Further Amending Presidential Decree No. 232 As Amended
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Further Amending Presidential Decree No. 232 As Amended
Presidential Decree No. 414
April 18, 1974
Case Overview and Summary
Summary of Presidential Decree No. 414Amendments to Presidential Decree No. 232
- Section 2(d): Authorizes the Philippine Coconut Authority to "formulate and implement a price stabilization scheme for coconut products and coconut-based consumer goods." (Section 1)
- Section 3(j): Authorizes the Authority to "determine the base price of the raw materials, on which to set the subsidy." (Section 2)
- Section 3(k): Authorizes the Authority to "review and revise when necessary the amount of the levy imposed; Provided, that when the price of copra equals the authorized base price, the collection of the levy shall be suspended automatically." (Section 2)
- Section 3(l): Authorizes the Authority to "establish a monitoring system to ascertain that a steady and adequate supply of the subsidized products is distributed at socialized prices; and to issue subpoena and subpoena duces tecum whenever required for effective monitoring and investigation as to compliance with its promulgations." (Section 2)
- Section 3(m): Authorizes the Authority to "recommend to the President of the Philippines the lifting, suspension or termination of the collection of the Fund, and the refund of such amounts of premium duty paid from February 17, 1974." (Section 2)
- Section 3(n): Authorizes the Authority to "enter into, make and execute contracts of any kind as may be necessary or incidental to the attainment of its purposes and, generally, to exercise all the powers necessary to achieve the purpose and objectives for which it is organized." (Section 2)
Coconut Consumers Stabilization Fund
- Section 3-A: Establishes the Coconut Consumers Stabilization Fund and authorizes the Authority to "impose a levy on every first sale in accordance with the mechanics established under R.A. 6260." (Section 3)
- The Fund may be utilized for:
1. "To provide a subsidy for coconut-based products, depending on the prices set by the Price Control Council." (Section 3-A)
2. "To refund wholly or in part any premium export duty collected. The Board shall take into account the degree of processing of the coconut product exported in refunding the premium export duty." (Section 3-A)
3. "To set aside funds for investment in processing plants, research and development, and extension services to the coconut industry." (Section 3-A)
Board Composition
- Section 4: Adds "one representative each from the Department of Finance and the Board of Investments" to the Board of the Philippine Coconut Authority. (Section 4)
Repealing Clause
- Section 5: Repeals or amends all laws, executive and administrative orders, rules and regulations inconsistent with the provisions of this Decree. (Section 5)
Effectivity
- Section 6: This Decree shall take effect immediately. (Section 6)
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price stabilization
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subsidy
levy
premium export duty
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Philippine Coconut Authority
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Further Amending Presidential Decree No. 232 As Amended
Presidential Decree No. 414
•April 18, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 414 April 18, 1974
FURTHER AMENDING PRESIDENTIAL DECREE NO. 232 AS AMENDED
WHEREAS, a Coconut Consumers Stabilization Fund was established because of the abnormal situation in the world market for fats and oils and is now administered by a Coconut Consumers Stabilization Committee created pursuant to Presidential Decree No. 276;
WHEREAS, the creation of a Committee to administer the Fund was at that time necessary because the Philippine Coconut Authority was not yet as then formally organized;
WHEREAS, the viability, development programs and exigencies of the coconut and other palm oil industry, require the integration and assimilation of all facets of the program in the Philippine Coconut Authority to avoid proliferation of agencies and overlapping of functions, as originally envisioned when Presidential Decree No. 232 was proclaimed;
WHEREAS, there is a need to maintain domestic prices of coconut-based consumer products at reasonable levels without eliminating the benefits of high export earnings and unduly reducing farmers' incomes; and to redirect inflationary excess profits into developmental investments by...
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