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PRESIDENTIAL DECREE NO. 582
PRESIDENTIAL DECREE NO. 582 -
FURTHER AMENDING PRESIDENTIAL DECREE NO. 232, AS AMENDED
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WHEREAS,
unlike other copra producing countries, the Philippines has not exerted
concerted efforts towards the development and planning of an
early-breeding and high-yielding hybrid variety of coconut trees
capable of producing at least five (5) tons of copra per hectare per
year compared to the present national average of less than one (1) ton
per hectare; chanroblesvirtualawlibrary
WHEREAS, to enable the country to compete in the international market
of vegetables fats and oils and thereby ensure stable and better
incomes for the coconut farmers, it is imperative that the country
should pursue a vigorous program of replanting existing coconut farms
and idle lands with superior hybrid coconut trees;chanroblesvirtualawlibrary
WHEREAS, to attain that objective the Government should channel part of
what the coconut farmers are presently paying as coconut consumers
stabilization levy to their ultimate direct benefit;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, in order to
effect the desired changes and objectives, do hereby decree the further
amendment of Presidential Decree No. 232, as follows:cralaw:red
Section 1. Section 3 of Presidential Decree No. 232,
as amended, is hereby amended by inserting new paragraphs to read as
follows: chanroblesvirtualawlibrary
"o) To formulate and implement within the next five
(5) years nationwide coconut replanting program using precocious
high-yielding hybrid seednuts;chanroblesvirtualawlibrary
p) To distribute, for free, to coconut farmers the
hybrid coconut seednuts herein authorized to be acquired."
Section 2. A new section, to be known as Section 3-B,
is hereby inserted to read as follows:cralaw:red
Section 3-B. Coconut Industry Development Fund. —
There is hereby created a permanent fund to be known as Coconut
Industry Development Fund which shall be deposited with, and
administered and utilized by, the Philippine National Bank through its
subsidiary the National Investment and Development Corporation for the
following purposes:cralaw:red
a) To finance the establishment, operation and
maintenance of a hybrid coconut seednut farm under such terms and
conditions that may be negotiated by the National Investment and
Development Corporation with any private person, corporation, firm or
entity as would insure that the country shall have, at the earliest
possible time, a proper, adequate and continuous supply of high
yielding hybrid seednuts;chanroblesvirtualawlibrary
b) To purchase all of the seednuts produced by the
hybrid coconut seednut farm which shall be distributed, for free, by
the Authority to coconut farmers in accordance with, and in the manner
prescribed in, the nationwide coconut replanting program that it shall
devise and implement; Provided, That farmers who have been paying the
levy herein authorized shall be given priority;chanroblesvirtualawlibrary
c) To finance the establishment, operation and
maintenance of extension services, model plantations and other
activities as would insure that the coconut farmers shall be informed
of the proper methods of replanting their farms with the hybrid
seednuts.
As the initial funds of the Coconut Industry Development Fund, the
Authority is hereby directed to pay to the Coconut Industry Development
Fund the amount of One Hundred Million Pesos (P100,000,000.00) out of
its collections of the coconut consumers stabilization levy and
thereafter the Authority shall pay to the said Fund an amount equal to
at least twenty centavos (P0.20) per kilogram of copra resecada or its
equivalent out of its current collections of the coconut consumers
stabilization levy. In the event that the coconut consumers
stabilization levy is lifted, a permanent levy of twenty centavos
(P0.20) is thereafter automatically imposed on the first sale of every
kilogram of copra or its equivalent in terms of other coconut products
which shall be collected and paid to the Coconut Industry Development
Fund by the Authority in accordance with the mechanics presently
followed in the collection of the coconut consumers stabilization levy.
The Philippine National Bank is hereby authorized to invest any
utilized portion of the Fund in easily convertible investments and all
earnings therefrom shall form part of the Fund.
The sale or transfer of the hybrid coconut seednuts herein authorized
to be acquired is hereby declared exempt from the payment of the
coconut consumers stabilization levy and any and all taxes and fees of
whatever kind and nature."
Section 3. Repealing Clause. — All laws, executive
and administrative orders, rules and regulations inconsistent with the
foregoing provisions are hereby repealed or amended accordingly.
Section 4. This Decree shall take effect immediately.
DONE in the City of Manila,
this 14th day of November, in the year of Our Lord, nineteen hundred
and seventy-four.
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