Amending P.D. Numbered Four Hundred Eighty-Four And For Other Purposes
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Amending P.D. Numbered Four Hundred Eighty-Four And For Other Purposes
Presidential Decree No. 783
August 27, 1975
Case Overview and Summary
Summary of Presidential Decree No. 783Establishment and Operation of Security Printing Plant, Gold Refinery, and Mint
- The Central Bank of the Philippines is authorized to:
- Operate a Security Printing Plant for printing banknotes and other security printing work (Section 1)
- Establish and operate a Gold Refinery suitable for the country's needs (Section 1)
- Establish and operate a Mint (Section 1)
Exemptions and Privileges
- The Central Bank is exempt from all forms of taxation, duties, and other imposts on imported machineries, equipment, raw materials, and supplies for the Security Printing Plant, Gold Refinery, and Mint (Section 1-A)
- The Central Bank is exempt from public bidding requirements and other related requirements for construction, procurement of machineries, equipment, raw materials, and services for these projects (Section 1-C)
- Appointments to positions determined as highly technical or primarily confidential in these projects are exempt from the Civil Service Law, rules, and regulations (Section 1-D)
Security Printing Work for Other Government Entities
- The Central Bank can undertake security printing work for other government offices, agencies, instrumentalities, and government-owned or controlled corporations at cost with a minimal margin for administration and operational expenses (Section 1-B)
- Original designs, engravings, and other printing materials involved in security printing shall be kept in a secured vault under joint custody of the Chairman of the Commission on Audit and the Governor of the Central Bank (Section 1-B)
Export Possibilities and Income Distribution
- After commencement of production, the Central Bank shall study the possibilities of exporting services and products of the Security Printing Plant, Gold Refinery, and Mint (Section 1-E)
- Any income or net losses from the operations of these projects shall be distributed in accordance with Sections 41 and 42 of Republic Act No. 265, as amended (Section 1-F)
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Executive Issuances
Presidential Decrees
Central Bank of the Philippines
Security Printing Plant
Gold Refinery
Mint
Banknotes
Security Printing
Tax Exemptions
Duty Exemptions
Public Bidding Exemptions
Civil Service Exemptions
Government Printing
Export Possibilities
Income Distribution
Law
Amending P.D. Numbered Four Hundred Eighty-Four And For Other Purposes
Presidential Decree No. 783
•August 27, 1975
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 783 August 27, 1975
AMENDING PRESIDENTIAL DECREE NUMBERED FOUR HUNDRED EIGHTY-FOUR AND FOR OTHER PURPOSES
WHEREAS, in conformity with its statutory responsibility and authority over the currency issue of the country and in conjunction with its other functions and objectives, the Monetary Board of the Central Bank of the Philippines authorized the establishment of a Mint, equipped to strike coins from imported blanks; the Central Bank under Letter of Instructions No. 171 date February 27, 1974 was likewise directed to take all necessary steps for the establishment of a Gold Refinery, suitable in design and capacity for the needs of the country, as soon as practicable; and, finally, the Central Bank under Presidential Decree No. 484 dated June 18, 1974 was authorized to operate a Security Printing Plant for the printing of banknotes, as well as to undertake such other security printing work as the facilities of the Plant would permit;
WHEREAS, pursuant to Section 131 of Republic Act No. 265, as amended, the importation by...
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