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Presidential Decree No. 1640
WHEREAS, to effectively carry out the aims and objectives of the urban land reform program in Metropolitan Manila, it is necessary to freeze the prices of lands until appropriate guidelines, rules and regulations shall have been adopted pursuant to Presidential Decree No. 1517 which proclaimed urban land reform in this country;
Section 1. Any provision of law to the contrary notwithstanding, the prices of lands within Metropolitan Manila, shall until further orders be frozen at current market value determined in accordance with Presidential Decree No. 76, as amended, and other pertinent laws, decrees, rules or regulations.
Section 2. Any person who violates this Decree shall suffer the penalty provided under Section 21 of Presidential Decree No. 1517.
Section 3. This Decree shall take effect immediately.
Done in the City of Manila, this 21st day of September, in the year of Our Lord, nineteen hundred and seventy-nine.