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PRESIDENTIAL DECREE NO. 1904
PRESIDENTIAL DECREE NO. 1904 -
AMENDING PRESIDENTIAL DECREE NO. 694, AS AMENDED BY PRESIDENTIAL DECREE
NO. 1478, OTHERWISE KNOWN AS "THE 1975 REVISED CHARTER OF THE
PHILIPPINE NATIONAL BANK."
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WHEREAS,
the legal services of the Office of the Government Corporate Counsel
and the Office of the Solicitor General are available in general to
government- owned or controlled corporations under applicable
laws; chanroblesvirtualawlibrary
WHEREAS, it is necessary to amend the Charter of the Philippine
National Bank in order to enable it to avail of the legal services of
the said offices;chanroblesvirtualawlibrary
WHEREAS, the Philippine National Bank has to intensify its campaign for
the collection of receivables at minimum cost and as expeditiously as
the law will allow.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
decree:cralaw:red
Section 1. Presidential Decree No. 694, as amended by
Presidential Decree No. 1478, otherwise known as the 1975 Revised
Charter of the Philippine National Bank, is hereby amended by adding
after Section 15 thereof a new Section 15-A to read as
follows: chanroblesvirtualawlibrary
"Sec. 15-A. Any provision of law to the contrary
notwithstanding, the Chief Legal Counsel may, in appropriate cases,
avail of the legal services of the Office of the Government Corporate
Counsel, the Office of the Solicitor General, or any government legal
office authorized to render such services to government-owned or
controlled corporations.
"For the services of the staff of the Office of the Government
Corporate Counsel, the Bank shall appropriate any pay such amount as
may be assessed by Government Corporate Counsel in addition to the
allowances which the Bank may grant to defray the transportation and
representation expenses of Lawyers who may be assigned to handle the
legal affairs of the Bank.
"Furthermore, the Bank may, subject to court approval, deputize any
member of its legal staff to act as Special Sheriff in the enforcement
of court writs and processes in cases involving the Bank."
Section 2. This Decree shall take effect immediately.
DONE in the City of Manila,
this 20th day of February, in the year of Our Lord nineteen hundred and
eighty-four.
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