Facts: Que Po Lay is appealing from the decision of the Court of First Instance of Manila, finding him guilty of violating Central Bank Circular No. 20. The charge was that the appellant who was in possession of foreign exchange failed to sell to the Central Bank through its agents within one day following the receipt of such foreign exchange as required by Circular No. 20. He appeals basing on the claim that said circular No. 20 was not published in the Official Gazette and that consequently, said circular had no force and effect.
Issues: Whether there was a need for a publication of the said circular to make it effective?
Whether the respondent is guilty of violating the said Circular 20?
Held: The Court agrees that the laws in question do not require the publication of the circulars, regulations and notices therein mentioned in order to become binding and effective. All that said two laws provide is that laws, resolutions, decisions of the Supreme Court and Court of Appeals, notices and documents required by law to be of no force and effect.
Article 2 of the new Civil Code (Republic Act No. 386) equally provides that laws shall take effect after fifteen days following the completion of their publication in the Official Gazette, unless it is otherwise provided.
Moreover, as a rule, circulars and regulations especially like the Circular No. 20 of the Central Bank in question which prescribes a penalty for its violation should be published before becoming effective, this, on the general principle and theory that before the public is bound by its contents, especially its penal provisions, a law, regulation or circular must first be published and the people officially and specifically informed of said contents and its penalties. The Court further contends that appellant could not be held liable for its violation, for it was not binding at the time he was found to have failed to sell the foreign exchange in his possession thereof.
No comments:
Post a Comment