Republic Acts1 min read
Section 3Sec./Art. 3
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Section 7 of Republic Act No. 8178, as amended by Republic Act No. 11203, is hereby further amended as follows:
"Section 9. Powers of the President. - x x x
x x x
(b) In the event of any imminent or forecasted shortage, or any other situation requiring govenrment intervention, the President is empowered for a limited period and/or a specified volume, to authorize the importation at a lower applied tariff rate to address the situation. Such order shall take effect immediately and can only be issued when Congress is not in session.
When there is an excessive supply of imported or locally produced rice resulting in an extraordinary decrease in local price prices, the President may suspend or prohibit further importation for a limited period and/or a specified volume until both rice supply and prices stabilize; and
(c) In case the calculated out-quota tariff rate referred to under Section 8(c) of this Act exceeds one hundred percent (100%), the provision of Paragraph 1, Section 1608(a) of the CMTA shall also not apply."
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