Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for
Presidential Decree No. 381, issued on January 24, 1974, mandates that no tourism-related development projects can commence without prior approval from the Philippine Tourism Authority (PTA). It further stipulates that financial institutions must obtain PTA approval before extending loans for any tourism project activities, including establishment and operation. The decree empowers the PTA to create necessary rules and regulations in line with the Department of Tourism's policies. Violations of this decree may result in penalties as outlined in a previous decree. This law is effective immediately upon issuance.
Quick Answers
- What is Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for about?
- Presidential Decree No. 381, issued on January 24, 1974, mandates that no tourism-related development projects can commence without prior approval from the Philippine Tourism Authority (PTA). It further stipulates that financial institutions must obtain PTA approval before extending loans for any tourism project activities, including establishment and operation. The decree empowers the PTA to create necessary rules and regulations in line with the Department of Tourism's policies. Violations of this decree may result in penalties as outlined in a previous decree. This law is effective immediately upon issuance.
- What type of law is Presidential Decree No. 381?
- Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for (Presidential Decree No. 381) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for enacted?
- Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for (Presidential Decree No. 381) was enacted on Jan 24, 1974.
- What is the citation for Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for?
- Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for, Presidential Decree No. 381, Jan 24, 1974 (Philippines)
Law Information
- Reference Number
- Presidential Decree No. 381
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 24, 1974
PRESIDENTIAL DECREE NO. 381
REQUIRING THE APPROVAL OF THE PHILIPPINE TOURISM AUTHORITY ON CERTAIN DEVELOPMENT PROJECTS AND LOANS APPLIED FOR TO FINANCE THEIR CONSTRUCTION, ETC.
I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, do hereby order and decree: casia
SECTION 1. Any provisions of existing laws, decrees, or rules to the contrary notwithstanding, no development project for tourism purposes shall be undertaken by any person without the prior approval of the Philippine Tourism Authority, in accordance with the policies and guidelines prescribed by the Department of Tourism. cd i
SECTION 2. No loan or loans shall be extended by any financial institution to any person to finance the establishment, construction, rehabilitation, management and/or operation of any development project for tourism purposes without the prior approval of the Philippine Tourism Authority, in accordance with the policies and guidelines prescribed by the Department of Tourism.
SECTION 3. The Board of the Philippine Tourism Authority shall promulgate the necessary rules and regulations in accordance with the policies and guidelines prescribed by the Secretary of Tourism to implement and carry out effectively the purpose, spirit and objective of this decree. casia
SECTION 4. Any person violating or causing another to violate any provision of this decree or of the rules and regulations promulgated by the Philippine Tourism Authority pursuant to the next preceding section shall suffer the penalties provided under Section 4-B of Presidential Decree No. 189, as amended.
SECTION 5. This Decree shall take effect immediately.
DONE in the City of Manila, this 24th day of January, in the year of Our Lord, Nineteen Hundred and Seventy-Four. aisa dc
Cite This Law
Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for, Presidential Decree No. 381, Jan 24, 1974 (Philippines)
Approval of the Philippine Tourism Authority on Certain Development Projects and Loans Applied for, Presidential Decree No. 381 (Phil. 1974)
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- Survey and Segregation of Certain Portion of Pasonanca Park in Zamboanga City for Tourism DevelopmentLetter of Instructions No. 206 • Aug 6, 1974 • Presidential Issuances
- Creating and Designating San Juan, Batangas as a Priority Area for Tourism DevelopmentExecutive Order No. 904 • Jun 29, 2010 • Presidential Issuances
- Deferring Transfer of Hacienda Looc from Development Bank of the Philippines to Philippine Tourism AuthorityLetter of Instructions No. 272 • Apr 23, 1975 • Presidential Issuances
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