Requiring The Approval Of The Philippine Tourism Authority On Certain Development Projects And Loans Applied For To Finance Their Construction, Etc.

Case Overview and Summary

Presidential Decree No. 381

Approval Requirements for Tourism Development Projects and Financing

- No person shall undertake any tourism development project without prior approval from the Philippine Tourism Authority, in accordance with policies and guidelines prescribed by the Department of Tourism. (Section 1)
- No financial institution shall extend loans to any person for establishing, constructing, rehabilitating, managing, or operating any tourism development project without prior approval from the Philippine Tourism Authority, in accordance with policies and guidelines prescribed by the Department of Tourism. (Section 2)
- The Philippine Tourism Authority Board shall promulgate necessary rules and regulations, following policies and guidelines prescribed by the Secretary of Tourism, to effectively implement and carry out the purpose, spirit, and objective of this decree. (Section 3)
- Any person violating or causing another to violate any provision of this decree or the rules and regulations promulgated by the Philippine Tourism Authority shall suffer penalties provided under Section 4-B of Presidential Decree No. 189, as amended. (Section 4)
- This decree shall take effect immediately. (Section 5)