REQUIRING THE APPROVAL OF THE PHILIPPINE TOURISM AUTHORITY ON CERTAIN DEVELOPMENT PROJECTS AND LOANS APPLIED FOR TO FINANCE THEIR CONSTRUCTION, ETC.

• Number: Presidential Decree No. 381
• Sections: 6

Preamble

I, FERDINAND E. MARCOS, President of the Philippines, by

virtue of the powers in me vested by the Constitution as

Commander-in-Chief of all the Armed Forces of the Philippines, and

pursuant to Proclamation No. 1081, dated September 21, 1972, and General

Order No. 1, dated September 22, 1972, as amended, do hereby order and

decree:

Section 1

SECTION 1. Any provision of existing laws, decrees, or

rules to the contrary notwithstanding, no development project for

tourism purposes shall be undertaken by any person without the prior

approval of the Philippine Tourism Authority, in accordance with the

policies and guidelines prescribed by the Department of Tourism.

Section 2

SEC. 2. No loan or loans shall be extended by any financial

institution to any person to finance the establishment, construction,

rehabilitation, management and/or operation of any development project

for tourism purposes without the prior approval of the Philippine

Tourism Authority, in accordance with the policies and guidelines

prescribed by the Department of Tourism.

Section 3

SEC. 3. The Board of the Philippine Tourism Authority shall

promulgate the necessary rules and regulations in accordance with the

policies and guidelines prescribed by the Secretary of Tourism to

implement and carry out effectively the purpose, spirit and objective of

this Decree.

Section 4

SEC. 4. Any person violating or causing another to violate

any provision of this Decree or of the rules and regulations promulgated

by the Philippine Tourism Authority pursuant to the next preceding

section shall suffer the penalties provided under Section 4-B of

Presidential Decree No. 189, as amended.

Section 5

SEC. 5. This Decree shall take effect immediately.

Done in the City of Manila, this 24th day of January, in the year

of Our Lord, nineteen hundred and seventy-four.

(Sgd.) FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.) ROBERTO V. REYES

Assistant Executive Secretary