Preamble
WHEREAS, the provisions of Section 121 of Commonwealth Act No. 141, as amended by Commonwealth Act No. 615, limit the right of corporations, partnerships or associations to acquire or have any right to lands originally granted under the free patent, homestead or individual sale provisions of the said Act, only for educational, charitable, religious or right of way purposes; WHEREAS, such restriction has been an obstacle to the efforts of the private sector to accelerate economic development; WHEREAS, it is necessary in the national interest to remove the restriction imposed by Commonwealth Act Mo. 615 on the right of juridical entities to acquire such lands for commercial or industrial purposes. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution of the Philippines, do hereby decree as follows: