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PRESIDENTIAL DECREE NO. 1164
PRESIDENTIAL DECREE NO. 1164 -
EXTENDING THE EFFECTIVITY OF THE PRICE CONTROL LAW TO JUNE 30, 1979
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WHEREAS,
Section 11 of Republic Act No. 6361, otherwise known as the Price
Control Law, as amended by Presidential Decree No. 737, provides that
this law shall expire on June 30, 1977; chanroblesvirtualawlibrary
WHEREAS, there is an urgent need to extend the effectivity of the law
in line with the policy to prevent monopoly, hoarding, injurious
speculation, manipulation and profiteering with respect to the supply,
distribution and marketing of prime commodities and chanroblesvirtualawlibrary
WHEREAS, the amount of One Hundred Thousand (P100,000.00) Pesos
provided under Section 9 of Republic Act No. 6361 for personnel
services for a full year has become insufficient to secure an effective
implementation of the Price Control Law;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and decree: chanroblesvirtualawlibrary
Section 1. The effectivity of Republic Act No. 6361,
otherwise known as the Price Control Law, is hereby extended up to June
30, 1979, and the amount allotted for personnel services is increased
from One Hundred Thousand (P100,000.00) Pesos for a full year to Three
Hundred Thousand (P300,000.00) Pesos. The additional amount necessary
for the operation of the Council up to 1979 is hereby appropriated out
of any funds in the National Treasury not otherwise appropriated.
Section 2. Any provision of law, decree, executive
order or regulation inconsistent herewith is hereby repealed, amended
or modified accordingly.
Section 3. This Decree shall take effect immediately.
Done in the City of Manila,
this 23rd day of June in the year of Our Lord, nineteen hundred and
seventy-seven.
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