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Presidential Decree No. 1642
WHEREAS, in order to more effectivity promote social justice, it is further necessary to freeze the present rates of rentals of residential and commercial buildings, apartments, houses and dwelling units in Metropolitan Manila, above three hundred pesos (P300) a month, 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. The rates of rental of residential and commercial buildings, houses, apartments and dwelling units in Metropolitan Manila, exceeding three hundred pesos (P300) a month, are hereby frozen at the current levels until further orders.
Section 2. Any person violating any provision of this Decree shall be punished by imprisonment of not less than three (3) months nor more than two (2) years and a fine of not less than one thousand pesos (P1,000) nor more than two thousand pesos (P2,000). Where the offender is a corporation or a juridical entity, the President or General Manager thereof shall suffer the penalty, without prejudice to the imposition of the fine on such corporation or juridical entity.
Section 3. All laws, decrees, rules and regulations inconsistent with this Decree are hereby repealed or modified accordingly.
Section 4. 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.