Presidential Decree No. 760 (PD 760) — Allowing the Temporary Registration of Foreign-Owned Vessels Under Time Charter or Lease to Philippine Nationals for Use in the Philippine Coastwise Trade Subject to Certain Conditions.
WHEREAS, in the interest of the national economy, it is
imperative that Philippine domestic shipping be expanded to meet the
ever-increasing inter-island cargo and passenger traffic;
WHEREAS, due to the heavy capital requirements of the
shipping industry, local ship owners and operators cannot raise
sufficient financial resources to acquire new tonnage to replace their
uneconomic and over aged fleet; and
WHEREAS, in order to alleviate the present plight of
domestic shipping, it is necessary to temporarily relax certain aspects
of the restrictive and constrictive legal framework under which vessels
may be registered in the Philippines;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Republic of the Philippines, by virtue of the powers in me vested by the
Constitution, do hereby order and decree the following as part of the
law of the land:
SECTION 1. Any provision of law, decree, executive order, or
rules and regulations to the contrary notwithstanding, any
foreign-owned vessel under time charter or lease to a Philippine
national, as the term is defined in Section 3 of Presidential Decree No.
474, may be issued a temporary certificate of Philippine registry by
the Maritime Industry Authority: Provided, That the said
Charter or lease (1) has had the prior written approval of the Maritime
Industry Authority, (2) shall be valid and effective for a period of not
less than five years, and (3) shall be used exclusively in the
coastwise trade in the Philippines: Provided, further, That the
operation of the vessel shall be entirely in the hands of Philippine
nationals and free from any participation or interference from the alien
owner, except insofar as such action shall be to directly protect his
rights as owner thereof: Provided, finally, That the registered
vessel shall be manned completely by a Filipino crew, except in the
case of specialized fishing vessel.
The effectivity of any charter or lease contract entered into
pursuant to this Decree shall not extend beyond the year 1990, unless
otherwise extended by the President of the Republic of the Philippines.
SEC. 2. Any vessel issued a temporary certificate of Philippine
registry as provided for in the section immediately preceding shall be
entitled to all the rights and privileges of a vessel of Philippine
registry, as well as the protection of Philippine law so long as its
temporary certificate of registration is valid and subsisting.
Correspondingly, the vessel shall also be subject to all requirements,
limitations and all the duties and obligations imposed upon vessels of
Philippine registry.
SEC. 3. The Maritime Industry
Authority shall promulgate the rules and regulations, together with the
procedures and guidelines, for the implementation of this Decree,
subject to approval by the Office of the President.
SEC. 4. Any provision of law, decree, executive order,
or rules and regulations inconsistent with this Decree is hereby
repealed, amended or modified accordingly.
SEC. 5. This Decree shall take effect immediately.
Done in the City of Manila, this 31st day of July, 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).
