WHEREAS, piracy and counterfeiting of audio and audio-visual
products have become rampant, resulting in serious financial prejudice to the
film and recording industries, and the loss of substantial tax revenues to the
Government ;
WHEREAS, it is imperative for the survival and protection of
the film and recording industries that certain provisions of Presidential Decree
No. 49, otherwise known as "Decree on Intellectual Property," be amended for the
purpose of lengthening the period within which a producer of a sound recording
must deposit two copies thereof with the National Library, and prescribing
stiffer penalties for piracy of sound recordings and motion pictures or other
audio-visual works;
WHEREAS, the current crisis in the movie industry amounts to
a grave emergency affecting the economic stability of the nation and the
livelihood of hundreds of thousands of families and workers dependent on the
industry;
WHEREAS, the issuance of this Decree will help in the
national economic recovery program designed to meet the emergency facing the
industry;
NOW. THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution, do hereby
decree: