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PRESIDENTIAL DECREE NO. 381
PRESIDENTIAL DECREE NO. 381 -
REQUIRING THE APPROVAL OF THE PHILIPPINE TOURISM AUTHORITY ON CERTAIN
DEVELOPMENT PROJECTS AND LOANS APPLIED FOR TO FINANCE THEIR
CONSTRUCTION, ETC
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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
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, do hereby order and decree: chanroblesvirtualawlibrary
Section 1. Any provisions of existing rules to the
contrary notwithstanding, no development project for tourism purposes
shall be undertaken by any person without the prior approval of the
Philippine Tourism Authority, in accordance with the policies and
guidelines prescribed by the Department of Tourism.
Section 2. No loan or loans shall be extended by any
financial institution to any person to finance the establishment,
construction, rehabilitation, management and/or operation of any
development project for tourism purposes the prior approval of the
Philippine Tourism Authority, in accordance with the policies and
guidelines prescribed by the Department of Tourism.
Section 3. The Board of the Philippine Tourism
Authority shall promulgate the necessary rules and regulations in
accordance with policies and guidelines prescribed by the Secretary of
Tourism to implement and carry out effectively the purpose, spirit and
objective of this decree. chanroblesvirtualawlibrary
Section 4. Any person violating or causing another to
violate any provision of this decree or the rules and regulations
promulgated by the Philippine Tourism Authority pursuant to the next
preceding section shall suffer the penalties provided under Section 4-B
of Presidential Decree No. 189, as amended.
Section 5. This decree shall take effect immediately.
Done in the City of Manila,
this 24th day of January, in the year of Our Lord, nineteen hundred and
seventy-four.
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