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PRESIDENTIAL DECREE NO. 1020
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PRESIDENTIAL DECREE NO. 1020 -
AMENDING THE PENULTIMATE PARAGRAPH OF Section FIFTEEN OF PRESIDENTIAL
DECREE NUMBERED NINE HUNDRED NINETY-TWO
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chanroblesvirtualawlibrary
I,
FERDINAND E. MARCOS, President of the Philippines, by virtue of the
powers vested in me by the Constitution, in order to effect minor
amendments to existing law and needed corrections of certain
typographical errors therein, do hereby order and decree the following:cralaw:red
Section 1. The penultimate paragraph of Section 15 of
Presidential Decree No. 992 is hereby amended to read as follows:cralaw:red
"The Republic of the Philippines hereby guarantees the payment by the
Corporation of both the principal and the interest on the bonds so
issued, and shall pay such principal and interest in case the
Corporation fails to do so, and in order to make the payments so
guaranteed, such items as may be necessary are hereby appropriated out
of any funds in the National Treasury not otherwise
appropriated." chanroblesvirtualawlibrary
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 22nd day of September in the year of Our Lord, nineteen hundred
and seventy-six.
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