Rules and Regulations.
SEC. 32. Rules and Regulations.—The Ministry shall
promulgate rules and regulations to implement the intent and provisions of this
Decree. However, the Board shall promulgate its rules and regulations on the
registration and availment of Board of incentives of agricultural producers or
enterprises registered with it. Such rules and regulations shall take effect
fifteen (15) days following its publication in the Official Gazette and/or a
newspaper of general circulation.
Benefits of Multiple Area Enterprises.
SEC. 33. Benefits of Multiple Area Enterprises.
—When a registered enterprise is engaged in activities or endeavors that have
not been declared preferred areas of investment, the benefits and incentives
accruing under this Decree to registered enterprises and investors therein shall
be limited to the portion of the incentives of such registered enterprises as is
a preferred area of investment.
Extension of the Period of Availment of Incentives.
SEC. 34. Extension of the Period of Availment of
Incentives. —The Board may extend the period of availment of fiscal
incentives by any registered enterprises by a period to be determined by the
Board, subject to any of the following criteria:
The registered enterprise has suffered heavy financial losses and is m a
distressed condition;
The registered enterprise has suffered operational damage due to force
majeure that has impaired its viability;
The registered enterprise has not fully enjoyed the incentives granted to it
for reasons beyond its control;
The project of the registered enterprise has a gestation period which goes
beyond of availment of needed incentives; and
The operations of the registered enterprise has been subjected to unforseen
changes in government policies, particularly, protectionism policies of
importing countries, and such other supervening factors which would affect the
competitiveness of the registered firm.
Cancellation of Registration.
SEC. 35. Cancellation of Registration. —After due
notice and hearing, the Board may cancel the registration or suspend the
enjoyment of incentives benefits of any registered agricultural producer and/or
enterprise and/or require refund of incentives enjoyed by such producer or
enterprise including interests and penalties, for (a) failure to maintain the
qualifications required by this Decree for registration or (b) for violation of
any provisions of this Decree, of the rules and regulations issued under this
Decree, or of the terms and conditions of registration.
Appropriations.
SEC. 36. Appropriations. —Appropriations necessary
to carry out the purposes of this Decree shall come from the existing funds of
the Ministry and/or Board.
Separability Clause.
SEC. 37. Separability Clause.—The provisions of
this Decree are hereby declared to be separable and in the event any of such
provisions or parts thereof is declared unconstitutional, the other provisions
or parts thereof shall remain in full force and effect.
Repealing Clause.
SEC. 38. Repealing Clause.—The provisions of
Article 47 of the Omnibus Investments Code and Section 13 of Batas Pambansa Blg.
391 are hereby repealed. All laws, decrees, executive orders, administrative
orders, rules and regulations or parts thereof which are inconsistent with the
provisions of this Decree are hereby repealed, amended or modified
accordingly.
Transitory Provisions.
SEC. 39. Transitory Provisions.—Enterprises
registered under Presidential Decree Nos. 1159 and 1789 shall continue to enjoy
the incentives under the laws of their registration for the period specified
therein without any extensions, Provided, That said enterprise, if
qualified hereunder, may waive such incentives and opt to be governed by the
provisions of this Decree.
Effectivity Clause.
SEC. 40. Effectivity Clause.—This Decree shall take
effect immediately upon approval.
Done in the City of Manila on this 4th day of February, in the year of Our
Lord, nineteen hundred and eighty-six.
(Sgd.) FERDINAND E. MARCOS
President of the
Philippines
By the President:
(Sgd.) JUAN C. TUVERA
Presidential Executive
Assistant
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
