Question & AnswerQ&A (PRESIDENTIAL DECREE NO. 247)
The main purpose of Presidential Decree No. 247 is to prohibit and penalize the defacement, mutilation, tearing, burning, or destruction of Central Bank notes and coins in the Philippines.
The notes and coins issued by the Central Bank are fully guaranteed by the Government of the Republic of the Philippines and are legal tender for all debts, both public and private, within the country.
Defacing, mutilating, tearing, burning, or destroying currency renders it unfit for circulation, shortens its lifetime, disrespects the currency’s dignity, and reflects poorly on the discipline and image of the Filipino people and country.
The decree prohibits willfully defacing, mutilating, tearing, burning, or destroying in any manner whatsoever the currency notes and coins issued by the Central Bank of the Philippines.
Upon conviction, a person who violates the decree may be punished with a fine not exceeding twenty thousand pesos and/or imprisonment of up to five years.
Yes, all laws, orders, and regulations or parts thereof that are inconsistent with this decree are modified or repealed accordingly.
The decree took effect immediately after its publication in a newspaper of general circulation.
President Ferdinand E. Marcos promulgated the decree by virtue of his powers as Commander-in-Chief of all Armed Forces of the Philippines and pursuant to relevant proclamations and general orders.