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PRESIDENTIAL DECREE NO. 1056
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PRESIDENTIAL DECREE NO. 1056 -
GRANTING OF CASH REWARD TO PERSONS INSTRUMENTAL IN THE DISCOVERY AND
SEIZURE OF FOREIGN CURRENCIES BEING SMUGGLED OUT OF THE COUNTRY
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chanroblesvirtualawlibrary
I,
FERDINAND E. MARCOS, President of the Republic of the Philippines, by
virtue of the powers vested in me by the Constitution, do hereby order
and decree:cralaw:red
Section 1. That persons not in the government or the
Armed Forces of the Philippines giving information leading to the
discovery and seizure of convertible foreign currencies being smuggled
out of the country shall be entitled to a cash reward equivalent to
twenty (20%) per centum of the total amount of the currency
seized. chanroblesvirtualawlibrary
Section 2. All laws, acts, decrees, orders, and
regulations inconsistent herewith are deemed repealed and/or modified
accordingly.
Section 3. This Decree shall take effect upon its
approval.
Done in the City of Manila,
this 30th day of November, in the year of Our Lord, nineteen hundred
and seventy-six.
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