Transferring The Assets And Liabilities As Well As Certain Power Of The Agrarian Reform Fund Commission To The Land Bank Of The Philippines
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Transferring The Assets And Liabilities As Well As Certain Power Of The Agrarian Reform Fund Commission To The Land Bank Of The Philippines
Presidential Decree No. 462
May 17, 1974
Case Overview and Summary
Transfer of Assets, Liabilities and Powers of Agrarian Reform Fund Commission to Land Bank of the Philippines- Presidential Decree No. 85 established the Agrarian Reform Fund Commission to mobilize resources for agrarian reform funding requirements under Presidential Decree No. 27. (Section 1)
- Presidential Decree No. 251 revitalized the Land Bank of the Philippines by granting additional powers and increased capitalization to implement the agrarian reform program. (Section 2)
- While Presidential Decree No. 251 intended to consolidate agrarian reform financing functions in the Land Bank, the resource gathering function remained with the Agrarian Reform Fund Commission. (Section 3)
- This Decree transfers the assets, liabilities, rights, and obligations of the Agrarian Reform Fund Commission, including the power to draw and acquire resources from government financial institutions and other sources as stated in Section 1 of Presidential Decree No. 85, to the Land Bank of the Philippines. (Section 4)
- Presidential Decree No. 85 is repealed, and all other inconsistent laws, executive orders, rules, and regulations are repealed or modified accordingly. (Section 5)
- This Decree takes effect upon approval. (Section 6)
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Executive Issuances
Presidential Decrees
Agrarian Reform Fund Commission
Land Bank of the Philippines
Presidential Decree No. 85
Presidential Decree No. 27
Presidential Decree No. 251
Agrarian reform
Financing
Resources
Assets
Liabilities
Government financial institutions
Repeal
Modification
Law
Transferring The Assets And Liabilities As Well As Certain Power Of The Agrarian Reform Fund Commission To The Land Bank Of The Philippines
Presidential Decree No. 462
•May 17, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 462 May 17, 1974
TRANSFERRING THE ASSETS AND LIABILITIES AS WELL AS CERTAIN POWER OF THE AGRARIAN REFORM FUND COMMISSION TO THE LAND BANK OF THE PHILIPPINES
WHEREAS, under Presidential Decree No. 85 dated December 24, 1972, an Agrarian Reform Fund Commission has been established to mobilize and harness properly all available government resources for the massive funding requirements of agrarian reform as envisioned in Presidential Decree No. 27;
WHEREAS, under Presidential Decree No. 251 dated July 21, 1973, the Land Bank of the Philippines has been revitalized by the grant of additional powers, and increased capitalization to cope with the implementation requirements of the agrarian reform program;
WHEREAS, while Presidential Decree No. 251 intended to consolidate in the Land Bank of the Philippines all functions related to the financing aspects of agrarian reform program by transferring certain functions of the Agrarian Reform Fund Commission to the Land Bank of the Philippines, the function of gathering resources was left with the Agrarian Reform Fund Commission;
NOW,...
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