WHEREAS, it is necessary to amend Presidential Decree No. 232 creating a Philippine Coconut Authority in order to further strengthen the coconut industry;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, pursuant to Proclamation No. 1081, dated September 21, 1972 and General Order No. 1, dated September 22, 1972, as amended, do hereby order and decree the amendment to Presidential Decree No. 232 as follows:
SECTION 1. Section 4 of Presidential Decree No. 232 is hereby amended to read as follows:
"SEC. 4. Governing Board. — The Authority shall be governed by a Board of nine members who shall meet as often as necessary, composed of:
(a) The Chairman;
(b) The Vice Chairman;
(c) The Chairman, National Science Development Board;
(d) The Undersecretary of Agriculture and Natural Resources;
(e) The Undersecretary of Trade;
(f) The Director-General, NEDA or his representative;
(g) The Chairman, United Coconut Association of the Philippines;
(h) The President, Philippine Coconut Producers Federation; and
(i) The Chairman of the Board, Coconut Investment Company."The Chairman and the Administrator of the Authority shall be appointed by the President. The Administrator of the Authority shall automatically be the Vice Chairman.
"SEC. 2. Section 5 of the same Decree is hereby amended to read as follows:
"SEC. 5. Management. — The management of the Authority shall be vested in an Administrator, who shall have the following powers and duties:
SEC. 3. All laws, executive and administrative orders, rules and regulations, inconsistent with the foregoing provisions, are hereby repealed, or amended accordingly.
SEC. 4. This Decree shall take effect immediately.
Done in the City of Manila, this 9th day of August, in the year of Our Lord,
nineteen hundred and seventy-three.
(Sgd.) FERDINAND E. MARCOS
President
Republic of the Philippines
By the President: (Sgd.) ROBERTO V. REYES Assistant Executive Secretary