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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1445 |
Force The Governor, Central Bank of the Philippines, The Chairman, Commission on Audit
WHEREAS, a reward system for information leading to the arrest and conviction of persons violation Presidential Decree No. 1883 was established by the Central Bank of the Philippines pursuant to Letter of Instructions No. 1366;
WHEREAS, expressly expected from the said reward systems are officers or employees of any intelligence or law enforcement agency and any Government office or agency involved in the operations;
WHEREAS, the Presidential Anti-Dollar Salting Task Force (the "Task Force") created under Executive Order No. 934, was directed under Letter of Instructions No. 1412 to assume exclusive jurisdiction in case involving dollar salting and blackmarketing;
WHEREAS, agents of the Task Force including certain intelligence and law enforcement agents are relentlessly engaged in the drive for the eradication and cessation of pernicious dollar and foreign currency blackmarketing and dollar salting and its agents are exposed to certain risks to life and limb and even unwarranted criminal and administrative prosecutions in the pursuit of the objectives of Presidential Decree No. 1883;
WHEREAS, there is thus a need to include agents of the Task Force, as well as members of the intelligence and law enforcement agencies within the scope of the reward system promulgated pursuant to Letter of Instructions No. 1356;
WHEREAS, finally, there is also need to provide for the operational expenses of the Task Force;
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 and direct the following:
1.
The reward system shall include the grant of rewards to intelligence
and law enforcement agencies or units, as a group or to authorized
agents of the Presidential Anti-Dollar Salting Task Force created under
Executive Order No. 934 or to agents of intelligence and law
enforcement agencies who, as may be determined and approved by the
Chairman of the Task Force, have made the actual confiscation or
seizure of Philippine currency and other foreign exchange.
2. The amount
which the Chairman of the Task Force shall authorize to be paid as
reward shall not exceed twenty per cent (20%) of the proceeds of the
Philippine currency and/or foreign exchange actually confiscated/seized
turned over to the Central Bank of the Philippines and forfeited in
favor of the Government of the Republic of the Philippines in
accordance with existing laws, rules and regulations.
3. In order to
support and defray expenses for its operations, twenty per cent (20%)
of the Philippine currency and the peso equivalent of twenty per cent
(20%) of the foreign exchange, actually confiscated, seized,
turned-over and forfeited since the creation of the Force and of all
future confiscation shall be released to the Task Force. For this
purpose, this amount shall constitute a Confidential Fund under the
Chairman of the Task Force.
4. Letter of
Instructions No. 1356 and the Rules and Regulations promulgated
thereunder, are hereby modified accordingly and all Executive Orders,
Letters of Instructions, Rules and Regulations or parts thereof, which
are inconsistent with this Letter of Instructions, are hereby amended,
repealed or modified accordingly.
5. The
Chairman of the Task Force shall issue the appropriate Rules and
Regulations and procedures to implement this Letter of Instructions.
6. This Letter
of Instruction shall take effect immediately.
Done in the City of Manila, this 11th day of January, in the year of Our Lord, nineteen hundred and eighty-five.
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