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.

• Number: Presidential Decree No. 2008
• Sections: 4

Preamble

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 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:

Section 2

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this Decree are hereby repealed, amended or modified accordingly.

Section 3

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