Preamble
WHEREAS, under Republic Act No. 6038 which governs electric cooperatives, and Presidential Decree No. 40 and Letter of Instructions No. 38, the primary power and responsibility of promoting, organizing, registering, assisting and regulating electric cooperatives is vested in the National Electrification Administration; WHEREAS, Presidential Decree No. 175, entitled "Strengthening the Cooperative Movement" however, repealed all past cooperative laws and vested in the Department of Local Government and Community Development the full authority to promulgate rules and regulations to govern the promotion, organization, registration, regulation and supervision of all types of cooperatives; WHEREAS, there is an imperative need to exclude electric cooperatives from the operation of Presidential Decree No. 175 in consonance with present developmental plans in the light of the government's policy accelerating the development of rural electrification by converting the National Electrification Administration into a national corporation. 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.