Preamble
WHEREAS, a parallel measure to the emancipation of tenant-farmers from feudal bondage, as provided for in Presidential Decree No. 27, dated October 21, 1972, is a provision for a strong social and economic organization and system to ensure that they will enjoy on a lasting basis the benefits of agrarian reform; WHEREAS, there arc equally less fortunate segments of our society who are in need of social and economic amelioration and should have the right to enjoy the privilege of self-development, social growth and economic independence under a truly just and democratic society; WHEREAS, there is a need to increase income and purchasing power of the low-income sector of the population in order to attain a more equitable distribution of income and wealth; WHEREAS, the cooperative institution is a means of attaining a more equitable distribution of income and wealth and providing the common man a dignified level of existence; and WHEREAS, the Bayanihan Spirit is an inborn trait of the Filipino people which if properly guided can serve as a strong foundation of cooperative institutions; NOW, THEREFORE, in order to effect the desired changes and reforms in the economic, social and political structure of our society, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, do hereby order and decree the following: