Presidential Authority to Review and Modify Agreements
- The President of the Philippines may review, amend, modify, revise, rescind, or revoke any contract or privilege related to natural resources.
- This power applies when the national interest requires such intervention.
Administrative Supervision and Suspension of Operations
- Government agencies administering these contracts may recommend suspension of activities.
- The President may summarily suspend operations pending appropriate hearings on violations.
- Suspensions apply when there are breaches of contract conditions or prescribed administrative rules.
Mandated Contract Conditions
- Contracts must contain provisions that ensure close administrative control and supervision.
- These provisions are integral and non-negotiable parts of such agreements.
Repeal and Modification of Conflicting Laws
- All prior laws, decrees, orders, administrative issuances, and regulations inconsistent with this decree are repealed or modified accordingly.
Effectivity Clause
- The decree takes effect immediately upon approval.