INSTITUTING A PROCEDURE FOR THE MANAGEMENT OF PROCEEDS OF TAXES AND FEES EARMARKED FOR OR ADMINISTERED BY THE PHILIPPINE TOURISM AUTHORITY

• Number: Presidential Decree No. 1447
• Sections: 5

Preamble

WHEREAS, the Philippine Tourism Authority (PTA) has been

created as the government's implementing arm in integrating activities and

services related to tourism development; and

WHEREAS, there is a need to transform it into a more

effective instrument geared towards the development of the various tourism

infrastructure projects in the country;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Republic of the Philippines, by virtue of the powers vested in me by the

Constitution, do hereby order as follows:

Section 1

SECTION 1. All funds earmarked for or administered by the

PTA pursuant to P.D. No. 189, as amended by P.D. No. 564 collected by the

Philippine Tourism Authority and/or other government agencies shall be remitted

to the National Treasury on a quarterly basis.

Section 2

SEC. 2. The proceed of all collections pursuant to Section 1

hereof, shall be utilized exclusively for the operations and projects of the

Philippine Tourism Authority and shall be released automatically by the National

Treasury upon approval by the PTA Board of its budgetary requirements, as an

exception to P.D. No. 1234 and the budgetary processes provided in P.D. No.

1177: Provided, That fund releases for expenditures on capital outlays

and special undertakings shall be subject to specific approval by the

President.

Section 3

SEC. 3. Executive Order No. 499, s.1978, is hereby repealed

and all provisions of laws, decrees, executive orders, letters of instructions

or portions thereof contrary to the provisions of this Decree are hereby amended

or modified accordingly.

Section 4

SEC. 4. This Decree shall take effect immediately.

Done in the City of Manila, this 11th day of June, in the year of Our Lord,

nineteen hundred and seventy-eight.

(Sgd.) FERDINAND E. MARCOS

President of the

Philippines

By the President:

(Sgd.) JACOBO C. CLAVE

Presidential Executive

Assistant