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PRESIDENTIAL DECREE NO. 2033
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PRESIDENTIAL DECREE NO. 2033 -
GOVERNING IMPORTATION OF "USED CLOTHING" PURSUANT TO CENTRAL BANK
CIRCULAR NO. 1060 DATED MAY 22, 1985
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chanroblesvirtualawlibrary
WHEREAS,
Central Bank Circular No. 1060 dated May 22, 1985, was issued to
implement Phase IV of the Government's Import Liberalization Program;chanroblesvirtualawlibrary
WHEREAS, among the liberalized items under said Circular is "Used
Clothing" the importation of which is generally prohibited under
Republic Act No. 4653;chanroblesvirtualawlibrary
WHEREAS, in order to clarify the applicability of said R.A. No. 4653,
Central Bank Circular No. 1090 was issued on January 14, 1986 to the
effect that "Used Clothing" which may be imported under Central Bank
Circular No. 1060 shall be limited to those which are allowed under
R.A. No. 4653 as exceptions to the prohibition against the commercial
importation of used clothing and rags under said law;chanroblesvirtualawlibrary
WHEREAS, commercial banks had in good faith caused the opening of
letters of credit to cover importations of "Used Clothing" pursuant to
Circular 1060 but prior to the issuance of clarificatory Circular No.
1090. 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 as follows:cralaw:red
Section 1. That importations of "used clothing" for
which letters of credit were opened under Central Bank Circular No.
1060 and prior to Central Bank Circular No. 1090 shall be allowed as
exception to Republic Act No. 4653.
Section 2. This Decree shall take effect
immediately. chanroblesvirtualawlibrary
Done in the City of Manila,
this 6th day of February, in the year of Our Lord, nineteen hundred and
eighty-six.
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