AMENDING PRESIDENTIAL DECREE NO. 894 BY CHANGING THE WORDS “SHIPPING LINES” TO “VESSEL” OR “VESSELS” AS THE CASE MAY BE.

WHEREAS, under Presidential Decree No. 806, a general policy
was adopted that Philippine flag vessels shall have at least equal shares as
vessels of another country in the carriage of international cargo between the
Philippines and that other country;

WHEREAS, Presidential Decree No. 894 was promulgated under
the general policy adopted in Presidential Decree No. 806 with the objective of
enabling Philippine flag air carriers and vessels to carry government and
government-financed or supported cargoes and passengers ;

WHEREAS, the use of the words “Philippine flag’ shipping
lines” in Presidential Decree No. 894 has created confusion as to the real
meaning thereof;

WHEREAS, there is a need to amend Presidential Decree No.
894 as to conform to the definition of Philippine flag vessels under
Presidential Decree No. 806;

Now, therefore, I, Ferdinand E. Marcos, President of the
Philippines, by virtue of the powers vested in me by the Constitution, do hereby
decree as part of the laws of the land:

Section 1. Wherever used in Presidential Decree No. 894, the
words “shipping lines” are hereby amended and changed to read as “vessel” or
“vessels”, as the case may be.

Sec. 2. Sections 1, 2 and 3 of Presidential Decree No. 894
are hereby amended or modified accordingly.

This Decree shall take effect immediately.

Done in the City of Manila, this 14th day of July, in the Year of Our Lord,
nineteen hundred and seventy-six.

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