FURTHER DEFINING THE AUTHORITY OF THE PRESIDENTIAL ANTI-DOLLAR SALTING TASK FORCE

• Number: Presidential Decree No. 1936
• Sections: 2

Preamble

WHEREAS, the foreign exchange problems now facing the

country require, among others, the adoption of effective emergency measures to

immobilize or stop those who undermine national efforts to solve them;

WHEREAS, one of the measures taken is the creation of a

Presidential Anti-Dollar Salting Task Force headed by the Minister of Trade and

Industry to identify and prosecute those engaged in the salting of foreign

exchange, dollar marketing- and other acts in violation of foreign exchange

regulations; and

WHEREAS, the Presidential Anti-Dollar Salting Task Force

needs to be provided with adequate authority to enable it to

meaningfully and effectively perform the tasks for which it was created;

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

Philippines, by virtue of the powers vested in me by the Constitution do hereby

order and ordain:

Section 1 Powers of the Presidential Anti-Dollar Salting Task Force.

SECTION 1. Powers of the Presidential Anti-Dollar Salting

Task Force.—The Presidential Anti-Dollar Salting Task Force, hereinafter

referred to as Task Force, shall have the following powers and authority:

Motu propio or upon complaint, to investigate and prosecute all dollar

salting activities, including the overvaluation of imports and the

undervaluation of exports;

To administer oaths, summon persons or issue subpoenas requiring the

attendance and testimony of witnesses or the production of such books, papers,

the period from May 1, 1984 to April 30, 1985. I call upon all citizens and

residents of the country, irrespective of nationality, ace or creed, to assist

in the endeavor by giving generously of their means and to actively support the

campaign. I further call upon all government agencies, including the Ministries

of Foreign Affairs, Tourism, Trade, Public Information and the Nation Media

Production Center, to assist the Foundation in its laudable objectives. It is

hereby reiterated that all donations or contributions made by private entities

or persons to the Foundation's Fund Campaign shall be exempt from income and

gift taxes, and the same shall constitute allowable deductions full from the

income of the donors and contributors for income tax purposes.

I also call upon and authorize all government finance institutions,

government corporations and other government agencies to donate generously from

their funds to the Foundation, in consideration of the fact that the Zarzuela

appearances abroad are a major project of the Ministry of Tourism. Such

donations shall be considered exception to the provisions of Letter of

Instructions Nos. 805 and 828.

IN WITNESS WHEREOF, I have hereunto set my hand and caused

the seal of the Republic of the Philippines to be affixed.

Done in the City of Manila, this 15th day of May, in the year of Our Lord,

nineteen hundred and eighty-four.

(Sgd.) FERDINAND E. MARCOS

President of the

Philippines

By the President:

(Sgd.)JUAN C. TUVERA

Presidential Executive Assistant