Section 96Sec./Art. 96

Payment of lost or fraudulently encashed treasury warrants or checks. When any check or warrant is lost, stolen or destroyed, the issuing officer may issue a duplicate check or warrant which shall be paid under regulations of the Commission in regard to issuance and payment and upon the execution of a bond to indemnify the issuing agency in such amount and with such security as the Commission may require.

Treasury Warrant or check encashed under forged or fraudulent indorsement shall be replaced by the Treasurer of the Philippines even before the recovery of the equivalent amount under rules and regulations that the Commission and the Department (Ministry) of Finance shall prescribe.

The Clearing or Payment of Treasury warrant and check paid by bank or other holder in due course and subsequently lost may be allowed under regulations of the Commission and the Department (Ministry) of Finance.