Presidential Decree No. 761 (PD 761) — 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.
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 806 of the Tariff and Customs Code of the
Philippines, as amended, is hereby amended to read as follows:
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.
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.
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.
SEC. 5. All laws, decrees, executive orders, or rules
and regulations, or parts thereof, inconsistent with this Decree are
hereby repealed or modified accordingly.
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
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."
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
