Republic Acts1 min read
Section 10Sec./Art. 10
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Liability for Improper Holding of Funds. - Without prejudice to liabilities under existing laws, an Institution that holds funds subject of a disputed transaction beyond the allowable period, or improperly holds funds, as provided in this Act and relevant BSP rules and regulations, shall be subjected to administrative action under Republic Act No. 7653, otherwise known as "The New Central Bank Act", as amended.
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