ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Home > Chan Robles Virtual Law Library > Philippine Laws, Statutes & Codes > :
Search for
www.chanrobles.com
:
EXECUTIVE ORDERS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
EXECUTIVE ORDER NO. 226 - ADJUSTING
THE DIVIDEND RATE OF THE DEVELOPMENT BANK OF THE PHILIPPINES ON ITS
1999 EARNINGS PURSUANT TO Sec. 5 OF REPUBLIC ACT NO. 7656
WHEREAS,
Section 1 of Republic Act No. 7656 provides that:
“Section 1.
WHEREAS, to support the viability and mandate of the Development Bank
of the Philippines (DBP), the liquidity, retained earnings position and
medium-term plans and programs of DBP was considered in the
determination of the reasonable dividend rates of said corporation on
its 1999 net earnings;
WHEREAS, pursuant to Sec. 5 of RA 7656, the Secretary of Finance
recommended the adjustment on the percentage of annual net earnings
that shall be declared by the DBP in the interest of national economy
and general welfare;
NOW, THEREFORE, I, JOSEPH E. ESTRADA, President of the Philippines, by
virtue of the powers vested in me by law, do hereby order:
Section 1.
Sec. 2.
Sec. 3.
DONE in the City of Manila,
this 3rd day of April, in the year of Our Lord, Two Thousand.
chan
robles virtual law librar
Back to Main
Since 19.07.98.