Loans to the Fishery Industry.
SEC. 42. Loans to the Fishery Industry.—The
Development Bank of the Philippines, the Philippine National Bank, and
the Philippine Veterans Bank and other government-owned or controlled
banking or financial institutions and rural banks shall make loans
available to eligible borrowers as their respective charters and
articles of incorporation and by-laws provide and policies of the
Central Bank of the Philippines allow: Provided, That projects of
veterans and their qualified heirs within the purview of the Program
shall be funded by the Philippine Veterans Bank, with priority to
family-size fishponds: Provided, Further, That the Development Bank of
the Philippines, the Philippine National Bank, and the Philippine
Veterans Bank and other government-owned or controlled banking or
financial institutions and rural banks dealing with medium and long-term
loans shall:
Grant loans for the development, rehabilitation and maintenance
of fishponds, fishpens and acquisition of fishing boats and fishing
equipment;
Extend loan for production, handling, processing and marketing,
including the establishment and operation of refrigerating plants and
cold storage facilities;
Grant loans to leaseholders of public lands for the development
of fishponds: Provided, That the duration of the lease contract
shall be longer than the period of repayment of the loan.
All loans shall be extended under supervised credit as prescribed by
Republic Act Numbered Sixty-three hundred and ninety or other laws, or
under project supervision.
Financing of Municipal and/or Small-Scale Fishing.
SEC. 43. Financing of Municipal and/or Small-Scale
Fishing.—Municipal and/or small-scale fishermen who are members of a
cooperative may avail of financing from any fund administered by the
Central Bank or from rural banks under a supervised credit scheme. Such
loan may cover the acquisition and/or repair of bancas, engines and
fishing equipment.
Establishment and Operation of Refrigerating and Cold-Storage Plants.
SEC. 44. Establishment and Operation of Refrigerating
and Cold-Storage Plants.—Any provision of law to the contrary
notwithstanding, any person, association, cooperative or corporation may
establish and operate, subject to the guidelines established by the
Council and the approval of the Secretary, refrigerating and cold
storage plants which shall serve the fishing industry exclusively.
Exemption of Fishermen from Operation of the Blue Sunday Law and the Eight-Hour Labor Law.
SEC. 45. Exemption of Fishermen from Operation of the
Blue Sunday Law and the Eight-Hour Labor Law.— Fishermen on board
fishing boats engaged in fishing operations are hereby exempted from the
provisions. of the Blue Sunday Law and the Eight-Hour Labor Law.
Auditor.
SEC. 46. Auditor.—The Chairman, Commission on
Audit, shall act as the ex-officio auditor of the Fishery Industry
Development Council and the Bureau of Fisheries and Aquatic Resources.
The provisions of Section 584 of the Revised Administrative Code, as
amended by Presidential Decree No. 61, shall apply to the office of the
representative of the said Chairman in the Council and the Bureau.
Receipts of Bureau automatically appropriated for certain purposes.
SEC. 47. Receipts of Bureau automatically appropriated
for certain purposes.—In addition to the amount appropriated for the
Bureau in the annual general appropriations act/decree, all fees
collected pursuant to this Decree and the rules and regulations
promulgated by virtue of this Decree and other laws, bonds that may be
forfeited, fines, proceeds from the sale of fish and fishery/aquatic
products raised in fish farms, experimental and demonstration stations,
rentals from fishponds and receipts from other sources except the
proceeds of the sale of assets of the Bureau, will be released by the
President upon recommendation of the Secretary annually and made
available to the Bureau for the conservation and development of
fishery/aquatic resources, construction of permanent improvement
including offices and other buildings and acquisition of sites,
promotion and development of the fishing industry, operation and
maintenance of experimental fishery stations, and for salaries and wages
of necessary personnel.
Appropriation.
SEC. 48. Appropriation.—The sum of twenty-one
million pesos (P21,000,000.00) one million pesos (P1,000,000.00) of
which shall be for the operational expenses of the Fishery-Industry
Development Council for the current fiscal year and the remaining
balance to constitute the Fisheries Loan and Guarantee Fund, is hereby
authorized to be appropriated out of any funds in the National Treasury
not otherwise appropriated.
Repealing Clause.
SEC. 49. Repealing Clause.—Presidential Decrees
Nos. 43, 534 and 553, Act No. 4003, as amended, Republic Acts No. 428,
as amended, 3048, 3512, and 3586, and all Decrees, Acts, Executive
Orders, rules, regulations or parts thereof inconsistent with the
provisions of this Decree are hereby repealed or modified accordingly.
Separability Clause.
SEC. 50. Separability Clause.—The provisions of
this Decree are hereby declared to be separable and, if any clause,
sentence, provision or section of this Decree or application thereof to
any person or circumstance should for any reason be held invalid, such
invalidity shall not affect the other provisions or application of this
Decree.
Effectivity.
SEC. 51. Effectivity.—This Decree shall take effect
upon promulgation.
Done in the City of Manila, this 16th day of May, in the year of
Our Lord, nineteen hundred and seventy-five.
(Sgd.)
FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.)
ALEJANDRO MELCHOR
Executive Secretary
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
