Amending P.D. No. 694 As Amended (1975 Revised Charter of Philippine National Bank)

February 20, 1984

PRESIDENTIAL DECREE NO. 1904

AMENDING PRESIDENTIAL DECREE NO. 694, AS AMENDED BY PRESIDENTIAL DECREE NO. 1478, OTHERWISE KNOWN AS "THE 1975 REVISED CHARTER OF THE PHILIPPINE NATIONAL BANK"

WHEREAS, the legal services of the Office of the Government Corporate Counsel and the Office of the Solicitor General are available in general to government-owned or controlled corporations under applicable laws;

WHEREAS, it is necessary to amend the Charter of the Philippine National Bank in order to enable it to avail of the legal services of the said offices;

WHEREAS, the Philippine National Bank has to intensify its campaign for the collection of receivables at minimum cost and as expeditiously as the law will allow;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree:

SECTION 1. Presidential Decree No. 694, as amended by Presidential Decree No. 1478, otherwise known as the 1975 Revised Charter of the Philippine National Bank, is hereby amended by adding after Section 15 thereof a new Section 15-A to read as follows: casia

"Sec. 15-A. Any provision of law to the contrary notwithstanding, the Chief Legal Counsel may, in appropriate cases, avail of the legal services of the Office of the Government Corporate Counsel, the Office of the Solicitor General, or any government legal office authorized to render such services to government-owned or controlled corporations.

"For the services of the staff of the Office of the Government Corporate Counsel, the Bank shall appropriate and pay such amount as may be assessed by Government Corporate Counsel in addition to the allowances which the Bank may grant to defray the transportation and representation expenses of Lawyers who may be assigned to handle the legal affairs of the Bank. cd

"Furthermore, the Bank may, subject to court approval, deputize any member of its legal staff to act as Special Sheriff in the enforcement of court writs and processes in cases involving the Bank."

SECTION 2. This Decree shall take effect immediately.

DONE in the City of Manila, this 20th day of February, in the year of Our Lord, Nineteen Hundred and Eighty-Four.

             Published in the Official Gazette, Vol. 80 No. 16 Page 2369 on April 16, 1984.