Providing For The Repeal Of Republic Act Numbered Four Hundred Twenty-Seven, Entitled "An Act Prohibiting And Punishing The Possession And Exportation Of Silver And/Or Nickel Coins Under Ce
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Providing For The Repeal Of Republic Act Numbered Four Hundred Twenty-Seven, Entitled "An Act Prohibiting And Punishing The Possession And Exportation Of Silver And/Or Nickel Coins Under Ce
Presidential Decree No. 118
January 29, 1973
Case Overview and Summary
Summary of Presidential Decree No. 118Repeal of Republic Act No. 427
- Republic Act No. 427, "An Act Prohibiting and Punishing the Possession and Exportation of Silver and/or Nickel Coins Under Certain Circumstances and Providing the Procedure for Prosecution Thereof", is repealed. (Entire Decree)
- The present fiduciary coinage system of the country allows the replenishment of the coin supply quite easily and economically, assuring a constant and adequate supply of small change, making Republic Act No. 427 unnecessary. (Whereas Clause)
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Executive Issuances
Presidential Decrees
repeal
Republic Act No. 427
possession
exportation
silver coins
nickel coins
fiduciary coinage system
coin supply
small change
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Providing For The Repeal Of Republic Act Numbered Four Hundred Twenty-Seven, Entitled "An Act Prohibiting And Punishing The Possession And Exportation Of Silver And/Or Nickel Coins Under Ce
Presidential Decree No. 118
•January 29, 1973
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 118 January 29, 1973
PROVIDING FOR THE REPEAL OF REPUBLIC ACT NUMBERED FOUR HUNDRED TWENTY-SEVEN, ENTITLED "AN ACT PROHIBITING AND PUNISHING THE POSSESSION AND EXPORTATION OF SILVER AND/OR NICKEL COINS UNDER CERTAIN CIRCUMSTANCES AND PROVIDING THE PROCEDURE FOR PROSECUTION THEREOF"
WHEREAS, Republic Act No. 427, "An Act Prohibiting and Punishing the Possession and Exportation of Silver and/or Nickel Coins Under Certain Circumstances and Providing the Procedure for Prosecution Thereof", was enacted in 1950 to forestall a threatened coin shortage;
WHEREAS, the present fiduciary coinage system of the country allows the replenishment of the coin supply quite easily and economically thus assuring a constant and adequate supply or small change;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, 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...
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