Preamble
WHEREAS, the expansion of the rural economy must be promoted by providing the means of facilitating and improving the productive capacities of the people of the rural communities; and WHEREAS, the law should adapt to changing conditions in order to attain its objectives and to better serve the credit requirements of small farmers, small merchants, small business enterprises, essential rural enterprises or industries and cooperatives. 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 amendment of Republic Act No. 720, as amended, as follows: