Republic Acts1 min read
Section 12August 22, 1991, Sec./Art. 12
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Program Period. – The OWI Fund shall operate for not more than five (5) years from the date of publication of the implementing rules and regulations of this Act: provided, that this period may be extended by the President for a period of not exceeding three (3) years upon recommendation of the OWI Fund Board.
Upon termination of operations, the OWI Fund support organization and/or trustee shall nevertheless continue its functions for three (3) years after the termination of the remittance system for the purpose of prosecuting and defending suits by or against the OWI Fund and enabling it to settle and wind up its affairs, but not for the purpose of continuing the remittance, debt-for-note and other operations for which the Fund was established.
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