WHEREAS,
Presidential Decree No. 264, dated August 2, 1973, has created the
Philippine Amanah Bank, with an authorized capital stock of one hundred
million pesos designed "to provide credit, commercial, development and
savings banking facilities at reasonable terms to the people of the
primarily Muslim provinces of Mindanao and Palawan, for the
establishment, acquisition, development and expansion of agricultural,
commercial and industrial enterprises;"
WHEREAS, out of the authorized capital stock of one hundred million
(P100-M) pesos of the Philippine Amanah Bank, the Republic of the
Philippines is bound to subscribe, pursuant to Section 3(a) of
Presidential Decree No. 264, three hundred thousand common shares at
one hundred pesos per share, equivalent to THIRTY MILLION (P30-M) PESOS;chanroblesvirtualawlibrary
WHEREAS, the stock subscription of the Republic of the Philippines to
the three hundred thousand common shares in the amount of thirty
million (P30-M) pesos has not been provided in the current
Appropriation Decree No. 233, which became operative on July 1, 1973;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution and pursuant
to General Order No. 1, dated September 22, 1972, issued in pursuance
of Proclamation No. 1081, dated 21 September 1972, do hereby decree:cralaw:red
That out of the funds in the National Treasury not otherwise
appropriated, the sum of Thirty Million (P30-M) pesos is hereby
appropriated for the purpose herein provided in this
Decree. chanroblesvirtualawlibrary
This Decree shall take effect immediately.
Done in the City of Manila,
this 19th day of October, in the year of Our Lord, nineteen hundred and
seventy-three.
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