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Chan Robles Virtual Law Library
PRESIDENTIAL DECREE NO. 949
PRESIDENTIAL DECREE NO. 949 -
VESTING THE ADMINISTRATION AND OWNERSHIP IN FAVOR OF THE PHILIPPINE
NATIONAL OIL COMPANY OF THAT PARCEL OF LAND OF THE PUBLIC DOMAIN
LOCATED AT LAMAO, LIMAY, BATAAN WHICH WAS RESERVED FOR INDUSTRIAL
ESTATE PURPOSES PURSUANT TO PROCLAMATION NO. 361 DATED MARCH 6, 1968 AS
AMENDED BY PROCLAMATION NO. 630 DATED NOVEMBER 29, 1969 AND FOR OTHER
PURPOSES
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chanroblesvirtualawlibrary
WHEREAS,
the establishment, development and operation of a petrochemical complex
and related industries in a petrochemical site is vital to economic and
industrial development;chanroblesvirtualawlibrary
WHEREAS, the efficient implementation of this objective in that site at
Lamao, Limay, Bataan, more specifically described in Proclamation No.
361 dated March 6, 1968 as amended by Proclamation No. 630 dated
November 29, 1969 can best be achieved thru an entity equipped and
competent to pursue in earnest such an undertaking.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
decree and order: chanroblesvirtualawlibrary
Section 1. The administration, management, and
ownership of that parcel of land of the public domain located at Lamao,
Limay, Bataan which is reserved for industrial estate purposes and more
particularly described in Presidential Proclamation No. 361 dated March
6, 1968 as amended by Proclamation No. 630 dated November 29, 1969,
subject to private rights, if any, which shall be the subject of
expropriation, is hereby transferred to the Philippine National Oil
Company (PNOC) in full and absolute ownership for the nominal sum of
One Peso; Provided, that, the Philippine Explosives Corporation, now
operating therein shall be allowed to continue with its usual business
operations, transactions and activities as authorized by law subject to
such rules and regulations as PNOC may prescribe. The Bureau of Lands
shall survey and fix the permanent boundaries of the aforementioned
parcel of land of the public domain.
Section 2. The Philippine National Oil Company shall
manage, operate and develop the said parcel of land as a petrochemical
industrial zone and will establish, develop and operate or cause the
establishment, development and operation thereat of petrochemical and
related industries by itself or its subsidiaries or by any other entity
or person it may deem competent alone or in joint venture; Provided,
that, where any petrochemical industry is operated by private entities
or persons, whether or not in joint venture with the Philippine
National Oil Company or its subsidiaries, the Philippine National Oil
Company may lease, sell and/or convey such portions of the
petrochemical industrial zone to such private entities or
persons. chanroblesvirtualawlibrary
Section 3. The Philippine National Oil Company shall
prescribe such rules and regulations as shall be necessary in the
establishment, management, operation and development of the
petrochemical industrial zone.
Section 4. All laws, decrees, executive orders,
proclamations, rules and regulations inconsistent herewith are hereby
repealed and/or modified accordingly.
Section 5. This decree shall take effect
immediately. chanroblesvirtualawlibrary
Done in the City of Manila this
17th day of June in the year of Our Lord, nineteen hundred and
seventy-six.
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