68 OG No. 40, 7801-24 (October 2, 1972)

[ PRESIDENTIAL DECREE NO. 5[*], September 26, 1972 ]

AMENDING REPUBLIC ACT NUMBERED 1300, ENTITLED AN ACT REVISING THE CHAPTER OF THE PHILIPPINE NATIONAL BANK.

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;

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 and
adequate guidelines for its efficient operation;

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;

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 lo effect desired changes and reforms in the social,
economic and political structures of our society, do hereby decree that House
Bill No. 2493, 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.

	(Sgd.) FERDINAND E. MARCOSPresident Republic of the Philippines
	By the President:
	(Sgd.) ROBERTO V. REYES
		Acting Executive Secretary

^[*] Amended by Presidential Decree No.
64.

Source: Supreme Court E-Library