Allowing Citizens Of The Philippines Or Corporations Or Associations At Least Sixty Per Centum Of The Capital Of Which Is Owed By Such Citizens To Enter Into Service Contracts With Foreign
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Allowing Citizens Of The Philippines Or Corporations Or Associations At Least Sixty Per Centum Of The Capital Of Which Is Owed By Such Citizens To Enter Into Service Contracts With Foreign
Presidential Decree No. 151
March 13, 1973
Case Overview and Summary
Summary of Presidential Decree No. 151Allowing Citizens or Corporations to Enter into Service Contracts with Foreign Entities
- Citizens of the Philippines or corporations/associations with at least 60% Filipino ownership are allowed to enter into service contracts with foreign persons or entities for the following purposes: (Section 1)
- Financial, technical, management or other forms of assistance
- For exploration, development, exploitation or utilization of lands of the public domain owned, held or controlled by such citizens or corporations
Conditions for Service Contracts to be Considered Vital to National Interest (Section 2)
- Consistent with national security requirements
- Exploration, exploitation or utilization of land is necessary for:
- Agricultural, industrial and commercial development projects
- Development of export-oriented industries, import substitution and other dollar-saving industries
- Cottage industries, cooperative development, land reform, research projects
- Other activities certified by the President upon recommendation of the National Economic Development Authority as vital to national interest
Approval and Regulations (Section 3)
- Service contracts require prior approval of the Secretary of Agriculture and Natural Resources
- The Secretary shall promulgate necessary rules and regulations to carry out this Decree
Existing Service Contracts (Section 4)
- Service contracts valid and existing as of January 17, 1973, shall be recognized and remain in full force and effect unless modified by the parties
Amendments and Repeals (Section 5)
- Any provision of existing law, rule, regulation or order that is contrary to or inconsistent with this Decree is hereby amended or repealed
Effectivity (Section 6)
- This Decree takes effect immediately
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Allowing Citizens Of The Philippines Or Corporations Or Associations At Least Sixty Per Centum Of The Capital Of Which Is Owed By Such Citizens To Enter Into Service Contracts With Foreign
Presidential Decree No. 151
•March 13, 1973
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 151 March 13, 1973
ALLOWING CITIZENS OF THE PHILIPPINES OR CORPORATIONS OR ASSOCIATIONS AT LEAST SIXTY PER CENTUM OF THE CAPITAL OF WHICH IS OWED BY SUCH CITIZENS TO ENTER INTO SERVICE CONTRACTS WITH FOREIGN PERSONS, CORPORATIONS FOR THE EXPLORATION, DEVELOPMENT, EXPLOITATION OR UTILIZATION OF LANDS OF THE PUBLIC DOMAIN, AMENDING FOR THE PURPOSE CERTAIN PROVISIONS OF COMMONWEALTH ACT NO. 141
WHEREAS, the general policy of the State is to limit the disposition, exploration, development, exploitation or utilization of lands of the public domain in the Philippines to citizens of the Philippines or to corporations or associations at least sixty per centum of the capital of which is owned by such citizens;
WHEREAS, the national interest demands that such citizens, corporations or associations be allowed to enter into service contracts for financial, technical, management or other forms of assistance with any foreign person or entity for the exploration, development, exploitation or utilization of such lands of the public domain.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
service contracts
foreign entities
public domain lands
exploration
development
exploitation
utilization
financial assistance
technical assistance
management assistance
national interest
national security
export-oriented industries
import substitution
dollar-saving industries
cottage industries
cooperative development
land reform
research projects
approval
regulations
Secretary of Agriculture and Natural Resources
existing contracts
amendments
repeals
effectivity
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 151 March 13, 1973
ALLOWING CITIZENS OF THE PHILIPPINES OR CORPORATIONS OR ASSOCIATIONS AT LEAST SIXTY PER CENTUM OF THE CAPITAL OF WHICH IS OWED BY SUCH CITIZENS TO ENTER INTO SERVICE CONTRACTS WITH FOREIGN PERSONS, CORPORATIONS FOR THE EXPLORATION, DEVELOPMENT, EXPLOITATION OR UTILIZATION OF LANDS OF THE PUBLIC DOMAIN, AMENDING FOR THE PURPOSE CERTAIN PROVISIONS OF COMMONWEALTH ACT NO. 141
WHEREAS, the general policy of the State is to limit the disposition, exploration, development, exploitation or utilization of lands of the public domain in the Philippines to citizens of the Philippines or to corporations or associations at least sixty per centum of the capital of which is owned by such citizens;
WHEREAS, the national interest demands that such citizens, corporations or associations be allowed to enter into service contracts for financial, technical, management or other forms of assistance with any foreign person or entity for the exploration, development, exploitation or utilization of such lands of the public domain.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President...
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