Exempting the Cooperative Development Loan Fund from the Coverage of P.D. No. 711
Presidential Decree No. 1225, issued on October 21, 1977, exempts the Cooperative Development Loan Fund (CDLF) from the provisions of Presidential Decree No. 711. The CDLF serves as the financing mechanism for the cooperative development program established under Presidential Decree No. 175, which is essential for achieving its objectives. The decree recognizes the potential of the CDLF to evolve into a Bank for Cooperatives as it grows in assets and capabilities. This exemption is effective immediately, underscoring the government's commitment to enhancing cooperative development in the Philippines.
Law Information
- Reference Number
- Presidential Decree No. 1225
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 21, 1977
PRESIDENTIAL DECREE NO. 1225
EXEMPTING THE COOPERATIVE DEVELOPMENT LOAN FUND FROM THE COVERAGE OF PRESIDENTIAL DECREE NO. 711
WHEREAS, the Cooperative Development Loan Fund (CDLF) under Presidential Decree No. 175 as the financing arm of the cooperative development program is vital to the attainment of the objectives of Presidential Decree No. 175; cdt
WHEREAS, the Cooperative Development Loan Fund together with its earnings was originally intended to be a revolving fund;
WHEREAS, the Cooperative Development Loan Fund, as and when it increases its assets and develops capability, may be converted into a Bank for Cooperatives as part of the overall program for cooperative development; cdt
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby promulgate the following: casia
1. The Cooperative Development Loan Fund created under Presidential Decree No. 175 is hereby exempted from coverage of Presidential Decree 711.
2. The Decree shall take effect immediately.
DONE in the City of Manila, this 21st day of October, in the year of Our Lord, Nineteen Hundred and Seventy-Seven.
Published in the Official Gazette, Vol. 74 No. 5 Page 858 on January 30, 1978.
Cite This Law
Exempting the Cooperative Development Loan Fund from the Coverage of P.D. No. 711, Presidential Decree No. 1225, Oct 21, 1977 (Philippines)
Exempting the Cooperative Development Loan Fund from the Coverage of P.D. No. 711, Presidential Decree No. 1225 (Phil. 1977)
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