Be it enacted by the National Assembly of the Philippines: SECTION 1. Section five of Commonwealth Act Numbered Eighty-three, known as "Securities Act," is amended by the insertion of a new paragraph immediately next to paragraph 8, subsection (a), to read as follows:
"9. Certificates or titles issued to its members by any charitable or mutual aid and benefit society or association, where such society or association is provided with a permit issued by the Treasurer of the Philippines under the provisions of the Administrative Code."
SEC. 2. This Act shall take effect as provided in section eleven of the Administrative Code.
Approved, June 9, 1938.