Lawmaker seeks to amend the Revised Penal Code By Charlie V. Manalo 03/05/2012

Lawmaker seeks to amend the Revised Penal Code

By Charlie V. Manalo 03/05/2012

A lawmaker is seeking to amend the 82-year-old Republic Act 3815 or the Revised Penal Code saying the fine component and other values incorporated in the law are still based on the 1930 price index.

Marinduque Rep. Lord Allan Jay Velasco filed House Bill 5768 to adjust the outdated monetary values with a formula utilizing the available data from the National Statistics Coordination Board relating to Consumer Price Indexes.

“The fine component and other values incorporated in the law, the amounts are still based on 1930 prices, the year it was enacted. The massive inflation and devaluation the currency has gone through renders some of the RA 3815 provisions outmoded,” Velasco said..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20120305nat6.html