PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
PRESIDENTIAL DECREE NO. 1871 - AMENDING Section ONE OF PRESIDENTIAL DECREE NUMBERED THIRTY-TWO
the Asian Development Bank (ADB) conducts a general review, and
whenever appropriate, approves the increase of the Bank's authorized
capital stock and subscriptions of member countries including the
WHEREAS, on 25 April 1983, the Board of Governors of the Bank adopted Resolution No. 158 which provides for a third general increase in the Bank's authorized capital stock and for subscriptions to such increase by the Bank's members; and
WHEREAS, there is a continuing need to meet any increase in the subscription of the Republic of the Philippines to the capital stock of the Asian Development Bank.
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.chanroblesnad Section 1 of Presidential Decree No. 32, is hereby amended to read as follows:
"Section 1.chanroblesnad The President of the Philippines is hereby authorized to negotiate for the increase of the subscription of the Republic of the Philippines to the capital stock of the Asian Development Bank in such amounts as promulgated thereunder.
Sec. 2.chanroblesnad This Decree shall take effect immediately.
Done in the City of Manila, this 18th day of July, in the year of Our Lord, nineteen hundred and eighty-three.
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