Guidelines Governing Implementation of P.D. No. 745
Letter of Instructions No. 338, issued on November 18, 1975, directs the General Manager of the Government Service Insurance System and the Administrator of the Social Security System to implement guidelines for financing low-cost housing projects. These projects are intended for domestic corporations and partnerships with at least 300 employees and must exclusively benefit those workers. The guidelines stipulate that loan interest rates must not exceed 6% per annum, and the repayment period is set at 25 years. Compliance with these instructions is required immediately.
Law Information
- Reference Number
- Letter of Instructions No. 338
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 18, 1975
LETTER OF INSTRUCTIONS NO. 338
| TO | : | The General Manager |
| Government Service Insurance System | ||
| The Administrator | ||
| Social Security System |
In the implementation of Presidential Decree No. 745 dated July 15, 1975 authorizing the liberalization of financing and credit terms for low-cost housing to be undertaken by domestic corporations and partnerships with at least three hundred (300) employees or workers, exclusively for such employees and workers, the following guidelines shall be observed:
1. the interest rates on the loans granted shall not exceed six (6%) per cent per annum; and
2. repayment period shall be twenty-five (25) years.
Immediate implementation and compliance with this Letter of Instruction is desired. casia
DONE in the City of Manila, this 18th day of November, Nineteen Hundred and Seventy-Five.
Cite This Law
Guidelines Governing Implementation of P.D. No. 745, Letter of Instructions No. 338, Nov 18, 1975 (Philippines)
Guidelines Governing Implementation of P.D. No. 745, Letter of Instructions No. 338 (Phil. 1975)
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