WHEREAS, Presidential Decree No. 264, dated August 2, 1973,
has treated the Philippine Amanah Bank, with an authorized capital stock
of one hundred million pesos (P100,000,000) designed "to provide
credit, commercial, development and savings banking facilities at
reasonable terms to the people of the primarily Muslim provinces of
Mindanao and Palawan, for the establishment, acquisition, development
and expansion of agricultural, commercial and industrial enterprises";
WHEREAS, out of the authorized capital stock of one hundred
million pesos (P100,000,000) of the Philippine Amanah Bank, the Republic
of the Philippines is bound to subscribe, pursuant to Section 3(a) of
Presidential Decree No. 264, three hundred thousand common shares at one
hundred pesos (P100) per share, equivalent to thirty million pesos
(P30,000,000); and
WHEREAS, the stock subscription of the Republic of the
Philippines to the three hundred thousand common shares in the amount of
thirty million pesos (P30,000,000) has not been provided in the current
Appropriation Decree No. 233, which became operative on July 1, 1973;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution
and pursuant to General Order No. I, dated September 22, 1972, issued in
pursuance of Proclamation No. 1081, dated 21 September 1972, do hereby
decree:
That out of the funds in the National Treasury not otherwise
appropriated, the sum of thirty million pesos (P30,000,000) is hereby
appropriated for the purposes herein provided in this Decree".
This Decree shall take effect immediately.
Done in the City of
Manila, this 19th day of October, in the year of Our Lord, nineteen
hundred and seventy-three.
(Sgd.) FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.) ROBERTO V. REYES
Assistant Executive Secretary