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PRESIDENTIAL DECREE NO. 1225
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PRESIDENTIAL DECREE NO. 1225 -
EXEMPTING THE COOPERATIVE DEVELOPMENT LOAN FUND FROM THE COVERAGE OF
PRESIDENTIAL DECREE NO. 711
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chanroblesvirtualawlibrary
WHEREAS,
the Cooperative Loan Fund (LF) under Presidential Decree No. 175 as the
financing arm of the cooperative development program is vital to the
attainment of the objectives of Presidential Decree No. 175; chanroblesvirtualawlibrary
WHEREAS, the Cooperative Development Loan Fund together with its
earnings was originally intended to be a revolving fund;chanroblesvirtualawlibrary
WHEREAS, the Cooperative Development Loan Fund, as and when it
increases its assets and develops capacity, may be converted into a
Bank for Cooperatives as part of the overall program for cooperative
development. chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, do hereby
promulgate the following: chanroblesvirtualawlibrary
1. The Cooperative Development Loan Fund created
under Presidential Decree No. 175 is hereby exempted from coverage of
Presidential Decree 711. chanroblesvirtualawlibrary
2. The Decree shall take effect immediately.
Done in the City of Manila,
this 21st day of October, in the Year of Our Lord, nineteen hundred and
seventy-seven.
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Since 19.07.98
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