AMENDING SECTION EIGHT HUNDRED SIX OF THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES, AS AMENDED, BY ALLOWING THE REGISTRATION OF VESSELS THE OWNERSHIP OF WHICH IS VESTED IN CORPORATIONS OR ASSOCIATIONS, AT LEAST SIXTY PERCENT OF THE CAPITAL STOCK OR CAPITAL OF WHICH BELONG TO CITIZENS OF THE PHILIPPINES, AND FOR OTHER PURPOSES.

• Number: Presidential Decree No. 761
• Sections: 8

Preamble

WHEREAS, there is a dearth of coastwise vessels to satisfy

the needs of the country both as public carriers and as support

facilities of enterprises duly registered, operating and doing business

under Philippine laws; and

WHEREAS, the geographical conditions of the country make it

imperative that the State give utmost encouragement and assistance to

the expansion of shipping facilities and services hand-in-hand with its

program of incentives to develop the other sectors of the country and

other activities in order for it to attain and sustain the desired rate

of growth towards economic self-sufficiency;

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, as part of the law of the

land, the following:

Section 1

SECTION 1. Section 806 of the Tariff and Customs Code of the

Philippines, as amended, is hereby amended to read as follows:

Section 2

SEC. 2. The above definition of "domestic ownership"

notwithstanding, an enterprise duly registered with the Board of

Investments, under R.A. 5186 or 6185, whether or not entirely owned by

foreign nationals, may register its own vessels under the provisions of

the section immediately preceding if such vessels are to be used

exclusively to transport its own raw materials and finished products in

Philippine waters as an incident to its manufacturing, processing or

business activity registered with the Board of Investments and certified

to by said Board as an essential element in the operation of the

registered projects.

Section 3

SEC. 3. Any provision of the law, decree, executive

order, or rules and regulations to the contrary notwithstanding, the

Maritime Industry Authority is hereby vested with the exclusive

authority over the registration and documentation of Philippine vessels,

as well as the issuance of all certificates, licenses or other

documents necessary or incident to such registration and documentation.

Section 4

SEC. 4. The Maritime Industry Authority shall be subject

to approval by the Office of the President, issue such rules and

regulations implementing the provisions of this decree.

Section 5

SEC. 5. All laws, decrees, executive orders, or rules

and regulations, or parts thereof, inconsistent with this Decree are

hereby repealed or modified accordingly.

Section 6

SEC. 6. 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

Section 806 Certificate of Philippine Registry.

Section 806. Certificate of Philippine Registry.—Upon

registration of a vessel of domestic ownership, and of more than

fifteen tons gross, a certificate of Philippine registry shall be issued

for it. If the vessel is of domestic ownership and of fifteen tons

gross or less, the taking of the certificate of Philippine registry

shall be optional with the owner.

"Domestic ownership', as used in this section, means ownership

vested in citizens of the Philippines or corporations or associations of

more than forty percent of the capital or capital stock of the

association or corporation is conferred upon or allowed to be exercised

by any person not a citizen of the Philippines."