The Anti-Hoarding Bill (Manila Times.net) A lawmaker wants hoarding of Philippine coins to be criminalized and hoarders penalized with eight years imprisonment and a fine of not less than P300,000. Rep. Jerry Treñas of Iloilo City, author of House Bill 1662, or the proposed Anti-Hoarding of Philippine Legal Tender Coins Act of 2013, said hoarding of coins of any denomination is causing an artificial shortage of small denominations of currency in the country, which is seen as the reason for the lack of small change in various establishments. “The unscrupulous practice of hoarding of coins is tantamount to economic sabotage and is creating an artificial shortage of coins,” Treñas said. Treñas said the bill will criminalize the keeping or possession of coins of any denomination exceeding the allowable aggregate value, number of pieces and weight to be determined by the Bangko Sentral ng Pilipinas (BSP) by any person, corporation, partnership, association or any other form of juridical personality.
Posted on: Mon, 16 Sep 2013 12:49:29 +0000
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