Digest.ph

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 1830

FURTHER AMENDING SECTIONS THREE AND FIFTEEN OF REPUBLIC ACT NO. 85, AS AMENDED, OTHERWISE KNOWN AS THE DBP CHARTER

WHEREAS, the Development Bank of the Philippines is the Government agency entrusted with the task of providing credit facilities for the rehabilitation development and expansion of the country's agriculture and industry and the broadening and diversification of the national economy; and

WHEREAS, there is a need to amend the Charter of the DBP to increase its authorized capital stock and expand the powers of its governing board to make it more responsive to the demands of present circumstances;

NOW, THEREFORE, I, FERDINAND E, MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following:

Section 1. Section three of Republic Act No. 85, as amended, is hereby amended to read as follows:

"Sec. 3. Capital Stock. The capital stock of the Bank shall be TEN...

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