What is republic act no 1379?

An act declaring forfeiture in favor of the state any property found to have been unlawfully acquired by any public officer or employee and providing for the proceedings therefor.

What is the term for properties unlawfully acquired by public officials or employees?

b.) Unlawful acquisition – shall refer to the acquisition by a public officer or employee of funds or property which is manifestly out of proportion to his salary as such public officer or employee and to his other lawful income and the income from legitimately acquired property.

What is forfeiture money?

Forfeiture, under the terms of a contract, refers to the requirement by the defaulting party to give up ownership of an asset, or cash flows from an asset, as compensation for the resulting losses to the other party.

What has jurisdiction over all crimes under RA 7080?

13, 1993.) prosecutions under this Act shall be within the original jurisdiction of the Sandiganbayan.

What is Republic No 3828?

3828. AN ACT TO AMEND CERTAIN SECTIONS OF REPUBLIC ACT NUMBERED TWO HUNDRED NINETY-SIX, OTHERWISE KNOWN AS “THE JUDICIARY ACT OF 1948,” AND FOR OTHER PURPOSES.

What are the conditions for forfeiture?

A company can forfeit its shares only when the following conditions are satisfied:

• Authority to Forfeit: The power to forfeit must be expressly given in the Articles.
• Default in Payment of Calls: The shares can be forfeited only for the non-payment of calls and not for the default in payment of any other debts.

What are the penalties under RA 1379?

Penalties. Any public officer or employee who shall, after the effective date of this Act, transfer or convey any unlawfully acquired property shall be repressed with imprisonment for a term not exceeding five years, or a fine not exceeding ten thousand pesos, or both such imprisonment and fine.

What is RA 7080 all about?

Republic Act No. 7080 defines the crime of plunder as the accumulation of iII- gotten wealth through a combination or series of overt criminal acts in the aggregate amount of 1’50,000,000.00 by a public official. judgement of the crime of plunder, to be allowed to hold office once more.

What is a final order of forfeiture?

If no third party files a timely petition, the preliminary order becomes the final order of forfeiture if the court finds that the defendant (or any combination of defendants convicted in the case) had an interest in the property that is forfeitable under the applicable statute.

What are the 3 types of property seizure?

Under Federal law, there are three (3) types of forfeiture: criminal forfeiture, civil judicial forfeiture, and administrative forfeiture.