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PRESIDENTIAL DECREE NO. 866
PRESIDENTIAL DECREE NO. 866 -
AMENDING PRESIDENTIAL DECREE NO. 760 BY REDUCING THE TERM OF THE LEASE
OR CHARTER PERIOD TO NOT LESS THAN ONE YEAR, DELETING THE WORD "TIME"
IN THE TITLE AND BODY OF THE DECREE, AND ALLOWING OVERSEAS USE IN
CERTAIN CASES
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WHEREAS,
the use of the term "time charter" in the decree is too technical and
restrictive as to exclude other forms of charter parties;chanroblesvirtualawlibrary
WHEREAS, the requirement of "not less than five years" for the charter
or lease period has deterred many a shipowner and/or charterer from
availing of the incentives under this decree;chanroblesvirtualawlibrary
WHEREAS, there is a need to give a certain degree of flexibility to the
charter or lessee in the use of the vessel;chanroblesvirtualawlibrary
WHEREAS, it is imperative to amend the decree accordingly so as to
attain the objectives sought to be achieved by the same.
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:cralaw:red
Section 1. The title of Presidential Decree No. 760
is hereby amended to read as follows:cralaw:red
"ALLOWING THE TEMPORARY REGISTRATION OF FOREIGN-OWNED VESSELS UNDER
[TIME] CHARTER OR LEASE TO PHILIPPINE NATIONALS FOR USE IN THE
PHILIPPINE COASTWISE TRADE SUBJECT TO CERTAIN CONDITIONS."
Section 2. Section 1 of Presidential Decree No. 760
is hereby amended to read as follows:cralaw:red
"Sec. 1. Any provision of law, decree, executive
order, or rules and regulations to the contrary notwithstanding, any
foreign-owned vessel under [time] charter or lease to a Philippine
national, as the term is defined in Section 3 of Presidential Decree
No. 474, may be issued a temporary certificate of Philippine registry
by the Maritime Industry Authority: Provided, That the said charter or
lease (1) has the prior written approval of the Maritime Industry
Authority, (2) shall be valid and effective for a period of not less
than [five] ONE YEAR, and (3) shall be used exclusively in the
coastwide trade in the Philippines, UNLESS OTHERWISE PERMITTED BY THE
MARITIME INDUSTRY AUTHORITY TO BE USED FOR OVERSEAS TRADE SUBJECT TO
TERMS AND CONDITIONS IT MAY IMPOSE: Provided, further, That the
operation of the vessel shall be entirely in the hands of Philippine
nationals and free from any participation or interference from the
alien owner, except insofar as such action shall be to directly protect
his rights as owner thereof: Provided, finally, That the registered
vessel shall be manned completely by a Filipino crew, except in the
case of specialized fishing vessel.
The effectivity of any charter or lease contract entered into pursuant
to this Decree shall not extend beyond the year 1990, unless otherwise
extended by the President of the Republic of the Philippines."
Section 3. This Decree shall take effect immediately.
Done in the City of Manila,
this 2nd day of January, in the year of Our Lord, nineteen hundred and
seventy-six.
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