The Director of Lands shall issue a special patent in favor of the Philippine Tourism Authority subject to the following conditions:
That the Philippine Tourism Authority may not transfer title thereto or any portion thereof, without the consent of the President of the Philippines, although it may encumber the same with any government financing institution for its development;
This decree shall take effect immediately.
Done in the City of Manila, this 5th day of March, in the year of Our Lord, nineteen hundred and seventy-five.
(Sgd.) |
FERDINAND E. MARCOS | |||||||
President |
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Republic of the Philippines | ||||||||
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By the President: | |||||||
(Sgd.) |
ALEJANDRO MELCHOR | |||||||
Executive Secretary |