AMENDING
CERTAIN PROVISIONS OF PRESIDENTIAL
DECREE 1694, CREATING THE "WELFARE FUND FOR OVERSEAS WORKERS"
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WHEREAS,
Presidential
Decree No. 1694 was promulgated on 1 May 1980 creating the "Welfare
Fund for Overseas Workers";
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WHEREAS,
certain provisions of said Decree must be amended to carry out the
objectives
and purposes for which the Welfund was created;
NOW,
THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the
Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
decree
the following:chanroblesvirtuallawlibrary
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1. Section
2 of P. D. 1694 is hereby amended to read as follows:
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"Sec.
2. Fund Source. — All contributions
to the Welfare and Training Fund collected pursuant to Letter of
Instructions
No. 537 issued on May 1, 1977 shall be transferred to the Welfund and
deposited
for the account of the Welfund in a government depository bank. Fees
and
other charges to be imposed, subject to the approval of the Minister of
Labor and Employment, by the Overseas Employment Development Board, the
Bureau of Employment Services, and the National Seamen Board shall
accrue
to the Welfund."
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2. Section
3 of the same Decree is hereby amended to read as follows:chanroblesvirtuallawlibrary
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"Sec.
3. Administration. — The Welfund
shall be administered by a Board of Trustees through a Secretariat. The
Board of Trustees shall consist of the Minister of Labor and Employment
as Chairman, the Minister of Finance, the Minister of Budget, one
Deputy
Minister of Labor and Employment, the Executive Director of the
Overseas
Employment Development Board, the Executive Director of the National
Seamen
Board, the Director of the Bureau of Employment Services, the
Administrator
of the Welfund as Vice-Chairman, and one representative each from the
management
and labor sectors.
"The
Administrator and the representatives of the management and labor
sectors
shall be appointed by the President, upon recommendation of the
Minister
of Labor and Employment.
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"The
Administrator, who shall be the chief executive officer of the Welfund,
shall have the qualifications, rank and compensation of a Bureau
Director.
He shall be assisted by a Deputy Administrator with the rank and
compensation
of a deputy director and who shall be appointed by the Board of
Trustees
upon the recommendation of the Chairman.
"The
Welfund secretariat shall be attached to the Office of the Minister of
Labor and Employment, whose personnel shall be appointed by the
Chairman,
upon recommendation of the Administrator. The compensation of the
personnel
and the operating expenses of the secretariat shall be charged to the
Welfund."
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3. Sec.
5 is also hereby amended to read as follows:chanroblesvirtuallawlibrary
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"Sec.
5. Fund Management. — Transactions
in the Welfund shall be subject to such rules and regulations as may be
formulated by its Board of Trustees. The Board of Trustees shall fix
the
yearly appropriation of the Secretariat."
4. Repealing
Clause. — All provisions of Presidential Decree 1694 and Letter of
Instructions
537 not otherwise repealed or amended in this Decree shall remain in
full
force.
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5. Effectivity.
— This Decree shall take effect immediately.
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Done
in the City of Manila, this 16th day of January, in the year of Our
Lord, nineteen
hundred and eighty-one.
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