Preamble
WHEREAS, various government performance evaluation and/or study groups have recommended the disposition of all NASSCO properties and units, including the Engineer Island Shops (EIS), in the interest of the national government; WHEREAS, for all intents and purposes the Engineer Island where the shops and facilities are located, has through the years been treated as NASSCO's property as evidenced by its inclusion in NASSCO's fixed assets as reported by the Government's accountant and auditor; WHEREAS, in order to facilitate the disposition of all assets of NASSCO including the Engineer Island, there is a need to transfer ownership of said Island to NASSCO; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution of the Philippines, hereby decree as follows: