Be it enacted by the Senate and House of Representatives of the Philippines in Legislature assembled and by the authority of the same:

SECTION 1. Any law or part of a law heretofore enacted prohibiting the use of the word "national" by any bank, corporation, firm or partnership shall not apply to any national bank organized under the laws of the United States, the name of which is so distinctive that it could not reasonably be confused with the Philippine National Bank.

SEC. 2. This Act shall take effect upon its approval.

Approved, November 22, 1929.