Requiring The Approval Of The Philippine Tourism Authority On Certain Development Projects And Loans Applied For To Finance Their Construction, Etc.
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Requiring The Approval Of The Philippine Tourism Authority On Certain Development Projects And Loans Applied For To Finance Their Construction, Etc.
Presidential Decree No. 381
January 24, 1974
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Presidential Decree No. 381Approval 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)
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Executive Issuances
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tourism development projects
Philippine Tourism Authority
Department of Tourism
approval requirements
financing
loans
financial institutions
rules and regulations
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Presidential Decree No. 189
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Requiring The Approval Of The Philippine Tourism Authority On Certain Development Projects And Loans Applied For To Finance Their Construction, Etc.
Presidential Decree No. 381
•January 24, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 381 January 24, 1974
REQUIRING THE APPROVAL OF THE PHILIPPINE TOURISM AUTHORITY ON CERTAIN DEVELOPMENT PROJECTS AND LOANS APPLIED FOR TO FINANCE THEIR CONSTRUCTION, ETC.
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 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, do hereby order and decree:
Section 1. Any provisions of existing rules to the contrary notwithstanding, no development project for tourism purposes shall be undertaken by any person without the prior approval of the Philippine Tourism Authority, in accordance with the policies and guidelines prescribed by the Department of Tourism.
Section 2. No loan or loans shall be extended by any financial institution to any person to finance the establishment, construction, rehabilitation, management and/or operation of any development project for tourism purposes the prior approval of the Philippine Tourism Authority, in accordance...
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