Presidential Decree No. 1649 — WHEREAS, Presidential Decree No. 1112 created the Toll Regulatory Board to closely supervise and regulate the collection of toll fees for the use of certain public improvements and the operation of toll facilities by the private sector viewed as an alternative source of financing to ensure the prosecution of infrastructure projects that complement the overall national development effort:

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Presidential Decree No. 1649

WHEREAS, Presidential Decree No. 1112 created the Toll Regulatory Board to closely supervise and regulate the collection of toll fees for the use of certain public improvements and the operation of toll facilities by the private sector viewed as an alternative source of financing to ensure the prosecution of infrastructure projects that complement the overall national development effort:

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Section 1 · Section 2 of Presidential Decree No Section 2 · This Decree shall take effect immediately

Section 1

Section 2 of Presidential Decree No

Section 1. Section 2 of Presidential Decree No. 1112 is hereby amended to read as follows:

"Sec. 2. Toll Regulatory Board. There is hereby created the Toll Regulatory Board hereinafter referred to as the "Board" composed of the Minister of Transportation and Communications as Chairman, the Deputy Director-General for Program and Projects of the National Economic and Development Authority, the Deputy Minister of Public Highways, the Deputy Minister of Finance and a representative from the private sector preferably a lawyer or an economist with adequate experience in public utilities regulation to be appointed by the President as Members".

Section 2

This Decree shall take effect immediately

Section 2. This Decree shall take effect immediately.

DONE in the City of Manila, this 26th day of October, in the year of Our Lord, nineteen hundred and seventy-nine.