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PRESIDENTIAL DECREE NO. 883
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PRESIDENTIAL DECREE NO. 883
- AMENDING THE PROVISIONS OF Section 316 OF THE REVISED ADMINISTRATIVE
CODE, ON PERSONS BONDABLE IN THE DISCRETION OF THE AUDITOR
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chanroblesvirtualawlibrary
WHEREAS,
Section 316 of the Revised Administrative Code enumerates the public
officers whose fidelity of service shall be insured in the fidelity
fund only when the Auditor General (now Chairman, COA) shall in his
discretion so direct, and among these are public officers whose
accountability is in an amount less than five hundred pesos;chanroblesvirtualawlibrary
WHEREAS, this ceiling of P500.00 was originally established in 1917,
when the Code was enacted into law, and since then has never been
altered despite unprecedented or drastic rise in price levels;chanroblesvirtualawlibrary
WHEREAS, prevalent prices have increased manifold, rendering most
unrealistic the present mandatory requirement of insuring the fidelity
of an accountable officer with an accountability of P500.00 or
more; chanroblesvirtualawlibrary
WHEREAS, the immediate implication is an unusual increment in premium
expenses under the fidelity fund and hence, leading to a needless,
drain on the cash resources of government agencies, for even with a
meager accountability, in terms of pre-war levels, government personnel
are forced to have their fidelity insured with the fidelity fund;
and chanroblesvirtualawlibrary
WHEREAS, time and again the Administration has hewed to a line of
action of utmost economy in financial operations, consistent with
public welfare, to achieve a smooth running of government machinery,
viable within its yearly revenues, without possibly incurring debts and
deficits;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:cralaw:red
Section 1. Section 316, sub-paragraph (e) of the
Revised Administrative Code is hereby amended to read as follows: chanroblesvirtualawlibrary
"Sec. 316. Persons bondable in discretion of the
Commission on Audit. — The fidelity of the following officers shall be
insured in the fidelity fund only when the Commission on Audit, shall
in its discretion so direct;chanroblesvirtualawlibrary
"(e) Officers whose accountability is in an amount
less than two thousand pesos."
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 2nd day of February, in the year of Our Lord, nineteen hundred and
seventy-six.
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