Scope and Effectivity
- The decree takes effect immediately upon its promulgation.
Legal Authority and Purpose
- Issued by President Ferdinand E. Marcos under the powers vested by the Constitution.
- The amendment aims to make minor corrections and effectuate needed changes in existing law, specifically ensuring the government's backing of bond payments.
Key Legal Concept: Government Guarantee
- The law explicitly affirms the State's guarantee as to bond payments which enhances investor confidence.
- Appropriation from the National Treasury for guaranteed bond payments underscores the priority and validity of such financial obligations.
Procedural Aspect
- The amendment required no further legislative action and was implemented directly by presidential decree.
- The guarantee and appropriation are automatic and legally binding once the Corporation issues the bonds whose payments are guaranteed.