Preamble
WHEREAS, Presidential Decree No. 961 was promulgated to promote the development of the coconut and other palm oil industry and to ensure that the coconut farmers become direct participants in, and beneficiaries of, such development; WHEREAS, there is a need to restructure the provisions of Presidential Decree No. 961 in order to meet the changes of the times and to provide more effective means of achieving the objectives of the coconut industry as expressed in said Decree; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order the following: TITLE AND POLICY OF THE STATE LEVIES Fund levy as provided in Section 1, Article III hereof. PENALTIES MISCELLANEOUS PROVISIONS