AMENDING PARAGRAPH (A-1) OF SECTION SIX OF REPUBLIC ACT NUMBERED SEVENTEEN HUNDRED AND EIGHTY-NINE, AS AMENDED, OTHERWISE KNOWN AS THE REPARATIONS LAW

• Number: Presidential Decree No. 443
• Sections: 6

Preamble

WHEREAS, Paragraph (a-1) of Section 6 of Republic Act

Numbered 1789, as last amended by Presidential Decree No. 332, requires

private applicant end-users to pay a cash down payment of ten (10%)

percent of the value of the project applied for as one of the conditions

for the issuance of procurement order;

WHEREAS, the private applicant end-users find said ten (10%)

percent cash down payment to be a big drain of their finances which are

needed for the initial investment in the preparatory works for their

projects, and have requested a reduction of said cash down payment; and

WHEREAS, the requested reduction in the cash down payment

would greatly help said applicant end-users in successfully putting up

their projects which will eventually contribute to the national economy;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Philippines, by virtue of the powers vested in me by the Constitution,

do hereby decree and order the amendment of Paragraph (a-l) of Section 6

of Republic Act No. 1789, as amended, as follows:

Section 1

SECTION 1. The

following condition in Paragraph (a-l) of Section 6 of Republic Act No.

1789, as amended, relative to the conditions for the issuance of

procurement order for the acquisition of reparations goods and/or

services intended for private parties, is hereby amended to read as

follows:

* * * * * * *

Section 2

SEC. 2. This amendment shall have

retroactive effect as of November 9, 1973, the date of effectivity of

Presidential Decree No. 332.

Section 3

SEC. 3. All provisions of Republic

Act No. 1789, as amended, the rules and regulations promulgated

thereunder, and all other laws, decrees, executive orders, or parts

thereof, inconsistent with this Decree are hereby repealed, modified

and/or amended accordingly.

Section 4

SEC. 4. This Decree shall take effect

immediately.

Done in the City of Manila, this 2nd day of May in the year of Our

Lord, nineteen hundred and seventy-four.

(Sgd.) FERDINAND E.

MARCOS

President of the Philippines

By the President:

(Sgd.) ALEJANDRO

MELCHOR

Executive Secretary

Section 6

SECTION 6.

x x x x

(a-1) x x x; (3) the project concerned must be among those

specifically included in the reparations schedule agreed upon and

effective between the Philippine and Japanese Governments at the time of

issuance of the procurement order: Provided, That no procurement

order shall be issued until after the private applicant end-user

concerned shall have made a cash down payment for the project applied

for which shall be five (5%) percent of the value of the project

computed at the current rate of exchange of the peso to the U.S. dollar

prevailing at the time of payment; x x x