Further Amending Certain Sections Of Republic Act Numbered Sixty-Three Hundred Ninety-Five Entitled, "An Act Revising The Charter Of The National Power Corporation", As Amended By President
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Further Amending Certain Sections Of Republic Act Numbered Sixty-Three Hundred Ninety-Five Entitled, "An Act Revising The Charter Of The National Power Corporation", As Amended By President
Presidential Decree No. 938
May 27, 1976
Case Overview and Summary
Summary of Presidential Decree No. 938Amendments to the National Power Corporation (NPC) Charter:
- Allows NPC to acquire, hold, transfer, sell, lease, mortgage, and dispose of property necessary for its purposes. (Section 1)
- Grants NPC the right-of-way to construct and maintain works over public and private lands, subject to just compensation for private property. (Section 2)
- Allows NPC to exercise eminent domain for expropriation proceedings as provided by law. (Section 3)
- Defines just compensation for expropriated land and right-of-way easements:
- For acquired land, not exceeding the lower of the owner's declared market value or the assessor's market value. (Section 4a)
- For acquired right-of-way easement, not exceeding 10% of the lower of the owner's declared market value or the assessor's market value. (Section 4b)
- Compensation for damaged improvements, not exceeding the lower of the owner's declared market value or the assessor's market value. (Section 4)
- Market value is based on the time NPC notifies the landowner of the need for the property. (Section 4)
- Increases NPC's authorized capital stock to ₱8 billion, with ₱7.7 billion to be subscribed by the government. (Section 5)
- Allows NPC to reorganize its management structure to meet expansion requirements, subject to the President's approval. (Section 6)
- Increases NPC's domestic borrowing limit to ₱12 billion. (Section 7)
- Increases NPC's foreign borrowing limit to $4 billion or equivalent, and allows the President to waive certain bidding restrictions for foreign loans. (Section 8)
- Allows NPC to award contracts based on ceilings and rules set by the Board, subject to existing Executive Orders. (Section 9)
- Declares NPC as non-profit and exempt from all taxes, duties, fees, and charges by the government and its instrumentalities. (Section 10)
Amends
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Executive Issuances
Presidential Decrees
National Power Corporation
capitalization
borrowing limits
right-of-way acquisition
just compensation
tax exemptions
contract award ceilings
organizational restructuring
eminent domain
expropriation
transmission lines
easement rights
market value
capital stock
foreign loans
international bidding
non-profit character
tax exemptions
Law
Further Amending Certain Sections Of Republic Act Numbered Sixty-Three Hundred Ninety-Five Entitled, "An Act Revising The Charter Of The National Power Corporation", As Amended By President
Presidential Decree No. 938
•May 27, 1976
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 938 May 27, 1976
FURTHER AMENDING CERTAIN SECTIONS OF REPUBLIC ACT NUMBERED SIXTY-THREE HUNDRED NINETY-FIVE ENTITLED, "AN ACT REVISING THE CHARTER OF THE NATIONAL POWER CORPORATION", AS AMENDED BY PRESIDENTIAL DECREES NOS. 380, 395 AND 758
WHEREAS, in view of the accelerated expansion program for generation and transmission facilities which includes nuclear power generation, the present capitalization of National Power Corporation (NPC) and the ceilings for domestic and foreign borrowings are deemed insufficient;
WHEREAS, in the implementation of the power expansion program, NPC is encountering difficulties in the acquisition of land and land rights which unnecessarily stall and delay the prosecution of the works to the prejudice of the projects;
WHEREAS, corollary to such right-of-way problems, a definitive declaration of the just compensation for the land and land rights acquired by NPC for its projects should be affected;
WHEREAS, in the application of the tax exemption provisions of the Revised Charter, the non-profit character of NPC has not been fully utilized because of restrictive interpretation of...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
National Power Corporation
capitalization
borrowing limits
right-of-way acquisition
just compensation
tax exemptions
contract award ceilings
organizational restructuring
eminent domain
expropriation
transmission lines
easement rights
market value
capital stock
foreign loans
international bidding
non-profit character
tax exemptions
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 938 May 27, 1976
FURTHER AMENDING CERTAIN SECTIONS OF REPUBLIC ACT NUMBERED SIXTY-THREE HUNDRED NINETY-FIVE ENTITLED, "AN ACT REVISING THE CHARTER OF THE NATIONAL POWER CORPORATION", AS AMENDED BY PRESIDENTIAL DECREES NOS. 380, 395 AND 758
WHEREAS, in view of the accelerated expansion program for generation and transmission facilities which includes nuclear power generation, the present capitalization of National Power Corporation (NPC) and the ceilings for domestic and foreign borrowings are deemed insufficient;
WHEREAS, in the implementation of the power expansion program, NPC is encountering difficulties in the acquisition of land and land rights which unnecessarily stall and delay the prosecution of the works to the prejudice of the projects;
WHEREAS, corollary to such right-of-way problems, a definitive declaration of the just compensation for the land and land rights acquired by NPC for its projects should be affected;
WHEREAS, in the application of the tax exemption provisions of the Revised Charter, the non-profit character of NPC has not been fully utilized because of restrictive interpretation of...
Login to see full content