Amending The Revised Charter Of The Philippine Aerospace Development Corporation Or P.D. No. 696
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Amending The Revised Charter Of The Philippine Aerospace Development Corporation Or P.D. No. 696
Presidential Decree No. 841
December 11, 1975
Case Overview and Summary
Amending the Revised Charter of the Philippine Aerospace Development Corporation or Presidential Decree No. 696Board of Directors
- The Corporation shall be governed and managed by a Board of Directors composed of:
• Ex-officio members:
• Secretary of Public Works, Transportation and Communications (Section 6)
• Secretary of Industry (Section 6)
• Secretary of National Defense (Section 6)
• Chairman, Board of Governors of the Development Bank of the Philippines (Section 6)
• General Manager of the Government Service Insurance System (Section 6)
• Any official exercising voting powers in accordance with Section 4, paragraph g, provided that the number of shares owned or subscribed by the institution represented by such official constitutes at least 9% of the total subscribed capital stock of the Corporation (Section 6)
• Three (3) other members appointed by the President of the Philippines:
• First appointive director shall serve for a term of 1 year (Section 6)
• Second appointive director shall serve for a term of 2 years (Section 6)
• Third appointive director shall serve for a term of 3 years (Section 6)
• After the initial terms, their successors shall serve for a term of 2 years (Section 6)
• All members of the Board, whether appointed or ex-officio, shall enjoy the same powers, rights, and privileges as established by the Board for the conduct of its affairs (Section 6)
• The President of the Philippines shall appoint a Chairman from among the directors (Section 6)
This Decree shall take effect immediately (Section 6)
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Amending The Revised Charter Of The Philippine Aerospace Development Corporation Or P.D. No. 696
Presidential Decree No. 841
•December 11, 1975
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 841 December 11, 1975
AMENDING THE REVISED CHARTER OF THE PHILIPPINE AEROSPACE DEVELOPMENT CORPORATION OR PRESIDENTIAL DECREE NO. 696
WHEREAS, the structural reorganization instituted in the Office of the President of the Philippines has affected the composition of the ex-officio members of the Board of Directors of the Philippine Aerospace Development Corporation;
WHEREAS, in view thereof, the charter provisions on the Board of Directors of the Corporation requires appropriate amendment;
NOW, THEREFORE, I, FERDINAND E. MARCOS, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, and in order to effect the desired changes and reforms in the social and economic structure of our Society, do hereby order and decree that the provisions of Section 6 of Presidential Decree No. 696 be amended to read as follows:
"Sec. 6. Board of Directors. The Corporation...
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