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PRESIDENTIAL DECREE NO. 1633
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PRESIDENTIAL DECREE NO. 1633 -
AMENDING REPUBLIC ACT NO. 6173 AS AMENDED FOR THE PURPOSE OF CLARIFYING
THE PROCEDURAL AND OTHER REQUIREMENTS UNDER Section 17 THEREOF IN
RELATION TO PAYMENTS TO THE SPECIAL FUND CREATED UNDER Section 8(J) OF
THE SAME, AND FOR OTHER PURPOSES
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WHEREAS,
under Section 8(j) of Republic Act No. 6173 as amended, a Special Fund
was created to be utilized for the development of energy sources, to
subsidize the importation of crude oil and refined petroleum products,
as well as to finance social and economic projects as determined by the
President of the Philippines;chanroblesvirtualawlibrary
WHEREAS, under Section 17 of the same Act as amended, the Oil Industry
Commission, now the Board of Energy, was empowered to require through
an appropriate Order, payment, to the Special Fund in an amount not
exceeding P0.15 per liter of refined petroleum product;chanroblesvirtualawlibrary
WHEREAS, in order to obviate any doubt and possible misinterpretations
of the said Section 17 and of the whole Act, it is necessary to clarify
the necessary requirements when the Board of Energy exercises its
powers under said section and assure that all past and future
expenditures are in accordance with the guidelines governing the
purposes and uses of the Special Fund;chanroblesvirtualawlibrary
WHEREAS, it is also necessary to increase the resources of the Special
Fund to enable the Government to do the following: chanroblesvirtualawlibrary
(a) Respond quickly and take adequate supply
stabilization measures during periods of short supply occasioned by
un-anticipated increases in oil prices, production cutbacks and other
supply related developments;chanroblesvirtualawlibrary
(b) Accelerate the development of non-oil, indigenous
and renewable sources of energy and finance the Government programs
relating to energy conservation and the development of non-conventional
sources of energy; and
(c) To enable the Government to redirect expenditures
and consumption patterns for the purpose of accelerating the
development of strategic activities that will catalyze industrial and
economic development.
WHEREAS, it is necessary that this amendment be made immediately in
view of the crisis generated not only by escalating prices of crude but
also because of continuous supply shortages; chanroblesvirtualawlibrary
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 as follows:cralaw:red
Section 1. Section 17 of Republic Act No. 6173
as amended, hereby further amended to read as follows: chanroblesvirtualawlibrary
"Sec. 17. Payment to Special Fund. — In addition to
the payments that may be required under Section 8 (j) hereof, the Board
of Energy is hereby empowered to require, through an appropriate Order,
payment to the Special Fund created under Section 8(j) of this Act, of
amounts not exceeding a weighted average of Thirty Centavos (P0.30) per
liter of all refined petroleum products, as certified by the President
of the Philippines, taking into account the requirements and purposes
of the Special Fund, the effect of the payment on prices of petroleum
products and corollarily, its cost impact on the economy and/or the
consuming public and the cost and profit levels of the industry."
Done in the City of Manila,
this 21st day of August, in the year of Our Lord, nineteen hundred and
seventy-nine.
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