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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 935 - AMENDING
Sec. 5(A) OF EXECUTIVE ORDER NO. 857 ENTITLED “GOVERNING THE
REMITTANCE TO THE PHILIPPINES OF FOREIGN EXCHANGE EARNINGS OF FILIPINO
WORKERS ABROAD AND FOR OTHER PURPOSES”
WHEREAS, Filipino overseas contract workers
are mandated by existing law to remit to the Philippines seventy
percent (70%) of their foreign exchange earnings;
WHEREAS, to ensure that the foreign exchange earnings of these workers
are remitted through authorized financial institutions of the
Philippine Government, Sec. 5(a) of Executive Order No. 857 requires
contract workers to submit a confirmed Bank (foreign) remittance form;
otherwise, these workers shall be suspended or excluded from the list
of eligible workers for overseas employment;
WHEREAS, contract workers while complying with the requirement of
submitting a confirmed bank (foreign) remittance form, have been able
to evade the actual remittance to the Philippines of their foreign
exchange earnings, thru fraudulent and ingenious means, to the
detriment of the country’s economic development program;
WHEREAS, it is imperative that the mandatory remittance requirement be
fully complied with;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution and by law, do
hereby order:
Section 1.
“SEC.
5.
“a.
Sec. 2.
Sec. 3.
DONE in the City of Manila,
this 28th day of February, in the year of Our Lord nineteen hundred and
eighty-four.
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