Amendment to Section 5 (B) of Republic Act No. 6395 as Amended, By Presidential Decree Nos. 380, 395, 758 and 1360
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Amendment to Section 5 (B) of Republic Act No. 6395 as Amended, By Presidential Decree Nos. 380, 395, 758 and 1360
Presidential Decree No. 1443
June 11, 1978
Case Overview and Summary
Summary of Presidential Decree No. 1443Increasing the Authorized Capital Stock of the National Power Corporation (NPC)
- The authorized capital stock of NPC is increased to P50 billion, divided into 500 million shares with a par value of P100 each. (Section 1)
- The government has already subscribed and paid P300 million of the capital stock. (Section 1)
Payment of the Remaining Subscription by the Government
- P29,267,600 representing outstanding cost and interest of reparation goods procured by NPC shall be paid as additional subscription. (Section 1(a))
- The balance of the subscription shall be paid through: (Section 1(b))
- Conversion of existing bonding indebtedness into equity capital.
- Conversion of cost of reparation goods allocated in the future into equity capital.
- Conversion of NPC surpluses into equity capital.
- Annual appropriations from the National Treasury, including tax collections, loan proceeds, bonds, treasury bills or notes issued for this purpose.
The annual appropriations shall be programmed and released by the Budget Commission based on NPC's schedule of cash requirements, until the unpaid subscription is fully paid.
Amends
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Executive Issuances
Presidential Decrees
National Power Corporation
capital stock
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power expansion program
government subscription
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reparation goods
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Amendment to Section 5 (B) of Republic Act No. 6395 as Amended, By Presidential Decree Nos. 380, 395, 758 and 1360
Presidential Decree No. 1443
•June 11, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1443
AMENDMENT TO SECTION 5 (b) OF REPUBLIC ACT NO. 6395 AS AMENDED, BY PRESIDENTIAL DECREE NOS. 380, 395, 758 AND 1360
WHEREAS, the power expansion program undertaken by the National Power Corporation covering a period of ten (10) years would need effective government support through equity contributions to NPC to sustain said programs;
WHEREAS, the present Revised Charter of National Power Corporation limits the government equity contributions to annual appropriation of P200 Million to pay the balance of the unpaid subscription of the government to the capital stock of the Corporation;
WHEREAS, to insure adequate funds and sustain the Corporation's power development, there is an imperative need to appropriate such additional sums as may be necessary to meet the yearly financial requirements of the power program;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree that
Section 1. Section 5 of the Charter of the National Power Corporation,...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
National Power Corporation
capital stock
equity contributions
power expansion program
government subscription
appropriations
bonds
treasury bills
reparation goods
bonding indebtedness
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1443
AMENDMENT TO SECTION 5 (b) OF REPUBLIC ACT NO. 6395 AS AMENDED, BY PRESIDENTIAL DECREE NOS. 380, 395, 758 AND 1360
WHEREAS, the power expansion program undertaken by the National Power Corporation covering a period of ten (10) years would need effective government support through equity contributions to NPC to sustain said programs;
WHEREAS, the present Revised Charter of National Power Corporation limits the government equity contributions to annual appropriation of P200 Million to pay the balance of the unpaid subscription of the government to the capital stock of the Corporation;
WHEREAS, to insure adequate funds and sustain the Corporation's power development, there is an imperative need to appropriate such additional sums as may be necessary to meet the yearly financial requirements of the power program;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree that
Section 1. Section 5 of the Charter of the National Power Corporation,...
Login to see full content