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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 940 |
WHEREAS,, it is the declared policy of the State to promote the rapid integrated development and growth of the coconut and other palm oils industry in all its aspects and to insure that the coconut farmers become direct participants in, and beneficiaries of, such growth and development;
WHEREAS, to insure the viability, growth and development of the coconut industry for the benefit of the coconut farmers, the export of copra, coconut oil and their by-products through companies owned or controlled by the coconut farmers must be encouraged;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order as follows:
SECTION 1. Classification. — In the imposition and collection of the Coconut Consumers Stabilization Fund (CCSF) levy authorized under P.D. 1468, the Philippine Coconut Authority shall classify the following as a separate class of levy payors:
a)
Companies owned or controlled by the coconut farmers through the
Coconut Industry Investment Fund (CIIF);
b) The private
corporation authorized to be organized under L.O.I. 926; and
c) The
"Participating Mills" contemplated under L.O.I. 926.
Sec. 2. Levy Imposition — To encourage the export of copra, coconut oil and their by-products through the entities specified in Section 1 hereof, the Philippine Coconut Authority may impose on and collect from copra exporters, oil millers, desiccators and other en-users of copra or its equivalent in other products which are not included among any of the entities specified in Section 1 hereof a rate of CCSF levy not more than twice the rate imposed on and collected from levy payors included among the entities specified in Section 1 hereof shall be allocated as part of the CIIF.
Sec. 3. Effectivity — This Letter of Instructions
shall effective immediately.
Done in the City of Manila,
this 4th day of October, in the year of Our Lord, nineteen hundred and
seventy-nine.
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