Legislative History
| House Bill/Resolution NO. HB06387 |
| FULL TITLE : AN ACT AMENDING BATAS PAMBANSA BLG. 22, AN ACT PENALIZING THE MAKING OR DRAWING AND ISSUANCE OF A CHECK WITHOUT SUFFICIENT FUNDS OR CREDIT AND FOR OTHER PURPOSES |
| ABSTRACT : Seeks to amend the "Anti-Bouncing Check Law" by increasing the prescribed jail term for the offenders who issue unfunded checks OR HAS CLOSED AN ACCOUNT, to an imprisonment of not less than thirty days but not more than SIX (6) years or by a fine of not less than but not more than double the amount of the check, or both such fine and imprisonment at the discretion of the court.Proposes that if the reason for the dishonor of the check is the closure of the account, all the subsequent checks issued shall be deemed dishonored without the need of presentment; States that the penalty shall not be applicable for closure of accounts which are done in good faith or when the parties agreed in writing to revise the terms of payment.Aims that the amended law will have more deterrent effect in issuing unfunded checks, and thereby significantly reduce the number of B.P.No.22 cases file in courts and to strengthen public confidence in checks as a negotiable instrument. |
| PRINCIPAL AUTHOR/S : VERGARA, ROSANNA "RIA" |
| DATE FILED : 2020-02-24 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2020-03-02 |
Abstract
Seeks to amend the "Anti-Bouncing Check Law" by increasing the prescribed jail term for the offenders who issue unfunded checks OR HAS CLOSED AN ACCOUNT, to an imprisonment of not less than thirty days but not more than SIX (6) years or by a fine of not less than but not more than double the amount of the check, or both such fine and imprisonment at the discretion of the court.Proposes that if the reason for the dishonor of the check is the closure of the account, all the subsequent checks issued shall be deemed dishonored without the need of presentment; States that the penalty shall not be applicable for closure of accounts which are done in good faith or when the parties agreed in writing to revise the terms of payment.Aims that the amended law will have more deterrent effect in issuing unfunded checks, and thereby significantly reduce the number of B.P.No.22 cases file in courts and to strengthen public confidence in checks as a negotiable instrument.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.