WHEREAS, pursuant to Section 12 of Article XVII of the 1973 Constitution, as amended, and other pertinent provisions of the said Constitution, Presidential Decree No. 1677-A was promulgated on February 19, 1980, to provide for a system of review of all contracts, concessions, permits or other forms of privilege for the exploration, development, exploitation or utilization of natural resources; all franchises for public utilities; foreign exchange borrowings converted into pesos, otherwise known as Central Bank rediscounting arrangements; titles to land; and other forms of contract entered into by the government or any of its subdivisions, agencies or instrumentalities, including government-owned or controlled corporations;

WHEREAS, it is proper and necessary that the system of review by the President of contracts, franchises, permits and other forms of state grant, as prescribed under Presidential Decree No. 1677-A, dated February 19, 1980, be continued;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:

SECTION 1. The President of the Philippines shall continue to exercise, as provided in Section 1 of Presidential Decree No. 1677-A, the power to review all contracts, concessions, permits and other forms of privilege for the exploration, development, exploitation or utilization of natural resources; all franchises for public utilities; foreign exchange borrowings converted into pesos, otherwise known as swaps; Central Bank rediscounting arrangements; titles to land; construction and architectural design contracts; and other forms of contract entered into by the government or any of its subdivisions, agencies or instrumentalities, including government-owned or controlled corporations.

SEC. 2. All the provisions of Section 2 of Presidential Decree No. 1677-A shall continue in full force and effect until modified or repealed by the President.

SEC. 3. All laws, decrees, orders, rules and regulations which are in conflict or inconsistent with the provisions of this decree are hereby repealed or modified accordingly.

SEC. 4. This decree shall take effect immediately.

Done in the City of Manila, this 16th day of January, in the year of Our Lord, nineteen hundred and eighty-one.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.) JUAN C. TUVERA
		Presidential Executive Assistant

Vol. 25, Vital Documents, Presidential Decree 1980-1981