NINETEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
)
Senate
■ 
o( flit
23 JAN 12 P3 34
SENATE
S B. No. 1666
RECEIVED BY:
Introduced by SENATOR IMEE R. MARCOS
AN ACT
STRENGTHENING THE PHILIPPINE CROP INSURANCE CORPORATION 
(PCIC), REPEALING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 1467, 
ENTITLED "CREATING THE 'PHILIPPINE CROP INSURANCE CORPORATION' 
PRESCRIBING ITS POWERS AND ACTIVITIES, PROVIDING FOR ITS 
CAPITALIZATION AND FOR THE REQUIRED GOVERNMENT PREMIUM 
SUBSIDY, AND FOR OTHER PURPOSES," AS AMENDED BY PRESIDENTIAL 
DECREE NO. 1733 AND REPUBLIC ACT NO. 8175
EXPLANATORY NOTE
The Philippine Crop Insurance Corporation (PCIC) is a government-owned and 
controlled corporation created under Presidential Decree (PD) 1467. It was later 
amended by PD 1733 and further amended by Republic Act (RA) No. 8175. It is the 
implementing agency of the government's agricultural insurance program. PCIC is an 
attached agency of the Department of Agriculture (DA) and its principal mandate is to 
provide insurance protection to farmers against losses arising from natural calamities, 
plant diseases and pest infestations of their crops.
Under RA No. 8175, crop insurance remains optional for self-financed farmers 
and is only mandatory upon farmers obtaining production loans for palay under the 
supervised credit program. Thus, with the current law, only financial institutions 
remained secure and a majority of the farmers, those who obtain loans outside the 
supervised credit programs or the so-called self-financed farmers, are unsecured. 
Moreover, other major problems have again resurfaced. Farmers are continuously 
affected by disasters resulting in diminishing agricultural production and posing a 
serious threat to the country's food security. For example, in the DA's 4 October 2022 
Advisory, it was reported that Super Typhoon Karding's damage to the essential
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agriculture sector has reached Php 3.12 billion. The Super Typhoon took a toll on the 
livelihood of some 108,594 farmers in the Cordillera, Ilocos, Cagayan Valley, Central 
Luzon, Calabarzon, Bicol and Western Visayas regions. The volume of production loss 
is pegged at 158,117 metric tons covering 170,762 hectares of land. The rice sector 
alone sustained Php 2.05 billion in damage, with the affected area of 163,162 hectares 
and the volume of production loss at 134,205 metric tons.
The problem with the PCIC is that it has continually failed to adequately protect 
our subsistence farmers from the rigors of calamities, often paying far less than what 
the actual value of the projected harvest is. This bill seeks to amend the PCIC Charter 
to require insurance payment that reflects the actual cost incurred and/or the value of 
the projected harvest of our farmers. It is only by properly compensating the farmers 
that will we fully protect their interest and those of their families. This is very much 
needed at present and in the years to come considering the devastation brought about 
by climate change which has led to stronger typhoons and more unpredictable weather 
patterns.
In view of the foregoing reasons, the passage of this bill is earnestly sought.
MEE R. MARCOS


Senate
of iDcfc'.t'i'lfug-
NINETEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
)
SENATE
S.B. No. 1666
23 JAN 12 P3:34
WiCEIVtOBvf------JL
Introduced by SENATOR IMEE R. MARCOS
AN ACT
STRENGTHENING THE PHILIPPINE CROP INSURANCE CORPORATION 
(PCIC), REPEALING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 1467, 
ENTITLED "CREATING THE 'PHILIPPINE CROP INSURANCE CORPORATION' 
PRESCRIBING ITS POWERS AND ACTIVITIES, PROVIDING FOR ITS 
CAPITALIZATION AND FOR THE REQUIRED GOVERNMENT PREMIUM 
SUBSIDY, AND FOR OTHER PURPOSES," AS AMENDED BY PRESIDENTIAL 
DECREE NO. 1733 AND REPUBLIC ACT NO. 8175
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled:
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SECTION 1. Short Title. - This Act shall be known as the "Revised Charter of
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the Philippine Crop Insurance Corporation".
