Presidential Decree No. 313

APPROPRIATING THIRTY MILLION (P30-M) PESOS TO COVER THE THREE HUNDRED THOUSAND COMMON SHARES AT ONE HUNDRED PESOS A SHARE SUBSCRIBED BY THE REPUBLIC OF THE PHILIPPINES IN THE AUTHORIZED CAPITAL STOCK OF THE PHILIPPINE AMANAH BANK

WHEREAS, Presidential Decree No. 264, dated August 2, 1973, has created the Philippine Amanah Bank, with an authorized capital stock of one hundred million pesos designed "to provide credit, commercial, development and savings banking facilities at reasonable terms to the people of the primarily Muslim provinces of Mindanao and Palawan, for the establishment, acquisition, development and expansion of agricultural, commercial and industrial enterprises."

WHEREAS, out of the authorized capital stock of one hundred million (P100-M) pesos of the Philippine Amanah Bank, the Republic of the Philippines is bound to subscribe, pursuant to Section 3(a) of Presidential Decree No. 264, three hundred thousand common shares at one hundred pesos per share, equivalent to THIRTY MILLION (P30-M) PESOS;

WHEREAS, the stock subscription of the Republic of the Philippines to the three hundred thousand common shares in the amount of thirty million (P30-M) pesos has not been provided in the current Appropriation Decree No. 233, which became operative on July 1, 1973;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution and pursuant to General Order No. 1, dated September 22, 1972, issued in pursuance of Proclamation No. 1081, dated 21 September 1972, do hereby decree:

That out of the funds in the National Treasury not otherwise appropriated, the sum of Thirty Million (P30-M) pesos is hereby appropriated for the purpose herein provided in this Decree.

This Decree shall take effect immediately.

Done in the City of Manila, this 19th day of October, in the year of Our Lord, nineteen hundred and seventy-three.