WHEREAS, in order to attain the above objective, it is necessary that all contracts entered into, concessions, licenses, permits, leases or similar privileges granted or issued by any government agency or instrumentality for the exploration, development exploitation or utilization of any of the natural resources of the country should contain provisions that shall guarantee close administrative supervision and control over their implementation;
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:
SECTION 1. All contracts entered into and all concessions, licenses, permits, leases and similar privileges granted or issued by any agency or instrumentality of the government involving the exploration, development, exploitation or utilization of any of the natural resources of the country shall contain the following conditions as integral parts thereof;
SEC. 2. All laws, decrees, orders, administrative issuances, rules and regulations inconsistent herewith are hereby repealed or accordingly modified.
SEC. 3. This Decree shall take effective upon its approval.
DONE in the City of Manila, this 11th day of June, in the year of Our Lord, nineteen hundred and seventy-eight.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
By the President: (Sgd.) JACOBO C. CLAVE Presidential Executive Assistant