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SEC. 2. Declaration of Policy. - It is hereby declared the policy of the State:
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(a) To ensure food security, intensify food production, promote agricultural
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credit, and broaden the coverage of mandatory crop insurance amidst the
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recurrence of disasters and calamities, natural or otherwise, such as floods,
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typhoons, heavy rains, and drought that destroys crops, especially palay and
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other grains and crops necessary for food security;
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(b)To alleviate the financial burden of farmers due to uncompensated losses
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arising from destruction of crops wrought by disasters and calamities, keep
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farmers away from indebtedness, enhance farmers' credit standing, and


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provide farmers additional government support to increase agricultural 
production;
(c) To assist banks and financial institutions enhancing their capabilities to 
extend loans to farmers; and
(d) To strengthen the organizational capability and to expand the coverage of 
the Philippine Crop Insurance Corporation (PCIC), a government-owned 
corporation established pursuant to presidential Decree No. 1476 to provide 
insurance protection to farmers against losses arising from natural calamities, 
fortuitous events, plant and fish diseases, and pest infections.
SEC. 3. Expanded purposes and Coverage of the PCIC. -The PCIC, hereinafter 
referred to as the "Corporation", shall insure qualified farmers and fisherfolk against 
losses arising from natural calamities, fortuitous events, plant and fish diseases, and 
pest infections. It shall provide insurance coverage for palayand corn crops, high-value 
commercial crops, livestock, aquaculture and fishery products, agroforestry crops, and 
forest plantation; non-crop agricultural assets such as machineries, equipment, 
transport facilities and other related infrastructure; and life and accident term insurance 
coverage for farmers and fisherfolk. Such crop insurance shall cover, in every case, the 
cost of production inputs, the value of the farmer's or fisherfolk's own labor and 
members of the household including the value of the labor of hired workers, and a 
portion of the projected value of the crop. Such insurance protection, however, shall 
exclude losses arising from avoidable risks emanating from or due to the negligence, 
malfeasance or fraud committed by the insured or any member of the immediate farm 
household or employee, of the failure of the insured to follow proven farm practices.
The Corporation shall also insure properties and facilities which are owned or 
used by government agencies involved in agri-fishery-forestry projects or activities and 
government- financed agri-fishery-forestry projects. It shall also provide reinsurance 
coverage to agri-fishery- forestry properties and facilities underwritten by private and 
government insurance companies, and weather index-based insurance (WIBI) and 
reinsurance for palay and corn crops, high-value commercial crops, livestock, 
aquaculture and fishery products, agroforestry crops, and forest plantations.
SEC. 4. Powers. - The Corporation shall continue to exercise the following 
powers and functions:
(a) To prescribe, repeal, and alter its own by-laws;
(b) To adopt and use a corporate seal;


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(c) To sue and to be sued;
(d) To have continuous succession until dissolved by law;
(e) To determine its operation policies and to issue such rules and regulations 
as may be necessary to implement the crop insurance scheme;
(f) To insure the crop of farmers and fishpond, seaweed, oyster or mussel farm 
or fisherfolk against loss, damage and destruction caused by natural 
calamities such as typhoons, flood, droughts, earthquakes, volcanic 
eruptions, rodents, vermin, diseases, insects and other pests; and to carry 
on any business necessary, related to and expedient for the above purpose;
(g) To insure in the Philippines or abroad all or any risks of the Corporation;
(h) To purchase or otherwise acquire ownership and manage any and all parts 
of the business, property and liabilities of any person or company carrying 
on any business which the Corporation is authorized to carry on or possess;
(i) To acquire by purchase or otherwise acquire ownership of and to invest in, 
hold, sell, or otherwise dispose of stocks or bonds or any interest in either, 
or any obligation or evidence of indebtedness of any corporation, domestic 
or foreign, or the bonds or other obligations or evidence of indebtedness, of 
any person, firm, or corporation; and as owner of such stocks, bonds or 
interest therein, other obligations or evidence of indebtedness, to exercise 
the rights, powers and privileges of ownership, including the right to vote 
thereon or consent in respect thereto for any and all lawful purposes;
(j) To purchase, or otherwise acquire, sell, lease, convey, mortgage, encumber, 
and otherwise deal with any property, real or personal, or any interest 
therein; extend credit on the security of real state or movable property; 
exercise easement right or privilege over or in respect to any property, real 
or personal, as may be permitted by law and as may be reasonable/necessary 
to carry out the purpose for which the Corporation is formed or as may or 
hereafter be permitted by law;
(k) To establish branches whenever it may be expedient and necessary; and
(l) To generate internal funds by floating bonds, expanding the Corporation's 
insurance line to include agricultural guarantee loans, and extending


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coverage to other areas of agriculture, such as livestock, aquaculture, 
fishery, agroforestry, and forest plantation, in order to address insurance 
needs of the target sector and to do and perform acts and things and to 
exercise all the general powers conferred by law upon the Corporation as are 
incidental or conducive to the attainment of the objectives of the Corporation.
