AMENDING PRESIDENTIAL DECREE NO. 694, AS AMENDED BY 1478, OTHERWISE KNOWN AS “THE 1975 REVISED CHARTER OF THE PHILIPPINE NATIONAL BANK.”

WHEREAS, the legal services of the Office of the Government
Corporate Counsel and the Office of the Solicitor General are available in
general to government-owned or controlled corporations under applicable
laws;

WHEREAS, it is necessary to amend the Charter of the
Philippine National Bank in order to enable it to avail of the legal services of
the said offices;

WHEREAS, the Philippine National Bank has to intensify its
campaign for the collection of receivables at minimum cost and as expeditiously
as the law will allow;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution, do hereby
decree:

SECTION 1. Presidential Decree No. 694, as amended by
Presidential Decree No. 1478, otherwise known as the 1975 Revised Charter of the
Philippine National Bank, is hereby amended by adding after Section 15 thereof a
new Section 15-A to read as follows:

“SECTION 15-A. Any provision of law to the contrary
notwithstanding, the Chief Legal Counsel may, in appropriate cases, avail of the
legal services of the Office of the Government Corporate Coursel, the Office of
the Solicitor General, or any government legal office authorized to render such
services to government-owned or controlled corporations.

“For the services of the staff of the Office of the Government Corporate
Counsel, the Bank shall appropriate and pay such amount as may be assessed by
Government Corporate Counsel in addition to the allowances which the Bank may
grant to defray the transportation and representation expenses of lawyers who
may be assigned to handle the legal affairs of the Bank.

“Furthermore, the Bank may, subject to court approval, deputize any member of
its legal staff to act as Special Sheriff in the enforcement of court writs and
processes in cases involving the Bank.”

SEC. 2. This Decree shall take effect immediately.

Done in the City of Manila, this 20th day of February, in the year of Our
Lord nineteen hundredand eighty-four.

			(Sgd.) FERDINAND E. MARCOS President Republic of the Philippines
	By the President:
	(Sgd.) MANUEL M. LAZARO
		Presidential Assistant for Legal Affairs