AN ACT TO REPEAL LAWS OR PROVISIONS OF LAWS GRANTING RIGHTS TO AMERICAN CITIZENS, CORPORATIONS, AND ASSOCIATIONS, UNLESS THEY AFFECT RIGHTS ALREADY VESTED UNDER THE CONSTITUTION OR EXTENDED BY TREATY, AGREEMENT OR CONVENTION WITH THE UNITED STATES OF AMERICA
Section 1. Existing laws or the provisions of existing laws granting privileges, rights or exemptions to citizens of the United States of America or to corporations or associations organized under the laws of any of the States of the United States of America, which are not enjoyed by citizens or nationals of any other foreign State or by corporations or associations organized under the laws of such State, are hereby repealed unless they affect rights already vested under the provisions of the Constitution or unless extended by any treaty, agreement or convention between the Republic of the Philippines and the United States of America.
Sec. 2. This Act shall take effect upon its approval.
Approved: October 21, 1946