SEC. 5. Who Shall Be Insured. - Participation in the insurance for palay and 
other crops essential for food security, as determined by the Department of Agriculture 
(DA), shall be compulsory upon all farmers. For other crops, participation shall be 
compulsory upon all farmers obtaining production loans under the supervised credit 
programs, and optional on the part of self- financed farmers provided they agree to 
place themselves under the supervision of agricultural production technicians.
The term "supervised credit program" as used in this Act shall mean the 
production credit program wherein the farmer who obtained production loans agree in 
writing to apply proven farm practices necessary to conserve the land, improve its 
fertility and increase its production, and abide by the approved farm plan and budget 
jointly prepared by such farmer and the duly accredited supervised credit technician.
The term "supervision of agricultural production technician" shall mean the 
supervision undertaken by agricultural production technicians who are duly accredited 
by the appropriate government agencies concerned, as required under the supervised 
credit system.
SEC. 6. Rate of Premium, Sharing, and Amount of Indemnity. - The rate of 
premium, as well as the allocated sharing thereof of farmers, fisherfolk, lending 
institutions, the Government of the Republic of the Philippines (herein called the 
Government) and other parties, shall be determined by the Board of Directors of the 
Corporation: Provided, That the share of the Government in the premium cost in the 
form of premium subsidy shall be limited to subsistence farmers and fisherfolk: 
Provided, however, That each of these subsistence farmers is cultivating not more than 
seven (7) hectares of farmlands and each fisherfolk is cultivating not more than five 
(5) hectares of fishpond, seaweed, oyster, or mussel farm by themselves or with the 
help of the labor of the members of their households or hired labor, the premium rate 
and sharing to be determined by the Board of Directors: Provided, further. That the 
premium share of the subsistence farmer or fisherfolk shall be reasonably affordable: 
Provided, furthermore. That the Government shall share in the premium cost only in 
insurance coverage against unforeseen and unavoidable risks such as typhoons.


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droughts, rainfall, outbreak of pests and diseases: Provided, finally, That the premium 
subsidy or insurance benefits shall, upon accumulation of surplus funds, be increased 
to such amount as may be determined by the Board of Directors, taking into 
consideration that the Corporation has been established not only for profit but mainly 
to help Filipino farmers and fisherfolk.
The amount of indemnity shall be determined by the Board of Directors, which 
shall take into account the value of the potential harvest for crops at the ripening stage 
of growth; actual cost of production inputs already applied sat the time of loss per farm 
plan and budget, subject to limits stipulated in the policy contract; pro-rated cost of 
the harvested crops; the salvage value; if any, and the percentage of yield loss.
SEC. 7. Premium Subsidy. - (a) The required Government premium subsidy, as 
determined by the Board of Directors and approved by the President of the Philippines, 
shall be deemed appropriated from the funds of the National Treasury not otherwise 
appropriated, and shall be drawn, on a month-to-month or other periodic basis, 
depending upon the actual amount of insurance underwritten by the Corporation. For 
this purpose, the Corporation shall bill the Government the sum of money 
corresponding to the computed amount of subsidy.
(b) Yearly projections of the premium subsidy shall be submitted by the 
Corporation to the President of the Philippines, and upon approval shall be included in 
the Government's budgetary appropriation.
(c) Calamity funds earmarked by the Government shall include a certain 
percentage for crop insurance and shall be released to and administered by the 
Corporation.
(d) Ten percent (10%) of the net earnings of the Philippine Charity Sweepstakes 
Office (peso) from its lotto operation shall be earmarked for the Crop Insurance 
Program and said amount shall be directly remitted by the PCSO to the Corporation 
every six (6) months until the amount of government subscription is fully paid.
