((a)) ** Losses by individual from sequestered credits; loss by banks or other financial institutions**

((1)) The Commission is authorized to receive and to determine, according to law, the amount and validity, and provide for the payment of any claim filed by—

((A)) any individual who—

((i)) on or after , was a member of the military or naval forces of the United States;

((ii)) is the survivor of any deceased individual described in subparagraph (i);

((iii)) was a national of the United States on , and is a national of the United States on ; or

((iv)) is the survivor of any deceased individual who was a national of the United States on , and would be a national of the United States on , if living; or

((B)) any partnership, firm, corporation, or other legal entity, in which more than 50 per centum of the ownership was vested, directly or indirectly, both on , and on , in individuals referred to in subparagraph (A) of this paragraph;

((2)) The Commission is authorized to receive and to determine, according to law, the amount and validity, and provide for the payment of any claim filed by any bank or other financial institution doing business in the Philippines which reestablished sequestered accounts, deposits, or other credits of—

((A)) any individual referred to in subparagraph (A) of paragraph (1) of this subsection; or

((B)) any partnership, firm, corporation, or other legal entity, in which more than 50 per centum of the ownership was vested, directly or indirectly, both on , and on the date of reestablishment of such sequestered credits, in individuals referred to in such subparagraph (A);

((b)) ** Filing date for claims** Claims must be filed under this section within one year after .August 31, 19541954-08-31

((c)) ** Death or legal disability as affecting payments** Where any individual entitled to payment under this section is under any legal disability, payment may be made in accordance with the provisions of subsection (e) of . In the case of the death of any individual entitled to payment of any claim under this section, payment of such claim shall be made to the individuals specified, and in the order provided, in subsection (d) of ; except that no payment shall be made under this section to any individual who voluntarily, knowingly, and without duress, gave aid to or collaborated with or in any manner served any government hostile to the United States during World War II.section 4104 of this titlesection 4105 of this title

((d)) ** Certification of claims for payment** Each claim allowed under this section shall be certified to the Secretary of the Treasury for payment out of the War Claims Fund established under . The Secretary of the Treasury shall pay such claims as follows:

((1)) In the case of each claim allowed in an amount equal to or less than $500, such claim shall be paid in full; and

((2)) In the case of each claim allowed in an amount greater than $500, such claim shall be paid in two installments. The first installment shall be paid in an amount equal to $500 plus 66⅔ per centum of the amount of such claim allowed in excess of $500. The last installment shall be computed as of , under the next sentence of this paragraph, and, as so computed, shall be paid from the sums remaining in the War Claims Fund on that date. If the sums remaining in the War Claims Fund on , are sufficient to satisfy all claims allowed under this section and not paid in full, the unpaid portion of each such claim shall be paid in full; if the sums remaining in the War Claims Fund on , are not sufficient to satisfy all claims allowed under this section and not paid in full, the last installment payable on each such claim shall be reduced ratably, and, as so reduced, shall be paid from the War Claims Fund.