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PRESIDENTIAL DECREE NO. 761
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PRESIDENTIAL DECREE NO. 761 -
AMENDING Section EIGHT HUNDRED SIXTY OF THE TARIFF AND CUSTOMS CODE OF
THE PHILIPPINES, AS AMENDED, BY ALLOWING THE REGISTRATION OF
VESSELS THE OWNERSHIP OF WHICH IS VESTED IN CORPORATIONS OR
ASSOCIATIONS, AT LEAST SIXTY PERCENT OF THE CAPITAL STOCK OR
CAPITAL OF WHICH BELONG TO CITIZENS OF THE PHILIPPINES, AND FOR OTHER
PURPOSES
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WHEREAS,
there is a dearth of coastwise vessels to satisfy the needs of the
country both as public carriers and as support facilities of
enterprises duly registered, operating and doing business under
Philippine laws; and chanroblesvirtualawlibrary
WHEREAS, the geographical conditions of the country make it imperative
that the State give utmost encouragement and assistance to the
expansion of shipping facilities and services hand-in-hand with its
program of incentives to develop the other sectors of the country and
other activities in order for it to attain and sustain the desired rate
of growth towards economic self-sufficiency;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of
the Philippines, by virtue of the powers in me vested by the
Constitution, do hereby order and decree, as part of the law of the
land, the following: chanroblesvirtualawlibrary
Section 1. Section 806 of the Tariff and
Customs Code of the Philippines, as amended, is hereby amended to
read as follows: chanroblesvirtualawlibrary
"Section 806. Certificate of Philippine
Registry. — Upon registration of a vessel of domestic ownership, and of
more than fifteen tons gross, a certificate of Philippine registry
shall be issued for it. If the vessel is of domestic ownership, and of
fifteen tons gross or less, the taking of the certificate of
Philippine registry shall be optional with the owner.
"Domestic ownership, as used in this section means ownership vested in
citizens of the Philippines or corporations or associations organized
under the laws of the Philippines at least sixty per centum
of the capital stock or capital of which is wholly owned by
citizens of the Philippines, and, in the case of corporations or
associations which will engage in coastwise trade the president or
managing directors thereof shall be such citizens: Provided, That
the members of the crew of the vessel, except specialized
fishing vessels, shall all be citizens of the Philippines,
Provided, That the certificate of Philippine registry issued to a
vessel prior to the approval of this Code shall not be affected;
Provided, further, That any vessel of more than fifteen gross tons
which on February eight, nineteen hundred and eighteen, had a
certificate of Philippine registry under existing law, shall
likewise be, deemed a vessel of domestic ownership if there has been no
change in its ownership or if the capital of the association or capital
stock of the corporation owning such vessel has not been transferred to
persons who are not citizens of the Philippines and if any such vessels
should have been totally lost through shipwreck, collision or any other
marine disaster while being lawfully operated, it may be replaced with
another vessel of the same or lesser tonnage by the same person,
association or corporation owning and operating same by virtue of this
section, under such terms and conditions as may be prescribed by the
Maritime Industry Authority consistent with public policy and with the
view of its utility for government service in case of war or any public
emergency: Provided, further, That the controlling interest of the
association or corporation shall not be considered as held by the
citizen of the Philippines; (a) if less than sixty percent of the
capital or capital stock is held by such citizens or such capital or
capital stock is subject to any trust or fiduciary obligation in favor
of any person not a citizen of the Philippines; (b) if less than sixty
percent of the capital or capital stock in said association
or corporation entitled to vote is in the hands of citizens of
the Philippines; (c) if by means of (a) any contract or agreement, more
than forty percent of the capital or capital stock can be voted
directly or indirectly in favor of any person not a citizen of the
Philippines: or (d) if by other means, the control of more than forty
percent of the capital or capital stock of the association or
corporation is conferred upon or allowed to be exercised by any person
not a citizen of the Philippines."
Section 2. The above definition of "domestic
ownership" notwithstanding, an enterprise duly registered with
the Board of Investments, under R.A. 5186 or 6135, whether or not
entirely owned by foreign nationals, may register its own vessels under
the provision of the section immediately preceding if such
vessels are to be used exclusively to transport its own raw
materials and finished products in Philippine waters as an incident to
its manufacturing, processing or business activity registered with the
Board of Investments and certified to by said Board as an essential
element in the operation of the registered project.
Section 3. Any provision of the law, decree,
executive order, or rules and regulations to the contrary
notwithstanding, the Maritime Industry Authority is hereby vested
with the exclusive authority over the registration and documentation of
Philippine vessels, as well as the issuance of all certificates,
licenses or other documents necessary or incident to such
registration and documentation. chanroblesvirtualawlibrary
Section 4. The Maritime Industry Authority shall be
subject to approval by the Office of the President, issue such rules
and regulations implementing the provisions of this decree.
Section 5. All laws, decrees, executive orders, or
rules and regulations, or parts thereof, inconsistent with this Decree
are hereby repealed or modified accordingly. chanroblesvirtualawlibrary
Section 6. This Decree shall take effect immediately.
Done in the City of Manila,
this 31st day of July, in the year of Our Lord, nineteen hundred
and seventy-five.
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