SEC. 8. Capital Stock. - (a) The authorized capital stock of the Corporation is 
ten billion pesos (Php 10,000,000,000.00) divided into seventy-five million 
(75,000,000) common shares with a par value of one hundred pesos (Php 100.00) each 
share, which shall be fully subscribed by the Government and twenty-five million 
(25,000,000) preferred shares with a par value of one hundred pesos (Php 100.00)
(b) The common capital stock of one billion five hundred million pesos (Php 
1,500,000,000.00) having been fully paid to the Corporation, the balance of six billion


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pesos (Php 6,000,000,000.00) subscribed by the Government shall be appropriated 
annually by Congress unless otherwise provided by existing laws.
(c) The preferred shares shall be entitled to a preference over common shares 
in any declaration of dividends. They shall also be given priority in the distribution of 
assets in the event of liquidation of the Corporation. They shall have the following 
specific features:
(1) Preferred as to dividends at a minimum of one and one-half percent
(1.5%) or the prevailing three hundred sixty (360)-day Treasury bill rate
at the time of declaration of dividends, whichever is higher;
(2) Cumulative;
(3) Nonparticipating;
(4) Nonvoting;
(5) Dividends thereon shall be exempt from income tax;
(6) Redeemable at the option of the Corporation at the prevailing book 
value but in no case less than par after five (5) years from issuance 
thereof; and
(7) Transferrable.
(d) At least five hundred million pesos (Php 500,000,000.00) of the preferred 
shares shall be subscribed and paid for by the Land Bank of the Philippines (LBP). The 
balance of the preferred shares may be available for sale or to subscription by the 
general public.
SEC. 9. Reserved Fund for Catastrophic Losses. - A state reserve fund for 
catastrophic losses in the amount of five hundred million pesos (Php 500,000,000.00) 
shall be created exclusively to answer for the proportion of all losses in excess of risk 
(pure) premium under the Corporation's Crop Insurance Program for small farmers and 
fisherfolk. The Fund may be increased subject to the approval of the President of the 
Philippines. The Fund shall be administered by a government financial institution to be 
designated by the Corporation's Board of Directors. Such sum as may be necessary for 
the purpose shall be funded by the National Government through the annual General 
Appropriations Act. The mechanics of claims against the Fund and to what extent the 
Fund shall be liable shall be determined jointly with the financial institution 
administering the Fund, subject to the approval by the President of the Philippines.
SEC. 10. Reinsurance. - In order to spread the risk of the Corporation, the PCIC 
is hereby authorized to seek reinsurance protection whenever it may be available.


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SEC. 11. Board of Directors. - (a) The powers of the Corporation shall be vested
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in and exercised by a Board of Directors, hereinafter referred to as the Board, composed
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of seven (7) members and made up of the following: the President of the LBP, the
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President of the Corporation, the DA Secretary, a representative from the private
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insurance industry to be nominated by the Secretary of Finance and three (3)
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representatives from the subsistence farmers' sector, preferably representing agrarian
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reform beneficiaries/cooperatives/associations coming from Luzon, Visayas, and
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Mindanao, who shall be selected and nominated by the different farmers' organizations
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or cooperatives. The respective nominees of the private insurance industry and the
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farmers' sector shall be submitted to and appointed by the President of the Philippines.
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The chairman of the Board shall be appointed by the President of the Philippines from
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among the members of the Board. The President of the Corporation shall also be
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appointed by the President of the Philippines and shall be ex officio Vice Chairman who
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shall assist the Chairman and act in his stead in case of absence or incapacity. In case
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of absence or incapacity of both the Chairman and the Vice Chairman, the Board shall
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designate a temporary chairman from among its members. Except for the President of
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the LBP and the DA Secretary, all members of the Board, including the President of the
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Corporation, shall be appointed by the President of the Philippines within a reasonable
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period of time after the approval of this Act.
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(b) The members of the Board shall have their respective alternates who shall
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attend the meetings, and act as members of the Board in the absence or incapacity of
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the regular members.
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(c) The Board shall meet regularly at least twice a month and as often as the
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exigencies of the Corporation's affairs demand. The presence of at least five (5)
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members shall constitute a quorum which shall be necessary for the transaction of any
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business. The Board may be convoked either by the Chairman or, in his absence, by
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the Vice Chairman.
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(d) The Chairman and the members of the Board shall each receive per diem
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pursuant to existing law for each meeting of the Board personally attended: Provided,
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however, That in the case of the representatives of subsistence farmers' sector, the
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Board is authorized to determine reasonable traveling and, if necessary, subsistence
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expenses in going to and returning from said board meetings to be disbursed to them
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in addition to their per diem.
