Proclamation No. 835, s. 1991

PMS LISRARY

MALACANANG NOV 15 W9l

Manila BY THE PRESIDENT OF THE PHILIPPINES PROCLAMATION NO. 835

AMENDING PROCLAMATION NO. 1530, DATED FEBRUARY 2, 1976, BY VESTING IN THE LAND BANK OF THE PHILIPPINES, IN LIEU OF THE PHILIPPINE AMANAH BANK, THE PRIMARY RESPONSIBILITY OF FINANCING THE ACQUISITION OF PRIVATELY OWNED PARCELS OF LAND SITUATED AT PANAMAO, TALIPAO AND TIPTIPON, PRO- VINCE OF SULU, WHICH ARE UNDER THE ADMINISTRATION AND DISPOSITION OF THE DEPARTMENT OF AGRARIAN REFORM

WHEREAS, Proclamation No. 1530, dated February 2, 1976, reserved for settlement purposes certain parcels of land Situated at Panamao, Talipao and Tiptipon, Province of Sulu;

WHEREAS, the said Proclamation expressly provides that: "With respect to those lots for which certificates of title were already issued, the Department of Agrarian Reform and the Philippine Amanah Bank are hereby authorized to expropriate the said areas and/or negotiate for their acquisition pursuant to the provisions of Republic Act 3844, as amended by Republic Act 6389. Whatever amounts are necessary for the purpose shall be taken out of the funds of the Philippine Amanah Bank to finance the acquisition of the private properties covered by this Proclamation;

WHEREAS, the Philippine Amanah Bank until its closure ren- dered no substantial financial assistance for the acquisition of privately owned parcels of land covered by the Proclamation to the prejudice of the program;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, upon recommendation of the Secretary of Agrarian Reform and the President of the Land Bank of the Philippines and by virtue of the powers vested in me by law, do hereby amend the following paragraph of Proclamation No. 1530, s. 1976, to wit:

"With respect to those lots for which certificates of titles were already issued, the Department of Agrarian Reform and the Philippine Amanah Bank are hereby authorized to expropriate the said areas and/or negotiate for their acquisition pursuant to the provi- sions of Republic Act No. 3844, as amended by Republic Act No. 6389. Whatever amounts are necessary for the purpose shall be taken out of the funds of the Philippine Amanah Bank to finance the acquisition of the private properties covered by this Proclamation."

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which shall now read as follows:

"The Land Bank of the Philippines is hereby substituted in the place of the defunct Philippine Amanah Bank in all aspects having to do with the role N of the Philippine Amanah Bank under Proclamation No. 1530, dated February 2, 1976.

"With respect to those lots, for which certificates of titles were already issued, the Department of Agrarian Reform and the Land Bank of the Philippines are hereby authorized to expropriate the said areas and/or negotiate for their acquisi- tion pursuant to Republic Act No. 3844, as amended by Republic Act No. 6389. Whatever amounts are necessary for the purpose shall be taken out of the Agrarian Reform Fund to be drawn by the Land Bank of the Philippines to finance the acquisi- tion of the private properties covered by this Proclamation."

IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.

Done in the City of Manila, this 14th day of November, in the year of Our Lord, nineteen hundred and ninety one.

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By the President:

IN M. DRILON ive Secretary