1 See References in Text note below.
of this title.
2 So in original. Probably should be “Treasury”.
finds that such fund is in excess of an amount adequate to meet future interest and principal payments on all such bonds, he may, with the approval of the Philippine Government, purchase with such excess any other bonds of the Philippines, its Provinces, cities, municipalities, and instrumentalities. For the purpose of this subsection obligations may be acquired on original issue at par, or by purchase of outstanding obligations at the market price. Any obligations acquired by the fund may, with the approval of the Philippine Government, be sold by the Secretary of the Treasury at the market price and the proceeds of such sale and the proceeds of the payment upon maturity or redemption of any obligations held in the supplementary sinking fund, as well as all moneys in any manner earned by such fund or on any obligations acquired by said fund, shall be paid into the said fund.
References in Text

Section 1333 of this title, referred to in subsec. (g)(2), was omitted from the Code.

Prior Provisions

Similar provisions were contained in act Jan. 17, 1933, ch. 11, § 6, 47 Stat. 764.

Amendments

1959—Subsec. (g)(5). Puspan. L. 86–346 substituted “on original issue at the issue price” for “on original issue at par”.

1946—Act Apr. 30, 1946, repealed opening par. and subsecs. (a) to (f), (h) relating to relations with the United States pending complete independence, and trade relations.

1939—Act Aug. 7, 1939, amended section generally.

Statutory Notes and Related Subsidiaries
Effective Date of 1946 Amendment

Amendment by act Apr. 30, 1946 effective May 1, 1946, see section 512 of act Apr. 30, 1946, set out as an Effective Date note under section 1354 of this title.

Termination of Acceptance of Deposits of Export Taxes

Authority of Secretary of the Treasury to accept deposits of proceeds of export taxes in accordance with section 1333 of this title terminated on July 1, 1951, under the provisions of act Aug. 7, 1946, ch. 809, § 2, 60 Stat. 901.