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PRESIDENTIAL DECREE NO. 527
PRESIDENTIAL DECREE NO. 527
- GRANTING AUTHORITY TO THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY
TO SET MINIMUM PRICES OF COCONUT OIL, COPRA AND OTHER COCONUT PRODUCTS
AND BY PRODUCTS
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WHEREAS,
the economic well-being of a major part of the population depends to a
large extent on the viability of the coconut industry and its
improvement in the area of production and marketing;chanroblesvirtualawlibrary
WHEREAS, to protect coconut farmers, there is a need to regulate and/or
fix the minimum prices at which copra and other coconut products and
by-products may be purchased from coconut farmers, as well as minimum
export prices for copra, coconut oil and other coconut products and
by-products.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, do hereby
order and decree as follows:cralaw:red
Section 1. That the National Economic and Development
Authority, motu proprio or upon recommendation of the Philippine
Coconut Authority, may fix the minimum prices that may be paid to
coconut farmers for copra and other coconut products, as well as
minimum export prices for copra, coconut oil and other coconut products
and by-products whenever the national interest so requires taking into
consideration cost of production, transportation, marketing and other
relevant factors.
Section 2. That the National Economic and Development
Authority is hereby authorized to prohibit the export from the
Philippines of copra, coconut oil and other coconut products and
by-products at prices below the minimum export prices that may be fixed
in accordance with the provision of the preceding section.
Section 3. That Government agencies and
instrumentalities, including the Central Bank of the Philippines, the
Philippine Coconut Authority and the Bureau of Customs shall not issue
export licenses and permits for the export of copra, coconut oil and
other coconut products and by-products at prices below the minimum
export prices that may be fixed by the National Economic and
Development Authority pursuant to the authority granted in Section 1
hereof. chanroblesvirtualawlibrary
Section 4. That the National Economic and Development
Authority is hereby authorized to issue rules and regulations necessary
to implement the provisions of this Decree.
Section 5. That any person who shall violate the
provisions of this Decree and any rule or regulation that may be issued
by the National Economic and Development Authority pursuant to the
authority granted in the preceding section shall, upon conviction, be
punished by a fine of not more than twenty thousand pesos (P20,000.00)
and/or by imprisonment of not more than five years: Provided, That in
the case of corporations, partnerships, associations or companies the
President, Manager or Administrator or the person who has charge of the
administration of the business shall be criminally responsible for any
violation of this Decree or of the rules and regulations that may be
promulgated by the National Economic and Development Authority pursuant
to the authority in the next preceding section.
Section 6. Any provision of law in conflict herewith
is revoked or amended accordingly.
Section 7. This Decree shall take effect immediately.
Done in the City of Manila,
this 2nd day of August, in the year of Our Lord, nineteen hundred and
seventy-four.
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