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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 917 - AMENDING
THE DEFINITION OF “COTTAGE INDUSTRY”
WHEREAS, the NEDA Executive Board during
its session on April 23, 1982, through its Board Resolution No. 14
redefined cottage industry to have total enterprises assets not
exceeding Two Hundred Fifty Thousand Pesos (P250,000);
WHEREAS, Section 10 of P.D. 1788 provides that the maximum total
enterprise assets of P100,000.00 allowable for cottage industries for
purposes of registration with NACIDA may be modified and/or increased
accordingly by the NACIDA Board subject to the final approval of the
President of the Republic of the Philippines;
WHEREAS, this new definition is necessary in order to further promote
and develop the cottage industries and to make it attuned to inflation
and the changing structure in the industry;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, and the
authority vested in me by Presidential Decree No. 1416, do hereby order
the following:
Section 1.
Cottage
Industry — The term “Cottage Industry” shall mean a modest economic
activity for profit using primarily indigenous raw materials in the
production of various articles that generally involve craftsmanship,
artistic skills and the tradition of the country. Provided, however,
that all cottage industries shall be owned and operated by Filipino
citizens, or by corporations, partnerships, or cooperatives at least
seventy-five per cent (75%) of the capital investment of which shall be
owned by Filipino citizens. Provided, further, that the total assets of
which shall not exceed Two Hundred Fifty Thousand Pesos (P250,000.00)
at the time of registration with the NACIDA. Provided, finally that the
maximum total assets allowable for cottage industries for purposes of
registration may be modified and/or increased accordingly subject to
the approval of the President of the Republic of the Philippines.
Sec. 2.
Done in the City of Manila,
this 15th day of October, in the year of Our Lord, Nineteen Hundred and
Eighty-three.
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