Amending Subsection "C" And "F" Of Section Three Hundred Two Of Presidential Decree Numbered Fourteen Hundred Sixty-Four Otherwise Known As The Tariff And Customs Code Of 1978, As Amended
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Amending Subsection "C" And "F" Of Section Three Hundred Two Of Presidential Decree Numbered Fourteen Hundred Sixty-Four Otherwise Known As The Tariff And Customs Code Of 1978, As Amended
Executive Order No. 66
November 21, 1986
Case Overview and Summary
Amending Subsection "c" and "f" of Section 302 of Presidential Decree No. 1464 (Tariff and Customs Code of 1978)- Countervailing Duty Provisions:
• Pending investigation and final decision, the article in question shall not be released from customs custody unless a bond equal to the ascertained or estimated amount of bounty, subsidy or subvention is filed, as provisionally determined by the Minister of Finance. (Sec. 302c)
• Any countervailing decision promulgated by the Minister shall be effective for 5 years from promulgation, unless an interested party requests continuation before expiration, in which case the Minister shall advise the Commission to investigate if conditions still exist. (Sec. 302f)
• The action for extension must be brought before the Minister at least 6 months before expiration of the 5-year period. (Sec. 302f)
• The Commission's findings must be submitted to the Minister at least 3 months before expiration of the 5-year period. (Sec. 302f)
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countervailing duty
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bounty
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Amending Subsection "C" And "F" Of Section Three Hundred Two Of Presidential Decree Numbered Fourteen Hundred Sixty-Four Otherwise Known As The Tariff And Customs Code Of 1978, As Amended
Executive Order No. 66
•November 21, 1986
EXECUTIVE ORDER NO. 66 November 21, 1986
AMENDING SUBSECTION "c" AND "f" OF SECTION THREE HUNDRED TWO OF PRESIDENTIAL DECREE NUMBERED FOURTEEN HUNDRED SIXTY-FOUR OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED
WHEREAS, Presidential Decree No. 1973 was promulgated to align Philippine national legislation, regulations and administrative procedures on countervailing investigations with the provision of the General Agreement of Tariffs and Trade (GATT) Code on subsidies and countervailing duties;
WHEREAS, pursuant to such alignment, there is a need to amend the present provision of the Tariff and Customs Code concerning the amount of countervailing bond, as a provisional remedy;
WHEREAS, the present provision on the effectivity period of a countervailing decision is not clear and has caused some confusions;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do hereby order:
Sec. 1. Subsections "c" and "f" of Section 302 of Presidential Decree No. 1464, as amended, are hereby amended to read as follows:
"Sec. 302. Countervailing Duty
c. Pending investigation and final decision of the case, the article in...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
countervailing duty
customs
tariff
subsidy
bounty
subvention
bond
investigation
decision
expiration
extension
commission
minister of finance
EXECUTIVE ORDER NO. 66 November 21, 1986
AMENDING SUBSECTION "c" AND "f" OF SECTION THREE HUNDRED TWO OF PRESIDENTIAL DECREE NUMBERED FOURTEEN HUNDRED SIXTY-FOUR OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED
WHEREAS, Presidential Decree No. 1973 was promulgated to align Philippine national legislation, regulations and administrative procedures on countervailing investigations with the provision of the General Agreement of Tariffs and Trade (GATT) Code on subsidies and countervailing duties;
WHEREAS, pursuant to such alignment, there is a need to amend the present provision of the Tariff and Customs Code concerning the amount of countervailing bond, as a provisional remedy;
WHEREAS, the present provision on the effectivity period of a countervailing decision is not clear and has caused some confusions;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do hereby order:
Sec. 1. Subsections "c" and "f" of Section 302 of Presidential Decree No. 1464, as amended, are hereby amended to read as follows:
"Sec. 302. Countervailing Duty
c. Pending investigation and final decision of the case, the article in...
Login to see full content