AUTHORIZING THE CONTINUANCE OF THE SYSTEM OF REVIEW BY THE PRESIDENT OF CONTRACTS, FRANCHISES, PERMITS AND OTHER FORMS OF PRIVILEGES GRANTED BY THE STATE, ESTABLISHED UNDER PRES…

WHEREAS, pursuant to Section 12 of Article XVII of the 1973
Constitution, as amended, and other pertinent provisions of the said
Constitution, Presidential Decree No. 1677-A was promulgated on February 19,
1980, to provide for a system of review of all contracts, concessions, permits
or other forms of privilege for the exploration, development, exploitation or
utilization of natural resources; all franchises for public utilities; foreign
exchange borrowings converted into pesos, otherwise known as Central Bank
rediscounting arrangements; titles to land; and other forms of contract entered
into by the government or any of its subdivisions, agencies or
instrumentalities, including government-owned or controlled corporations;

WHEREAS, it is proper and necessary that the system of
review by the President of contracts, franchises, permits and other forms of
state grant, as prescribed under Presidential Decree No. 1677-A, dated February
19, 1980, be continued;

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:

SECTION 1. The President of the Philippines shall continue
to exercise, as provided in Section 1 of Presidential Decree No. 1677-A, the
power to review all contracts, concessions, permits and other forms of privilege
for the exploration, development, exploitation or utilization of natural
resources; all franchises for public utilities; foreign exchange borrowings
converted into pesos, otherwise known as swaps; Central Bank rediscounting
arrangements; titles to land; construction and architectural design contracts;
and other forms of contract entered into by the government or any of its
subdivisions, agencies or instrumentalities, including government-owned or
controlled corporations.

SEC. 2. All the provisions of Section 2 of Presidential
Decree No. 1677-A shall continue in full force and effect until modified or
repealed by the President.

SEC. 3. All laws, decrees, orders, rules and regulations
which are in conflict or inconsistent with the provisions of this decree are
hereby repealed or modified accordingly.

SEC. 4. This decree shall take effect immediately.

Done in the City of Manila, this 16th day of January, in the year of Our
Lord, nineteen hundred and eighty-one.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.) JUAN C. TUVERA
		Presidential Executive Assistant

Vol. 25, Vital Documents, Presidential Decree 1980-1981