M a n i l a
PRESIDENTIAL DECREE No. 1225
EXEMPTING THE COOPERATIVE DEVELOPMENT LOAN FUND FROM THE COVERAGE OF PRESIDENTIAL DECREE NO. 711
WHEREAS, the Cooperative Loan Fund ( LF) under Presidential Decree No. 175 as the financing arm of the cooperative development program is vital to the attainment of the objectives of Presidential Decree No. 175;
WHEREAS, the Cooperative Development Loan Fund together with its earnings was originally intended to be a revolving fund;
WHEREAS, the Cooperative Development Loan Fund, as and when it increases its assets and develops capacity, may be converted into a Bank for Cooperatives as part of the overall program for cooperative development;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby promulgate the following:
- The Cooperative Development Loan Fund created under Presidential Decree No. 175 is hereby exempted from coverage of Presidential Decree 711.
- The Decree shall take effect immediately.
Done in the City of Manila, this 21st day of October, in the Year of Our Lord, nineteen hundred and seventy-seven.
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