Presidential Decree No. 800

 

 

PROVIDING THAT THE SPECIAL FUND CREATED UNDER Section 7 (J) OF REPUBLIC ACT NO. 6173, AS AMENDED, SHALL NOT REVERT TO THE GENERAL FUND EXCEPT UPON SPECIFIC DIRECTION OF THE PRESIDENT

 

WHEREAS, there was created under Section 7 (j) of Republic Act No. 6173 as amended, a Special Fund to be utilized for projects relating to the consumption or use of crude oil, gas, and other petroleum products; for the development of other sources of energy; for exploration and researches on conservation, anti-pollution and other similar studies; to subsidize importation of crude oil and refined petroleum products by government agencies, or government-owned or controlled corporations, to assure adequate and continuous supply of petroleum products at reasonable prices; and such other special economic and social projects as may be determined by the President of the Philippines

 

WHEREAS, it is necessary to assure that said special fund and any unexpended balances thereof or accruals thereto, does not revert and/or is transferred to the general fund or otherwise abolished by operation of law, but continue to be available for the high priority projects and purposes for which it was created;

 

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following as part of the law of the land:

 

Section 1.  Any provision of any special or general law or decree, including but not limited to Presidential Decree No. 711, to the contrary notwithstanding, the special fund created under Section 7 (j) of Republic Act No. 6173, as amended, shall not be abolished and or reverted and/or transferred to the General Fund of the Government except upon specific direction of the President of the Philippines but shall remain and continue as a special account available for continuing outlay by the President.

 

SEC. 2.  This decree shall take effect immediately.

 

Done in the City of Manila this 16th day of September, in the year of Our Lord, nineteen hundred and seventy-five.

 

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Last revised:  February 28, 2016 10:32 PM.

 

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