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PRESIDENTIAL DECREE NO. 5
PRESIDENTIAL DECREE NO. 5 -
AMENDING REPUBLIC ACT NUMBERED 1300, ENTITLED AN ACT REVISING THE
CHARTER OF THE PHILIPPINE NATIONAL BANK
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WHEREAS, there were pending before Congress
prior to the promulgation of Proclamation No. 1081, dated September 21,
1972, certain priority measures vital to the national development
program of the Government, and which were duly certified by the
President as urgent measures;chanroblesvirtualawlibrary
WHEREAS, one of these priority measures is the bill seeking to amend
the charter of the Philippine National Bank by increasing its
authorized capital stock and by providing limits to government
borrowings an adequate guidelines for its efficient operation; chanroblesvirtualawlibrary
WHEREAS, this measure is necessary to effect reforms in the bank's
operations and to revitalize its structure as an important instrument
to promote the national development program of the Government;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, Commander-in-Chief of all the
Armed Forces of the Philippines, pursuant to Proclamation No. 1081,
dated September 21, 1972, and General Order No. 1, dated September 22,
1972, as amended, and in order to effect desired changes and reforms in
the social, economic and political structures of our society, do hereby
decree that House Bill No. 2403, entitled "Amending Republic Act
Numbered 1300, entitled "An Act Revising the Charter of the Philippine
National Bank" and its entire text shall be adopted and approved as
they are hereby adopted and approved, and made part of the law of the
land.
This decree shall take effect immediately; provided that amendments,
changes and modifications may be made by me and the same shall take
effect after my announcement thereof or by my duly designated
representative.
Done in the City of Manila,
this 26th day of September, in the year of Our Lord, nineteen hundred
and seventy-two.
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