Presidential Decree No. 2008 (PD 2008) — Further Strengthening the Cooperative Movement by Amending Certain Provisions of Presidential Decree Numbered One Hundred Seventy-Five, as Amended by Presidential Decree Numbered Nineteen Hundred and Fifty-Five.
WHEREAS, cooperatives constitute institutional vehicles to
enhance productivity and increase the income of the people through built-in
mechanisms of economics of scale, cost-sharing and risk-sharing;
WHEREAS, it is vital and necessary for the government to
encourage people to organize cooperatives that will provide for their need at
the lowest possible cost and at the same time increase their incomes and
productivity;
WHEREAS, to strengthen the cooperatives, there is need to
restore to them certain privileges which were suspended by PD 1955.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines by virtue of the powers vested in me by the Constitution, do hereby
decree:
SECTION 1. Section 4 of Presidential Decree Numbered One
hundred Seventy-Five, as amended by Presidential Decree Numbered Nineteen
Hundred and Fifty-Five, is hereby amended to read as follows
“SEC. 4 Powers of Cooperatives. – Cooperatives
shall have the following powers:
SEC. 2. All laws, Decrees, Executive Orders, and
Regulations, and other issuances or parts thereof which are inconsistent with
this Decree are hereby repealed, amended or modified accordingly.
SEC. 3. Effectivity. This Decree shall take effect
immediately.
Done in the City of Manila, on this 3rd day of January, in the year of Our
Lord, nineteen hundred and eighty-six.
(Sgd.) FERDINAND E. MARCOS
President of the
Philippines
By the President:
(Sgd.) JOAQUIN T. VENUS, JR.
Deputy Presidential Executive
Assistant
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
