTA IN THE INTERNATIONAL MONETARY FUND).
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. Section one of Republic Act Numbered Two thousand fifty-two, as amended by Republic Act Numbered Two thousand six hundred eighty-six, is further amended as follows:
"SECTION 1. The President of the Philippines is hereby authorized to negotiate for increases in the subscription of the Republic of the Philippines to the capital stock of the International Bank for Reconstruction and Development and to its quota in the International Monetary Fund: Provided, however, That such subscription shall not exceed one hundred seventy-five million United States dollars and such quota shall not exceed the same amount."
SEC. 2. This Act shall take effect upon its approval.
Approved, September 8, 1966.
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