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MGA BATAS PAMBANSA
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Sponsored
by: The
ChanRobles Group
A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the Chan Robles Virtual Law Library.
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| BATAS PAMBANSA BLG. 32 - AN ACT TO
AMEND ARTICLES NINE AND TEN, CHAPTER TWO, PRELIMINARY TITLE, OF
PRESIDENTIAL DECREE NUMBERED FOUR HUNDRED FORTY-TWO, AS AMENDED,
OTHERWISE KNOWN AS THE LABOR CODE OF THE PHILIPPINES, IN ORDER TO
REMOVE DISCREPANCIES WITH PRESIDENTIAL DECREE NUMBERED TWENTY-SEVEN
WHICH SAID CHAPTER PURPORTS TO REPRODUCE |
| Section 1. "Art. 9.
"The total cost of the land, including interest at the rate of six percent (6%) per annum, shall be paid by the tenant in fifteen (15) years of fifteen (15) equal annual amortization. "In case of default, the amortization due shall be paid by the farmers' cooperative in which the defaulting tenant-farmer is a member, with the cooperative having a right of recourse against him. "The government shall guarantee such amortization with shares of stock in government-owned and government-controlled corporations." "Art. 10. "Title to the land acquired
pursuant to Presidential Decree No. 27 or the Land Reform Program of
the Government shall not be transferable except by hereditary
succession or to the Government in accordance with the provisions of
Presidential Decree No. 27, the Code of Agrarian Reforms and other
existing laws and regulations."
Sec. 2. Sec. 3. Approved: June 6, 1979. |
Since 19.07.98.
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