Amends
n/a
Amended by
n/a
Executive Orders

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

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...

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)

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

Mobile No. +639451244898
digestph@gmail.com
Please read our FAQ before contacting us.