Repeal on PNISC steel mill transfer rule

The Decree recognizes that the Development Bank of the Philippines owns the Iligan Steel Mill, together with its buildings, equipment, and machineries, which are presently leased to the National Steel Corporation.
Section 14 of Presidential Decree No. 1402 is identified as directing the Development Bank of the Philippines to transfer, assign and convey the Iligan Steel Mill to the Philippine National Iron and Steel Corporation.
The Decree declares a government policy to encourage the private sector to actively participate in promoting national welfare, the economic program, and industrialization.
The Decree states that disposing the steel mill to any qualified person or groups of persons, corporations or other business establishments engaged or about to engage in the iron and steel industry or related activities requires removing the prior limitation on disposition to enable the Development Bank of the Philippines to comply with commitments with the World Bank and the Asian Development Bank.

Section 1 repeals Section 14 of Presidential Decree No. 1402.
The repealed Section 14 of Presidential Decree No. 1402 is the rule that directed the Development Bank of the Philippines to transfer, assign and convey the Iligan Steel Mill to the Philippine National Iron and Steel Corporation.
After Section 1, the legal requirement compelling that specific transfer, assignment, and conveyance under Section 14 of Presidential Decree No. 1402 is removed.

The Decree contains no procedural steps for implementation beyond its immediate effectivity.
The operative change is the repeal in Section 1; no additional administrative actions, approvals, filings, or conditions are established.
The Decree creates no new definitions, regulatory standards, or compliance requirements other than the repeal directive.