WHEREAS,
under the present economic crisis prevailing in the country, the trust
of government policy and activity is to promote and develop ventures
and projects in agri-business;chanroblesvirtualawlibrary
WHEREAS, the National Development Company is among the implementing
agencies of this policy;chanroblesvirtualawlibrary
WHEREAS, the ability of the National Development Company to effectively
implement and pursue this policy has been hampered by a legal doubt as
to whether the restrictions imposed under Commonwealth Act No. 141, as
amended, otherwise known as the Public Land Act, on the acquisition,
alienation, encumbrance, repurchase, and utilization of lands acquired
under said Act apply as well to government institutions such as the
National Development Company;chanroblesvirtualawlibrary
WHEREAS, to clarify such legal doubt, it is imperative that the Revised
Charter of the National Development Company be amended to enable to
acquire lands registered or applied for registration under the Public
Land Act and to utilize the same in implementation of its delegated
powers and duties. 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 the following:cralaw:red
Section 1. There is hereby added to Section 4 of
Presidential Decree No. 1648 a new paragraph to be designated as
paragraph "2-A" which shall read as follows:cralaw:red
"(2-A) Notwithstanding the provisions of Section
Twenty Nine, One Hundred Eighteen, One Hundred Nineteen, One Hundred
Twenty, One Hundred Twenty One, One Hundred Twenty Two, One Hundred
Twenty Three and One Hundred Twenty Four of the Public Land Act, to
acquire and hold lands originally acquired under the Public Land Act
and to directly develop, or contribute as equity or otherwise transfer
such lands to joint venture or corporations which the Company may
organize or otherwise participate in as authorized under paragraph 1 of
this Section, and such joint venture corporations may acquire and own
said lands acquired by the Company."
Section 2. This Decree shall take effect immediately
upon promulgation hereof.
Done in the City of Manila,
this 14th day of November in the year of Our Lord, nineteen hundred and
eighty-three.
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