Republic Acts1 min read
Section 5Sec./Art. 5
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Sec. 5 of the same Act is hereby amended to read as follows:
"Sec. 5. Limitation on purchase discounts, lease rentals, fees, service and other charges. - The Monetary Board of the Bangko Sentral ng Pilipinas is hereby empowered to prescribe, in consultation with financing companies and the Securities and Exchange Commission, the maximum rate or rates of purchase discounts, lease rentals, fees, service and other charges of financing companies, and to change, eliminate or grant exemptions from or suspend the effectivity of such rules whenever warranted by prevailing economic and social conditions."
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