AMENDING PRESIDENTIAL DECREE NO. 894 BY CHANGING THE WORDS "SHIPPING LINES" TO "VESSEL" OR "VESSELS" AS THE CASE MAY BE.

• Number: Presidential Decree No. 962
• Sections: 3

Preamble

WHEREAS, under Presidential Decree No. 806, a general policy

was adopted that Philippine flag vessels shall have at least equal shares as

vessels of another country in the carriage of international cargo between the

Philippines and that other country;

WHEREAS, Presidential Decree No. 894 was promulgated under

the general policy adopted in Presidential Decree No. 806 with the objective of

enabling Philippine flag air carriers and vessels to carry government and

government-financed or supported cargoes and passengers ;

WHEREAS, the use of the words "Philippine flag' shipping

lines" in Presidential Decree No. 894 has created confusion as to the real

meaning thereof;

WHEREAS, there is a need to amend Presidential Decree No.

894 as to conform to the definition of Philippine flag vessels under

Presidential Decree No. 806;

Now, therefore, I, Ferdinand E. Marcos, President of the

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

decree as part of the laws of the land:

Section 1

Section 1. Wherever used in Presidential Decree No. 894, the

words "shipping lines" are hereby amended and changed to read as "vessel" or

"vessels", as the case may be.

Section 2

Sec. 2. Sections 1, 2 and 3 of Presidential Decree No. 894

are hereby amended or modified accordingly.

This Decree shall take effect immediately.

Done in the City of Manila, this 14th day of July, in the Year of Our Lord,

nineteen hundred and seventy-six.

(Sgd.) FERDINAND E. MARCOS

President of the

Philippines

By the President:

(Sgd.) JACOBO C. CLAVE

Presidential Executive

Assistant.