Republic Acts1 min read
Section 20May 23, 2008, Sec./Art. 20
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Section 14 of the same Act, as amended, on Penal Clause is hereby renumbered as Section 19, and further amended, to read as follows:
"x x x"
"Penalties on noncompliance shall be directed to the development of the MSME sector. Ninety percent (90%) of the penalties collected should go to the MSMED Council Fund, while the remaining ten percent (10%) should be given to the BSP to cover for administrative expenses."
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