Presidential Decree No. 1980 — WHEREAS, the Development Bank of the Philippines is the government agency entrusted with the task of providing credit facilities for the rehabilitation, development and expansion of the country's agriculture and industry and the broadening and diversification of the national economy;

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Section 1 · Section three (e) of Republic Act No Section 2 Section 3 · This Decree shall take effect immediately

Section 1

Section three (e) of Republic Act No

Section 1. Section three (e) of Republic Act No. 115, as amended, is hereby further amended to read as follows:

"(e) The amount of taxes due to the National Government on income beginning with the calendar year 1978 as well as taxes due on all other transactions of the Bank beginning with the calendar year 1985 is hereby appropriated under this Decree to be automatically applied to the payment of the subscribed capital stock of the government in the Bank."

Section 2

Section 2. All laws, decrees, proclamations, executive orders and ordinances inconsistent with this Decree are hereby modified, amended or repealed accordingly.

Section 3

This Decree shall take effect immediately

Section 3. This Decree shall take effect immediately.

Done in the City of Manila, this 13th day of July, in the year of Our Lord, nineteen hundred and eighty-five.