Declaration of Policy
- The mutiny and rebellion aimed to seize state power and supplant the government with a military regime.
- Resulted in loss of lives, property destruction, and economic setbacks.
- Necessitates granting emergency powers to the President to aid economic reconstruction while being subject to limitations.
Authorized Powers of the President
- Protection against hoarding, profiteering, price manipulation, product deception, and malicious trade practices affecting essential goods; includes price fixation, fee regulation, confiscation of hoarded goods with just compensation, and deputization of NGOs and local governments.
- Temporary takeover or direction of private public utilities or businesses that contravene national policy with guarantees of retained management and restoration when appropriate.
- Liberalization of importation and incentives for manufacture or assembly of vehicles and vessels to ease transportation crisis.
- Measures to ensure credit availability to productive sectors, especially rural.
- Authority to stagger working hours and implement flexible work schedules in government and private sectors.
- Regulation and conservation of power, fuel, and energy supplies.
- Reduction of government expenditures via suspension of non-essential services, with respect for security of tenure and reserve fund creation.
- Order recovery and accounting of firearms, explosives, and military equipment in unauthorized possession with presidential authority.
- Ensure military uniforms and equipment are used only by authorized personnel.
- Authorization to undertake other reasonable measures consistent with constitutional guarantees.
Reporting Requirements
- President must report to Congress within ten days of issuing any executive acts, orders, or regulations under this law.
- Monthly reports to Congress detailing actions performed under the law are mandatory.
Penalties for Violations
- Violators face imprisonment of 5 to 10 years, fines ranging from P50,000 to P500,000, or both.
- Corporate liability extends to responsible officers who participated or failed to prevent violations.
- Aliens shall be deported in addition to penalties.
- Public officials face disqualification from office alongside the penalties.
Interpretation and Constitutionality
- The Act does not restrict any constitutional rights or the Bill of Rights.
Separability Clause
- Invalidity of any provision or application does not affect the remaining provisions or applications.
Rules and Regulations Enforcement
- Presidential rules and regulations have the force of law.
- Urgent rules take effect two days post-publication; others take effect after five days.
- Publication in two national newspapers is required, with penal clauses published in both Filipino and English.
- Rules cease after the Act’s expiration but rights and liabilities remain.
Effectivity and Duration
- The Act took effect upon publication in two national newspapers.
- Effective until next sine die adjournment of Congress’s regular session in June 1990.
- Duration not affected by recess adjournments.
- Powers may be withdrawn earlier by concurrent Congressional resolution or Presidential Proclamation.