Cash Rewards to Persons Instrumental in Discovery and Seizure of Smuggled Foreign Currencies
Presidential Decree No. 1056, issued on November 30, 1976, by President Ferdinand E. Marcos, establishes a cash reward system for individuals outside of government and military service who provide information leading to the discovery and seizure of smuggled foreign currencies. The reward is set at 20% of the total amount seized. The decree also repeals or modifies any inconsistent laws or regulations. It takes effect immediately upon approval.
Law Information
- Reference Number
- Presidential Decree No. 1056
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 30, 1976
PRESIDENTIAL DECREE NO. 1056
GRANTING OF CASH REWARD TO PERSONS INSTRUMENTAL IN THE DISCOVERY AND SEIZURE OF FOREIGN CURRENCIES BEING SMUGGLED OUT OF THE COUNTRY
I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:
SECTION 1. That persons not in the government or the Armed Forces of the Philippines giving information leading to the discovery and seizure of convertible foreign currencies being smuggled out of the country shall be entitled to a cash reward equivalent to twenty (20%) per centum of the total amount of the currency seized.
SECTION 2. All laws, acts, decrees, orders, and regulations inconsistent herewith are deemed repealed and/or modified accordingly. cd
SECTION 3. This Decree shall take effect upon its approval.
DONE in the City of Manila, this 30th day of November, in the year of Our Lord, Nineteen Hundred and Seventy-Six.
Cite This Law
Cash Rewards to Persons Instrumental in Discovery and Seizure of Smuggled Foreign Currencies, Presidential Decree No. 1056, Nov 30, 1976 (Philippines)
Cash Rewards to Persons Instrumental in Discovery and Seizure of Smuggled Foreign Currencies, Presidential Decree No. 1056 (Phil. 1976)
Related Laws
- Reward System for Information Leading to Discovery and Seizure of Illegally-Exported Coconut ProductsExecutive Order No. 971 • Jul 17, 1984 • Presidential Issuances
- Amendments to R.A. No. 4712 and R.A. No. 4713 Re: Grant of RewardPresidential Decree No. 708 • May 27, 1975 • Presidential Issuances
- Addition of New Paragraph to Section 5 of P.D. No. 659Presidential Decree No. 786 • Aug 29, 1975 • Presidential Issuances
- Disposition of Confiscated, Forfeited or Abandoned Foreign Currencies or Foreign Exchange InstrumentsPresidential Decree No. 1915 • Apr 5, 1984 • Presidential Issuances
- Immediate Implementation of PD 1731 Re: Rewards to Government Witnesses and InformantsNational Emergency Memorandum Order No. 26 • May 21, 1990 • Presidential Issuances
- Guidelines in the Drive Against Foreign Exchange Smuggling and BlackmarketingLetter of Instructions No. 1412 • Jun 4, 1984 • Presidential Issuances
Browse More Presidential Issuances
Explore other laws in the Presidential Issuances category.
View All Presidential IssuancesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law