Revised Coconut Industry Code, PD No. 1468

PCA established as an independent public corporation.
Reports directly to and supervised by the President.
Principal office in Greater Manila Area with power to establish branches nationwide.

Formulate and implement development programs for the coconut industry.
Nationwide replanting program using high-yielding hybrid seednuts.
Distribute hybrid seednuts free to coconut farmers.
Coordinate and integrate industry policies and conduct genetical/agricultural research.
Establish research stations for disease control and improved copra techniques.
Expand domestic and foreign markets, regulate marketing and export of copra.
Set standards and inspect copra for quality control.
Prescribe moisture measurement and deduction scales for copra sales.
Impose and collect levies to fund operations.
Contract execution and administrative powers, excluding commercial production of hybrid seednuts.
Regulate production and distribution of subsidized coconut products except government or farmer-owned entities.
Authority to issue subpoenas, summon witnesses, and impose contempt penalties.
Power to enter and inspect premises and vehicles related to subsidized products.
Use Central Bank reports for levy assessment.
Provide rewards and witness security for violations.

Composed of 7 members appointed by the President: 2 government representatives (Chairman and Vice-Chairman), 3 from Philippine Coconut Producers Federation, 1 from United Coconut Association, 1 from hybrid seednut farm operator.
Responsible for management, budgeting, disbursement of levies, organizational structure, and compensation.
Board meetings require quorum of 4 members; 4 votes needed for resolutions.
Members compensated with limited per diem and expense reimbursement.

Coconut Consumers Stabilization Fund Levy imposed on copra and equivalent products, payable by exporters, millers, dessicators, and end-users.
Revenues used to subsidize coconut products, refund premium duties, finance coconut producers federation projects, support industry-related enterprises, and provide social benefits like insurance for farmers.
Coconut Industry Development Fund established to finance hybrid seednut farm, replanting programs, extension services, and industry investments.
Initial P100 million allocated; ongoing levy of at least P0.20 per kilo applied.
Hybrid seednuts exempt from levies and taxes.
Funds owned privately by coconut farmers, not government special or fiduciary funds.
President may authorize audits.
Authority empowered to enforce levy rules, require reports, protect trade secrets.
Interest of 14% per annum and 25% surcharge for willful levy nonpayment; dispute settlements allowed.
Levies deposited interest-free in bank dedicated to coconut farmers; withdrawals limited.

Bank acquired under PD 755 may invest in corporations related to coconut industry development.
Surplus funds from levies used for these investments.
Investments distributed equitably and free to coconut farmers, retaining portions for enterprise continuity.

Willful violation of law or regulations punishable by fines up to P20,000 and imprisonment up to 5 years.
Corporate violations penalized on responsible officers.
Aliens may be deported; naturalized citizens may lose citizenship.
Unlawful possession or use of subsidized products punished similarly; products confiscated and proceeds added to Stabilization Fund.

Abolishes Coconut Coordinating Council, Philippine Coconut Administration, and Philippine Coconut Research Institute; their functions and assets transferred to PCA.
Personnel separated under reorganization get rights similar to other government employees.
Prior to Board assumption, officers continue duties except for abolished Boards which cease immediately.
Existing laws inconsistent with this decree repealed or amended.
Separability clause preserves remainder of decree if any part declared unconstitutional.
Immediate effectivity upon promulgation.