Preamble
WHEREAS, the Southeast Asian Regional Center for Graduate Study And Research in Agriculture (SEARCA) is a non-profit and non-stock corporation dedicated to provide technical and educational assistance on problems related to agricultural development of member countries, which include the Philippines, Thailand, Laos, Kampuchea, Singapore, Vietnam, Malaysia and Indonesia; WHEREAS, SEARCA continues to articulate Philippine Commitment to regional cooperation among Southeast Asian and other countries in Asia and elsewhere through education, science and culure; WHEREAS, Republic Act No. 6450, entitled "An Act Exempting from Certain Taxes the Southeast Asian Regional Center for Graduate Study and Research in Agriculture, And for other Purposes" expired on June 18, 1977 and there is a need to extend the tax privileges provided therein; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following as part of the law of the land: