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PRESIDENTIAL DECREE NO. 1447
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PRESIDENTIAL DECREE NO. 1447 -
INSTITUTING A PROCEDURE FOR THE MANAGEMENT OF PROCEEDS OF TAXES AND
FEES EARMARKED FOR OR ADMINISTERED BY THE PHILIPPINE TOURISM AUTHORITY
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WHEREAS,
the Philippine Tourism Authority (PTA) has been created as the
government's implementing arm in integrating activities and services
related to tourism development; and chanroblesvirtualawlibrary
WHEREAS, there is a need to transform it into a more effective
instrument geared towards the development of the various tourism
infrastructure projects in the country;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of
the Philippines, by virtue of the powers vested in me by the
Constitution, do hereby order as follows:cralaw:red
Section 1. All funds earmarked for or administered by
the PTA pursuant to P.D. No. 189, as amended by P.D. No. 564 collected
by the Philippine Tourism Authority and/or other government agencies
shall be remitted to the National Treasury on a quarterly basis.
Section 2. The proceed of all collections pursuant to
Section 1 hereof, shall be utilized exclusively for the operations and
projects of the Philippine Tourism Authority and shall be released
automatically by the National Treasury upon approval by the PTA Board
of its budgetary requirements, as an exception, P.D. No. 1234 and the
budgetary processes provided in P.D. No. 1177: Provided, That fund
releases for expenditures on capital outlays and special undertakings
shall be subject to specific approval by the President.
Section 3. Executive Order No. 499, s. 1978, is
hereby repealed and all provisions of laws, decrees, executive orders,
letter of instructions or portions thereof contrary to the provisions
of this Decree are hereby amended or modified accordingly.
Section 4. This Decree shall take effect immediately.
Done in the City of Manila,
this 11th day of June, in the year of Our Lord, nineteen hundred and
seventy-eight.
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