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SEC. 12. Powers and Functions of the Board of Directors. - The Board shall
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have the following powers and functions:
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(a) To implement the provisions and purposes of this Act;


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(b) To formulate and adopt policies and plans, and to promulgate rules and
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regulations for the management, operation and conduct of the affairs and
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business of the Corporation and, 
for this purpose, may limit or refuse
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insurance in any area or on any farmer because of the risk involved or may
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expand the subject of insurance 
coverage to crops other than palay:
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Provided, That such coverage on 
other crops shall be approved by the
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President of the Philippines;
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(c) To borrow funds from local and international financing sources or institutions
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and issue bonds up to five (5) times the value of its authorized capital stock
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for the purpose of financing the programs and projects deemed vital for the
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attainment of the Corporation's goals and objectives;
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(d)To enter into, make, and execute contracts of any kind or nature as may be
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necessary, or incidental to the accomplishment of the purposes of the
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Corporation;
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(e)To approve the budget of the Corporation and to fix the reasonable
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compensation of its personnel: Provided, That the Board shall have exclusive
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and final authority to promote, transfer, assign or reassign personnel of the
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Corporation and these personnel actions are deemed made in the interest of
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the service and not disciplinary, any provision of existing law to the contrary
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notwithstanding;
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(f) To establish policies and guidelines for employment on the basis of merit,
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technical competence and moral character, and approve a staffing pattern of
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personnel defining their powers and duties; and
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(g)To exercise the general powers mentioned in the Corporation Law insofar as
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these are not inconsistent or incompatible with the provisions of this Act.
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SEC. 13. Management - The management of the Corporation shall be vested
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in the President of the Corporation who shall be a person of known integrity,
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competence in technical and executive fields related to the purposes of this Act. The
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President of the Corporation shall be appointed by the Board and shall not be removed
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except for cause. There shall also be Vice President(s) as the Board may decide, to be
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appointed by the latter. The President of the Corporation shall have the following
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powers and duties:
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(a) To execute and administer the policies, plans and programs and the rules
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and regulations approved or promulgated by the Board;
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(b)To submit for the consideration of the Board such policies, plans and
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programs deemed necessary to carry out the provisions and purposes of this
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Act;


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(c) To direct and supervise the operations and internal administration of the 
Corporation and, for this purpose, to delegate some or any powers and duties 
to subordinate officials;
(d) To recommend to the Board the appointment, promotions, transfer, 
assignment, reassignment, demotion, dismissal and compensation of 
personnel; and
(e) To exercise such other powers and perfoml such other duties as may be 
directed by the Board.
SEC. 14. Settlement of Claims. - (a) Claims for indemnity against the 
Corporation shall be settled by the Corporation's regional manager concerned or the 
appropriate officer to whom the function is delegated. However, if in the opinion of the 
regional manager the claim is novel, difficult, or controversial, the matter may be 
elevated by the regional manager to the President of the Corporation for decision.
(b) The claimant aggrieved by the decision of the regional manager may, within 
thirty (30) days from receipt of the decision, request for reconsideration thereof, and 
if not satisfied therewith, may elevate the matter to the President of the Corporation.
(c) Any party aggrieved by a decision, order or ruling of the President of the 
Corporation may appeal said decision, order, or ruling to the Corporation's Board.
(d) Any claim not acted upon within sixty (60) days from submission of complete 
claim documents to the Corporation shall be considered approved.
SEC. 15. No Claim Benefits. - Any insured farmer or fisherfolk who has not 
filed any claim during the immediately preceding three (3) crop seasons, or any insured 
fishpond or fish cage operator who has not filed any claim during the immediately 
preceding three (3) harvest seasons shall be entitled to a no-claim benefit of at least 
ten percent (10%) of premium share paid for said crop seasons to be deposited in a 
trust fund and to be managed by the Corporation. Such trust fund may be used to 
finance premium rebate or premium credit applicable to the immediately following crop 
seasons as determined by the Board of the Corporation.
SEC. 16. Commission on Audit 
officio auditor of the Corporation.
- The Commission on Audit shall be the ex-
SEC. 17. Legal Counsel. - The Corporation shall have its own Legal 
Department, the Chief and members of which shall be appointed by the Board.
