Increasing the Capitalization of the Human Settlements Development Corp.
Presidential Decree No. 1750, issued on December 12, 1980, increases the capitalization of the Human Settlements Development Corporation (HSDC) to support ongoing housing and livelihood projects under the BLISS program. The decree sets the authorized capital stock at Five Billion Pesos, divided into 5,000,000 shares, each valued at One Thousand Pesos. Subscriptions can be made by the national government, government-owned corporations, and local government units in various forms, including cash and property. This amendment aims to ensure the HSDC has the necessary resources to effectively implement its programs. The decree took immediate effect upon its issuance.
Quick Answers
- What is Increasing the Capitalization of the Human Settlements Development Corp. about?
- Presidential Decree No. 1750, issued on December 12, 1980, increases the capitalization of the Human Settlements Development Corporation (HSDC) to support ongoing housing and livelihood projects under the BLISS program. The decree sets the authorized capital stock at Five Billion Pesos, divided into 5,000,000 shares, each valued at One Thousand Pesos. Subscriptions can be made by the national government, government-owned corporations, and local government units in various forms, including cash and property. This amendment aims to ensure the HSDC has the necessary resources to effectively implement its programs. The decree took immediate effect upon its issuance.
- What type of law is Presidential Decree No. 1750?
- Increasing the Capitalization of the Human Settlements Development Corp. (Presidential Decree No. 1750) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Increasing the Capitalization of the Human Settlements Development Corp. enacted?
- Increasing the Capitalization of the Human Settlements Development Corp. (Presidential Decree No. 1750) was enacted on Dec 12, 1980.
- What is the citation for Increasing the Capitalization of the Human Settlements Development Corp.?
- Increasing the Capitalization of the Human Settlements Development Corp., Presidential Decree No. 1750, Dec 12, 1980 (Philippines)
Law Information
- Reference Number
- Presidential Decree No. 1750
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 12, 1980
PRESIDENTIAL DECREE NO. 1750
INCREASING THE CAPITALIZATION OF THE HUMAN SETTLEMENTS DEVELOPMENT CORPORATION
WHEREAS, the Ministry of Human Settlements has consistently and successfully pursued its shelter and livelihood projects under the BLISS programs creating not only fresh strategic solutions but also new financial and liquidity approaches to the housing and income-generation problems of the government; cd i
WHEREAS, the Human Settlements Development Corporation, an implementing corporate agency of the Ministry of Human Settlements has likewise succeeded in providing support services and financial conduits to the Ministry's various programs including the BLISS and other land development programs;
WHEREAS, the continued and sustained implementation of the Ministry's programs that requires corporate flexibilities may exhaust HSDC resources;
WHEREAS, it has now become necessary to increase the capitalization of the Human Settlements Development Corporation;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree the amendment of P.D. No. 1396 as follows:
"Section 10. Capitalization of the Corporation. — The Corporation shall have an authorized capital stock of Five Billion Pesos (P5,000,000,000) divided into 5,000,000 shares with a par value of One Thousand Pesos (P1,000) per share to be subscribed and paid for by the Government of the Republic of the Philippines.
This authorized capital stock may be subscribed and paid by the national government, government owned or controlled corporations and local government units, in the form of equity investment, in cash or in property. Funds earlier released for BLISS projects may also be used for the purpose."
This Decree shall be effective immediately .
DONE in the City of Manila, this 12th day of December, in the year of Our Lord, Nineteen Hundred and Eighty.
Published in the Official Gazette, Vol. 77 No. 4, 449-14 Supp., on January 26, 1981.
Cite This Law
Increasing the Capitalization of the Human Settlements Development Corp., Presidential Decree No. 1750, Dec 12, 1980 (Philippines)
Increasing the Capitalization of the Human Settlements Development Corp., Presidential Decree No. 1750 (Phil. 1980)
Related Laws
- Creating the Department of Human SettlementsPresidential Decree No. 1396 • Jun 2, 1978 • Presidential Issuances
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- Creating the Human Settlements and Planning CommissionPresidential Decree No. 406 • Mar 4, 1974 • Presidential Issuances
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