Authority to Grant Loans for Construction of Ship-Building Facilities and Structure
Letter of Instructions No. 294, issued on July 15, 1975, authorizes the Chairman of the National Development Company to grant loans to qualified citizens or private corporations involved in shipbuilding and repairs. This directive aligns with the Philippine government's policy to financially support the long-term shipbuilding program and to promote private enterprise in the shipping industry, as stipulated in Republic Act No. 1407. The loans can be used for constructing shipbuilding facilities and purchasing necessary equipment. This initiative aims to enhance the country's shipbuilding capabilities and infrastructure.
Law Information
- Reference Number
- Letter of Instructions No. 294
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 15, 1975
LETTER OF INSTRUCTIONS NO. 294
| TO | : | The Chairman |
| National Development Company | ||
| SUBJECT | : | Authority to grant loans to qualified citizens or private corporations for the purpose of constructing ship-building facilities and structure |
In line with the declared policy of the government to provide financial assistance to the long-range shipbuilding program of the country and to encourage private enterprise to engage in the shipping industry as enunciated under Republic Act No. 1407, as amended, you are hereby authorized to grant loans from the amount provided for under Sections 3 and 6 of said Act to qualified citizens or private corporations duly registered with the Board of Investments, which are engaged in shipbuilding and ship repairs, for the purpose of constructing shipbuilding facilities and structures, including the purchase or acquisition of equipments necessary for said purpose.
DONE in the City of Manila, this 15th day of July, in the year of Our Lord, Nineteen Hundred and Seventy-Five. cd
Cite This Law
Authority to Grant Loans for Construction of Ship-Building Facilities and Structure, Letter of Instructions No. 294, Jul 15, 1975 (Philippines)
Authority to Grant Loans for Construction of Ship-Building Facilities and Structure, Letter of Instructions No. 294 (Phil. 1975)
Related Laws
- Strengthening the Philippine Ship Building and Ship Repair SectorExecutive Order No. 588 • Dec 8, 2006 • Presidential Issuances
- Providing Incentives to the Shipbuilding and Ship Repair IndustryPresidential Decree No. 666 • Mar 5, 1975 • Presidential Issuances
- Construction of Modern Storage Facilities and Additional Warehouses by the National Grains AuthorityLetter of Instructions No. 1004 • Mar 27, 1980 • Presidential Issuances
- Release of Funds for Construction Loan for the TUCP BuildingLetter of Instructions No. 1237 • May 1, 1982 • Presidential Issuances
- Rules and Regulations for the Construction, Conversion, Alteration, Modification, Re-Building of Philippine-Registered Domestic ShipsMARINA Circular No. 07-15 • Nov 3, 2015 • Other Rules and Procedures
- Authority to Grant LoansAct No. 4169 • Dec 3, 1934 • Statutes
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