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PRESIDENTIAL DECREE NO. 179
PRESIDENTIAL DECREE NO. 179
- AMENDING Section 4 OF PRESIDENTIAL DECREE NO. 15 DATED OCTOBER 5,
1972, CREATING THE CULTURAL CENTER OF THE PHILIPPINES
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WHEREAS,
the Cultural Center of the Philippines was created by Presidential
Decree No. 15 dated October 5, 1972, to implement more effectively and
vigorously the constitutional injunction that arts and letters shall be
under the patronage of the State; and
WHEREAS, to enable the Center to carry out these cultural objectives,
it must have the authority to raise funds by public patronage through
the medium of flotation of bonds or other forms of indebtedness;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081 dated September 21, 1972, and General
Order No. 1, dated September 22, 1972, as amended, in order to promote,
enhance and develop Philippine culture, do hereby order and decree as
follows:cralaw:red
Section 1. Section three of Presidential Decree No.
15 dated October 5, 1972, is hereby amended to read as follows:cralaw:red
"Sec. 3. Nature. — The corporation hereby created
shall be a non-municipal public corporation. Its property, real and
personal, shall belong to and be managed exclusively by the corporation
for the benefit of the Filipino people. Any income that may be derived
from its projects and operations and any contributions it may receive
shall be invested in a Cultural Development Fund set up to attain the
objectives of this Act, or utilized for such purposes as its governing
board may decide upon, consistent with the purposes herein provided. It
shall enjoy autonomy of policy and operation but may seek the
assistance and cooperation of various government offices in pursuit of
its objectives."
Section 2. Section four of the same Decree is hereby
amended to read as follows: chanroblesvirtualawlibrary
"Sec. 4. General Corporate Powers. — The Cultural
Center of the Philippines shall have perpetual succession with the
power to sue and be sued; to contract and be contracted with; to own,
manage and hold such real and personal property as shall be necessary
for corporate purposes; to receive real and personal property by gift,
devise, or bequest; to invest its funds or other assets in such
undertakings as it may deem wise or necessary to carry out its purposes
and objectives; to adopt a seal and alter the same; to adopt by-laws,
rules and regulations not inconsistent with the provisions of this Act;
and generally, to do all such acts and things as may be necessary to
carry into effect the provisions of this Act.
"With the approval of the President of the Philippines, upon the
recommendation of the Secretary of Finance, the Center may issue bonds
and other certificates of indebtedness upon the absolute guarantee of
the Governments, as to both principal and interest. The Board of
Trustees shall determine the interest rates, maturities and other
features, terms and conditions of such bonds or certificates of
indebtedness. The bonds and certificates of indebtedness and any income
derived therefrom shall be exempt from the payment of all taxes of
whatever kind and nature including withholding taxes which may be
imposed by the national government, its agencies, instrumentalities or
political subdivisions."
Section 3. Section seven of the same Decree is hereby
amended to read as follows:cralaw:red
"Sec. 7. (a) By-Laws. — The Board of Trustees shall
ordain and promulgate the rules and regulations governing the Center,
providing for, among other things, the organization, regular, special
and annual meetings of the Board, its officers, their powers and
duties, as well as other offices and their duties, of the Center, in a
Code of By-laws which shall be passed by the affirmative vote of
majority plus one of all members. Amendment thereto shall likewise be
made by a similar vote of the trustees at any meeting of the Board duly
convened.
(b) Budget. — The Board shall approve the annual
budget and any supplemental budget or budgets that may be submitted to
it by the executive officer, and approval of the same by the Board
shall be deemed final and not subject to further approval by any other
government office.
(c) Procurement. — The Board shall devise and
establish for the Center an independent system for the procurement of
supplies, materials or equipment, produced or manufactured locally or
elsewhere, and for the contracting of services, which shall not be
subject to further approval by any other government office.
Section 4. Section eleven of the same Decree is
hereby amended to read as follows:cralaw:red
"Sec. 11. Finances. — The corporations shall be
financed by the income from its various sources and from its
operations, as well as by contributions from the private sector either
from local or foreign sources and flotation of tax-free bonds, when
warranted. For permanent support of the Center, the equivalent of five
per centum (5%) of the total annual collections of all taxes on
amusements is hereby set aside and appropriated for the yearly
maintenance and support of the Center or for such purposes as its
governing board may decide upon, consistent with its purposes and
objectives. Government corporations are hereby authorized to make such
contributions to the Center from time to time as their respective
governing boards may in their discretion decide, provided that such
contributions do not exceed fifteen per centum (15%) of their annual
unimpaired surplus. Contributions to the Center shall be considered as
deductible in full and shall not be included for purposes of computing
the maximum amounts deductible under the first paragraph of Section
30(h) of Commonwealth Act No. 466, as amended.
Section 5. Section thirteen of the same Decree is
hereby amended to read as follows:cralaw:red
"Sec. 13. Tax Exemption. — The provision of Section
1205 of the Tariff and Customs Code, as amended by Presidential Decree
No. 34 dated October 28, 1972, Section 190 of the Tax Code, as amended
by Presidential Decree No. 69 dated November 24, 1972, and other
existing laws notwithstanding, the Center shall be exempted from all
forms of taxation whatever and from duties and all other imposts on any
equipment, articles, goods or services that it may import from abroad
which may be reasonably necessary for use in or part of its operations."
This Decree is hereby made part of the law of the land and shall take
effect immediately. chanroblesvirtualawlibrary
Done in the City of Manila,
this 26th day of April, in the year of Our Lord, nineteen hundred and
seventy-three.
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