SEC. 18. Interagency Linkages. - (a) To support and promote the operations 
of the Corporation, all government departments, bureaus, offices, agencies and


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instrumentalities, national or local, all lending institutions, government or private, now 
or hereafter engaged in the supervised credit program to farmers and fisherfolk and 
such other public or private entities as may be called upon by the Corporation, shall act 
as cooperating agencies to the Corporation and, for this purpose, are hereby directed 
to design their policies, programs, rules and regulations so as to attune and synchronize 
them with the objectives of the Corporation.
(b) All lending institutions granting production loans for palay, com and other 
crops under the supervised credit program of the Government shall automatically act 
as underwriters for and on behalf of the Corporation. As such, they shall receive and 
process applications for insurance coverage; approve those found in order and collect 
premiums therefor. Premiums so collected, together with the premium payable by the 
lending institution itself, shall be remitted to the Corporation in the manner and within 
such period as may be prescribed by the Corporation.
SEC. 19. Utilization of Profits. - The profits of the Corporation shall be 
determined on a calendar year basis and the manner of its distribution shall be 
determined by law.
SEC. 20. Exemption from Taxes. - In furtherance of the effective achievement 
of the purposes of this Act, the Corporation shall continue to be exempted to the extent 
allowed by national policy from all national, provincial, municipal and city taxes and 
assessments now enforced: Provided, That said exemption shall apply only to such 
taxes and assessments for which the Corporation itself would otherwise be liable and 
shall not apply to taxes and assessments payable by persons or other entities doing 
business with the Corporation.
SEC. 21. Pena! Provisions. - (a) Any person who through malfeasance, 
misfeasance or nonfeasance allows a spurious claim to be paid, including the claimant 
himself, shall, upon final conviction, be punished by imprisonment of not less than three 
(3) years but not more than eight (8) years or a fine of not less than one hundred 
thousand pesos (Php 100,000.00) but not more than six hundred thousand pesos (Php 
600,000.00), or both imprisonment and fine at the discretion of the court. The PCIC 
personnel who allowed the commission of the offense shall, in addition, be dismissed 
from office, and forfeit all privileges and benefits which may accrue to such personnel.
(b) Any person or entity granting production loan for palay under the supervised 
credit program of the Government without requiring crop insurance therefor or having 
collected premiums from farmers, would fail to remit the same within the time and 
place specified in the rules and regulations of the Corporation shall, upon conviction.
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be punished by a fine not exceeding ten thousand pesos (Php 10,000.00) or 
imprisonment of not exceeding six (6) months, or both, at the discretion of court.
(c) Any person or entity who shall violate any provision of this Act or any rule or 
regulation issued for its implementation, for which no penalty is provided, shall be 
deemed guilty of a penal offense and, upon conviction, be punished by a fine not 
exceeding five thousand pesos (Php 5,000.00) or imprisonment of two (2) months, or 
both, at the discretion of the court.
Whenever any violation of the provisions of this section is committed by a 
corporation or association, or by a government office or entity, the executive officer or 
officers of said corporation, association, or government office or entity who shall have 
knowingly permitted, or failed to prevent, said violation shall be held liable as principal.
SEC. 22. Applicability of Presidential Decree No. 612, as Amended. - The 
provisions of the Insurance Code, insofar as they are not in conflict or inconsistent with 
or repugnant to the provisions of this Act, shall apply to the Corporation.
SEC. 23. Term of Existence and Periodic Review. - The Corporation’s term of 
legal existence, which was set to last for fifty (50) years starting from the date of 
approval of Presidential Decree No. 1467 on June 11,1978, shall continue and is hereby 
affirmed. To ensure the Corporation's continuing relevance, the PCTC Board shall 
undertake periodic review of the Corporation's activities and shall submit to both 
Houses of Congress at least once a year a report which shall include, among others, a 
recommendation for improving services to the target sectors and the financial viability 
of the Corporation.
SEC. 24. Separability Clause. - If any provision or part hereof is held 
unconstitutional or invalid, the other provisions not affected shall remain in force and 
effect.
SEC. 25. Repealing Clause. - Presidential Decree No. 1467, Presidential Decree 
No. 1733, Republic Act No. 8175, and all other laws, executive orders, and other 
issuances or parts thereof inconsistent with this Act are hereby repealed or modified 
accordingly.
SEC. 26. Effectivity. - This Act shall take effect fifteen (15) days after its 
publication in the Official Gazette or in a newspaper of general circulation.
Approved,
11