Article 154Labor and Agrarian Laws and Social Legislation, p. 154

LABOR LAWS AND SOCIAL LEGISLATION SPECIAL LAWS AND IMPLEMENTING RULES AND REGULATIONS

pesos (P600,000,000.00), such that at the end of a period

of four (4) years the subscribed capital shall be fully

paid-up, in the following manner:

For the initial increase in paid-up capital during the

first year, the difference of One hundred fifty million

pesos (P150,000,000.00) shall be paid and appropriated

for by government; for the second year, One hundred fifty

million pesos (P150,000,000.00); for the third year, One

hundred million pesos (P100,000,000.00); and for the

fourth year, One hundred million pesos (P100,000,000.00).

The appropriations for the additional paid-up capital

shall

be

sourced

from

the

share

of

the

national

government in the earnings of the PAGCOR, in the

manner provided for under Sec. 18, which provides for the

appropriations under this Act.

Section

16.

Special

credit windows in existing

Government

Financing

Institutions

(GFIs) .

–

The

existing government financial institutions shall provide

for the savings and credit needs of the poor. The GFIs

such as the Land Bank of the Philippines, Philippine

Postal Bank, Al Amanah Bank, and the Development

Bank

of

the

Philippines

are

hereby

mandated

to

coordinate with NAPC and PCFC in setting up special

credit windows and other arrangements, such as the

servicing of Small Savers Instruments (SSIs), that will

promote the microfinance program of this Act.

The private financing institutions may also provide

the savings and credit requirements of the poor by

setting

up

similar

credit

windows

and

other

arrangements to promote the savings component of the

microfinance program of this Act.

Special credit windows for the poor shall, as far as

practicable, include an allocation for the basic sectors, as

defined in this Act, particularly those living in the rural

areas, agrarian reform communities, and women in the

countryside.

Section 17. PCFC privatization . – In the event that

the ownership of the majority of the issued voting stocks

of PCFC shall have passed to private investors (exclusively

qualified

nongovernment

organizations,

people's

organizations and cooperatives), the stockholders shall

cause the registration with the Securities and Exchange

Commission (SEC) of the revised Articles of Incorporation

and By-laws. The PCFC shall thereafter be considered as a

privately

organized

entity

subject

to

the

laws

and

regulations generally applied to private corporations.

The chairman of the PCFC may still be a member of

the National Anti-Poverty Commission (NAPC) upon the

privatization of the PCFC: Provided, That the PCFC will

continue its main purpose of providing for the savings

and credit needs of the poor.

TITLE III APPROPRIATIONS FOR THE NATIONAL

ANTI-POVERTY COMMISSION (NAPC) AND THE

PEOPLE'S DEVELOPMENT TRUST FUND (PDTF)

Section

18.

Appropriations .

–

To

carry

out

the

provisions

of

this

Act,

the

following

amounts

are

appropriated as follows:

(1)

The

sum

of

One

hundred

million

pesos

(P100,000,000.00) is hereby appropriated as the initial

operating fund in addition to the unutilized funds of the

rationalized commission and councils. The sum shall be

sourced

from

the

President's

Contingent

Fund.

In

subsequent years, the amount necessary to implement

this Act shall be included in the annual appropriations.

The said amounts shall be under the management of the

NAPC.

(2)

The

aggregate

sum of Four billion and five

hundred million pesos (P4,500,000,000.00) for ten (10)

years is hereby appropriated for the establishment of the

People's Development Trust Fund (PDTF) from the share

of

the

national government in the earnings of the

Philippine

Amusement

and

Gaming

Corporation

(PAGCOR), in the following manner: on the first year,

Three hundred fifty million pesos (P350,000,000.00); on

the

second

year,

Three

hundred

fifty

million pesos

(P350,000,000.00); on the third year, Four hundred million

pesos

(P400,000,000.00);

on

the

fourth

year,

Four

hundred million pesos (P400,000,000.00); on the fifth

year and every year thereafter until the tenth year, Five

hundred million pesos (P500,000,000.00) annually.

(3) The aggregate sum of Five hundred million pesos

(P500,000,000) for four years shall be appropriated for the

increase in the capitalization of the PCFC, from the share

of

the

national government in the earnings of the

PAGCOR,

at

such

time

that

the

increase

in

the

capitalization of the PCFC, in the manner provided for

under Sec. 15 of this Act, shall have been effected. The

appropriation shall be made in the following manner: on

the

first

year,

One

hundred

fifty

million

pesos

(P150,000,000.00); on the second year, One hundred fifty

million pesos (P150,000,000.00); on the third year, One

hundred million pesos (P100,000,000.00); and on the

fourth year, One hundred million pesos (P100,000,000.00).

Section 19. Transitory provision . – The Social Reform

Council (SRC) and the representatives therein shall, in

temporary capacity, exercise the powers and assume the

duties of the NAPC until such time that the members of

NAPC shall have been duly appointed or designated.

The

Office

of

the

President shall formulate the

implementing rules and regulations (IRR) of this Act

within six (6) months after its effectivity.

The assets, liabilities and personnel of PCFP, SRC and

PCCD are hereby transferred to the NAPC. Personnel who

cannot be absorbed by NAPC shall be entitled to a

separation pay of one-and-a-half (1 1/2) months for every

year

of

service

and

other

benefits

under

existing

retirement

laws,

at

the

option

of

the

personnel

concerned.

Section 20. Repealing clause . – All laws, executive

orders,

rules

and

regulations,

or

parts

thereof,

inconsistent with this Act are hereby repealed, amended

or modified accordingly. The provisions of this Act shall

not be repealed, amended or modified unless expressly

provided in subsequent general or special laws.

Section 21. Separability clause . – If any provision of

this Act shall be held invalid or unconstitutional, the

remaining provisions thereof not affected thereby shall

remain in full force and effect.

Section 22. Effectivity clause . – This Act shall be

effective on June 30, 1998.

Approved: December 11, 1997

RA No 9257 | Expanded Senior Citizens

Act of 2003

Amending RA No 7432 (1992), and further amended by

RA 9994 (2010), retitling to the Expanded Senior

Citizens Act of 2010

Rules and Regulations Implementing the Expanded

Senior Citizens Act of 2010

February 26, 2004

AN ACT GRANTING ADDITIONAL BENEFITS AND

PRIVILEGES TO SENIOR CITIZENS AMENDING FOR THE

PURPOSE REPUBLIC ACT NO. 7432, OTHERWISE

KNOWN AS "AN ACT TO MAXIMIZE THE CONTRIBUTION

OF SENIOR CITIZENS TO NATION BUILDING, GRANT

BENEFITS AND SPECIAL PRIVILEGES AND FOR OTHER

PURPOSES"

Be it enacted by the Senate and House of

Representatives of the Philippines in Congress

assembled :

SECTION 1. Declaration of Policies and Objectives . –

As provided in the Constitution of the Republic of the

Philippines, it is the declared policy of the State to

© Compiled By RGL

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