AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NUMBERED ELEVEN HUNDRED AND SIXTY, ENTITLED "AN ACT TO FURTHER IMPLEMENT THE FREE DISTRIBUTION OF AGRICULTURAL LANDS OF THE PUBLIC DOMAIN AS PROVIDED FOR IN COMMONWEALTH ACT NUMBERED SIX HUNDRED AND NINETY-ONE, AS AMENDED, TO ABOLISH THE LAND SETTLEMENT AND DEVELOPMENT CORPORATION CREATED UNDER EXECUTIVE ORDER NUMBERED THREE HUNDRED AND FIFTY-FIVE, DATED OCTOBER TWENTY-THREE, NINETEEN HUNDRED AND FIFTY, AND TO CREATE IN ITS PLACE THE NATIONAL RESETTLEMENT AND REHABILITATION ADMINISTRATION, AND FOR OTHER PURPOSES.

• Number: Presidential Decree No. 671
• Sections: 3

Preamble

WHEREAS, the speedy disposition of certain parcels of land,

which form part of the assets of the Land Settlement and Development

Corporation under liquidation by the Board of Liquidators, has been

seriously hampered because of certain provisions contained in Section 10

of Republic Act Numbered Eleven Hundred and Sixty requiring the

disposition thereof through public bidding;

WHEREAS, more often than not, the poor people who are in

actual possession of the aforementioned LASEDECO lots and who are

qualified to acquire the same will be deprived of the opportunity to own

such lots by moneyed speculators who can certainly outbid them in the

public auction prescribed under the provisions of the aforesaid section;

WHEREAS, it is the declared policy of the New Society to

facilitate the distribution of lands to the landless tenants and farm

workers in the country, to achieve a rising level of production,

generate employment opportunities, and to improve the living standards

of the people;

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

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

do hereby order and decree:

Section 1

SECTION 1. The second paragraph of Section 10 of Republic

Act No. 1160 is hereby amended to read as follows:

"SEC. 10. x x x x x x

"All assets of the LASEDECO, including farm machinery and

equipment, shall be turned over to the Board of Liquidators and shall be

sold at public auction, the proceeds thereof to be used in paying off

its accounts with commercial firms and net proceeds to be transferred

to the National treasury: Provided, that the lands whose awards,

allocations and/or assignments have been cancelled and or annulled shall

be disposed of and awarded through negotiated sale to qualified

applicants thereof at reasonable price, payable in cash or for a period

of not more than five (5) years from the date of execution of the sale

with interest at six per cent (6%) per annum."

Section 2

SEC. 2. This decree shall take effect immediately.

Done in City of Manila, this I3th day of March in the year of

our Lord nineteen hundred and seventy-five.

(Sgd.)

FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.)

ROBERTO V. REYES

Assistant

Executive Secretary