Amending R.A. No. 6260 Re: Institution of a Coconut Investment Fund
Presidential Decree No. 514, issued on July 19, 1974, amends Republic Act No. 6260, which established the Coconut Investment Fund and the Coconut Investment Company. The decree modifies the composition of the Company's Board of Directors, allowing the President to appoint the Chairman and General Manager, thereby enhancing coordination with government policies. The amended Board will consist of 13 members, including the President's appointees and the existing members outlined in the original act. All conflicting provisions of Republic Act No. 6260 are repealed or amended accordingly, and the decree takes immediate effect.
Law Information
- Reference Number
- Presidential Decree No. 514
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 19, 1974
PRESIDENTIAL DECREE NO. 514
AMENDING REPUBLIC ACT NO. 6260, ENTITLED AN "ACT INSTITUTING A COCONUT INVESTMENT FUND AND CREATING A COCONUT INVESTMENT COMPANY FOR THE ADMINISTRATION THEREOF"
WHEREAS, Republic Act No. 6260 instituting a Coconut Investment Fund and creating a Coconut Investment Company to administer said Fund provides that the corporate powers of the Company shall be vested in a Board of Directors elected by coconut planters through annual elections; and
WHEREAS, there is need to modify the composition of the Board to further enhance coordination of the Company's operations with established government policies and programs;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following:
The Chairman of the Board and the General Manager of the Coconut Investment Company shall be appointed by the President during the period that the Company is a government corporation. They shall, together with the eleven (11) members specified under Republic Act No. 6260, comprise a Board of Directors of 13 members which shall exercise the corporate powers of the Company.
Any and all provisions of Republic Act No. 6260 which are inconsistent herewith are hereby repealed and/or amended accordingly.
SECTION 3. This Decree shall take effect immediately.
DONE in the City of Manila, this 19th day of July, in the year of Our Lord, Nineteen Hundred and Seventy-Four.
Cite This Law
Amending R.A. No. 6260 Re: Institution of a Coconut Investment Fund, Presidential Decree No. 514, Jul 19, 1974 (Philippines)
Amending R.A. No. 6260 Re: Institution of a Coconut Investment Fund, Presidential Decree No. 514 (Phil. 1974)
Related Laws
- Establishing a Coconut Consumers Stabilization FundPresidential Decree No. 276 • Aug 20, 1973 • Presidential Issuances
- Creating a Coconut Reserve FundPresidential Decree No. 1842 • Jan 16, 1982 • Presidential Issuances
- Instituting a Procedure for the Management of Special and Fiduciary FundsPresidential Decree No. 1234 • Nov 8, 1977 • Presidential Issuances
- Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) LevyLetter of Instructions No. 940 • Oct 4, 1979 • Presidential Issuances
- Amendments to P.D. No. 232 As AmendedPresidential Decree No. 414 • Apr 18, 1974 • Presidential Issuances
- Amending P.D. No. 232 Re: Creation of Philippine Coconut AuthorityPresidential Decree No. 271 • Aug 9, 1973 • Presidential Issuances
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