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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 925 - AMENDING
Sec. 2 (A) OF EXECUTIVE ORDER NO. 857 ENTITLED “GOVERNING THE
REMITTANCE TO THE PHILIPPINES OF FOREIGN EXCHANGE EARNINGS OF FILIPINO
WORKERS ABROAD AND FOR OTHER PURPOSES”
WHEREAS, the compulsory remittance to the
Philippines of foreign exchange earnings of Filipino workers abroad is
one of the major sources of foreign exchange;
WHEREAS, there is a need to increase the foreign exchange reserves of
the country in the light of the prevailing tight economic conditions;
WHEREAS, the Filipino Association for Mariners’ Employment, Inc.
through its Board of Directors, in its desire to help out in the
national effort, have adopted a Resolution recommending the increase in
the remittance of foreign exchange earnings of Filipino seamen or
mariners;
NOW, THEREFOR, I, FERDINAND E, MARCOS, President of the Philippines, by
virtue of the powers vested in me by the Constitution, do hereby order
and promulgate:
Section 1.
“Sec.
2.
(a)
xxx
Sec. 2.
Sec. 3.
Sec. 4.
DONE in the City of Manila,
this 22nd day of November, in the year of Our Lord, nineteen hundred
and eighty-three.
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Since 19.07.98.