Law Summary
I. Introduction
- Legal Context: This decree amends the Revised Charter of the National Development Company (NDC) in response to the economic crisis in the Philippines, emphasizing the government's focus on promoting agri-business.
- Purpose: To clarify legal ambiguities regarding the acquisition and utilization of lands under the Public Land Act by government institutions such as the NDC.
II. Legislative Authority
- Enabling Authority: Issued by Ferdinand E. Marcos, President of the Philippines, under constitutional powers.
- Immediate Effect: The decree takes effect immediately upon promulgation.
III. Amendment to the National Development Company's Charter
- New Provision: A new paragraph designated as "(2-A)" is added to Section 4 of Presidential Decree No. 1648.
- Key Provision Details:
- Acquisition of Lands: This provision permits the NDC to acquire and hold lands originally obtained under the Public Land Act, notwithstanding previous restrictions.
- Development and Transfer of Lands: The NDC is authorized to directly develop these lands or contribute them as equity to joint venture corporations it organizes or participates in.
IV. Key Definitions
- Joint Venture Corporations: Corporations that the NDC may organize or participate in, empowered to acquire and own lands obtained by the NDC.
V. Important Requirements and Procedures
- Acquisition and Holding: The NDC can acquire lands despite restrictions in:
- Section 29
- Sections 118 to 124 of the Public Land Act
- Development Options: The NDC has the discretion to develop lands or engage in equity contributions to joint ventures.
VI. Cross-References
- Related Legislation: The provisions referenced are found in the Public Land Act (Commonwealth Act No. 141).
VII. Key Takeaways
- The decree enables the National Development Company to effectively engage in land acquisition and development, crucial for advancing agri-business initiatives during the economic crisis.
- It removes previous legal uncertainties regarding the NDC's ability to acquire public lands, thus facilitating government policy implementation in this sector.
- The immediate effect of the decree allows for swift action in addressing the economic challenges faced by the country.