REPUBLIC ACT NO. 2012 - AN ACT INCREASING THE AUTHORIZED CAPITAL STOCK OF THE MANILA RAILROAD COMPANY OF THE PHILIPPINE ISLANDS TO ONE HUNDRED FIFTY MILLION.PESOS.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. To enable it to fully rehabilitate its lines and equipment, to extend its road and to attain the purposes and objectives for which it was created, the authorized capital stock of the Manila Railroad Company of the Philippine Islands is hereby increased from fifty million pesos to one hundred fifty million pesos: Provided, That forty million pesos shall be for the railway project in Mindanao and thirty million pesos for the extension of the Panay Railway from the Municipality of Cuartero, Capiz, to the Municipality of Pandan, Antique.

SEC. 2. This Act shall take effect upon its approval.

Approved, June 22, 1957.