A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library This page features the full text of Presidential Decree No. 1797 AMENDING FURTHER PRESIDENTIAL DECREE NO. 129, AS AMENDED, OTHERWISE KNOWN AS "THE INVESTMENT HOUSES LAW". PRESIDENTIAL DECREE NO. 1797 . chan robles virtual law library
WHEREAS,
there must be greater cooperation among governmental agencies to ensure
the accomplishment of desired objectives;
. chanrobles virtual law library
WHEREAS,
there is a need to provide flexibility to government authorities in
setting
the capitalization requirement for investment houses in order to
enhance
the capability of the latter to compete and to finance the requirements
of economic development.
.
chanrobles virtual law library
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order as follows: . chanrobles virtual law library Section 1. The third paragraph of Section 4 of Presidential Decree No. 129, as amended, is hereby amended to read as follows: In determining compliance with the provisions of subsections (b) and (c) above, the Securities and Exchange Commission shall consult with and act pursuant to such recommendation as the Monetary Board of the Central Bank of the Philippines may make. . chanrobles virtual law library Sec. 2. Section 8 of the same Decree is hereby amended to read as follows: . chanrobles virtual law library
Sec.
3. The first paragraph of Section
16 of the same Decree is hereby amended to read as follows:
Sec.
4. All laws, decrees, rules and
regulations inconsistent with this Decree are hereby repealed or
modified
accordingly.
.
chanrobles virtual law library
Sec.
5. This Decree shall take effect
immediately.
.
chanrobles virtual law library
Done in the City of Manila this 16th day of January, in the year of Our Lord, nineteen hundred and eighty-one. . chanrobles virtual law library
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