Preamble
WHEREAS, the speedy disposition of certain parcels of land, which form part of the assets of the Land Settlement and Development Corporation under liquidation by the Board of Liquidators, has been seriously hampered because of certain provisions contained in Section 10 of Republic Act Numbered Eleven Hundred and Sixty requiring the disposition thereof through public bidding; WHEREAS, more often than not, the poor people who are in actual possession of the aforementioned LASEDECO lots and who are qualified to acquire the same will be deprived of the opportunity to own such lots by moneyed speculators who can certainly outbid them in the public auction prescribed under the provisions of the aforesaid section; WHEREAS, it is the declared policy of the New Society to facilitate the distribution of lands to the landless tenants and farm workers in the country, to achieve a rising level of production, generate employment opportunities, and to improve the living standards of the people; NOW, THEREFORE. I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby order and decree: