Your psychological dilemma of hoarding Philippine Coins might be soon be over as this is now classified as a criminal offense under Philippine Laws. Based on the deliberation of the Lower House on its 3rd reading, House Bill 441 which was authored by Representative Sonny Collantes, its alleged violators might face the penalty of an 8-year imprisonment with a huge fine of Php300,000. In the said law, if the offender is classified under corporate partnership, a judicial figure or an association for that matter the penalty shall be incurred upon its liable officers. However, banks and charitable institutions are totally exempted from the proposed bill.

The hoarding of Philippine Coins is now a criminal offense under House Bill 441.

The hoarding of Philippine Coins is now a criminal offense under House Bill 441.

Meanwhile, those confiscated Philippine Coins will be subjected to forfeiture proceedings in favor of the government itself. This is considered as a stern move to protect the interest of the country’s growing economy. Therefore, this proposed bill about the hoarding of Philippine Coins is highly commendable.

Category: Interesting

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