EXECUTIVE ORDER NO. 434  - TEMPORARILY LIFTING THE PROVISIONS OF Sec. 514, TITLE III, BOOK I OF REPUBLIC ACT NO. 1937, AS AMENDED, AND THOSE OF EXECUTIVE ORDER NO. 425, SERIES OF 1974, WITH RESPECT TO WOOD PRODUCTS

Pursuant to the powers vested in me by Sec. 515, entitled: “Flexible Clause”, of Republic Act No. 1937, as amended by Presidential Decree No. 230, I, FERDINAND E. MARCOS, President of the Philippines, do hereby direct and order that:  

Section 1. Any provision of law, decree, executive order, rules and regulations to the contrary, notwithstanding, the provisions of Sec. 514, Title III, Book I of Republic Act No. 1937, as amended, fixing the basic rate of export duties and collecting the same from the F.O.B. value of wood products, as well as those of Executive Order No. 425, series of 1974, Levying, assessing and collecting a premium duty on the difference between the current price and the base price of the same commodities, are hereby temporarily lifted: Provided, that said provisions may later on be restored by the President of the Philippines, as the circumstances may warrant, upon the recommendation of the National Economic and Development Authority.

Sec. 2. This Order shall take effect and shall be implemented immediately.

Done in the City of Manila, this 2nd day of October, in the year of Our Lord, nineteen hundred and seventy-four.
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