WHEREAS, in pursuance of the national policy of allowing the private sector to take over enterprises pioneered by the government when the private sector is ready and capable to continue and improve a particular government endeavor and in the interest of the National government, various government performance evaluation and/or study groups have recommended the disposition of all NASSCO properties and units, including the Jose Panganiban Smelting Plant at Jose Panganiban, Camarines Norte.

WHEREAS, under Proclamation No. 500 dated December 23, 1968, a parcel of land situated in the Municipality of Jose Panganiban, Province of Camarines Norte Island of Luzon. Bounded on the W., along lines 1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16, by Mambulao Bay; on the N., along lines 16-17-18-19-20-21, by Forest Reserve; and on the E and S, along lines 21-22-23-24-25-26-27-1 by project No. 2, Block VI (Alien & Disp.) LC-403, containing an area of approximately 170.2890 hectares, more or less, has been withdrawn from sale and settlement and reserved for pier, warehouse and smelting plant site purposes under the administration of the NASSCO;

WHEREAS, as mandated under Republic Act 1396, NASSCO constructed, established and operated in said site a pig iron smelting plant with pier and other plant facilities known as the Jose Panganiban Smelting plant;

WHEREAS, in order to facilitate the disposition of all assets of NASSCO including the Jose Panganiban Smelting Plant, there is a need to transfer ownership of said parcel of land to the NASSCO;

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

SECTION 1. The title to and ownership of that certain parcel of land, situated in the Municipality of Jose Panganiban, Province of Camarines Norte, Island of Luzon,

Presidential Decree No. 837
Transferring Ownership, Parcel of Land at Jose Panganizan, Camarines Norte to NASSCO

bounded on the W., along lines 1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16, by Mambulao Bay; on the N., along lines 16-17-18-19-20-21, by Forest Reserve; and on the E and S, along lines 21-22-23-24-25-26-27-1; by project No. 2, Block VI (Alien & Disp.) LC-403, containing an area of approximately 170.2890 hectares, is hereby transferred to and vested in the NASSCO.

SEC. 2. The said parcel of land herein convoyed shall be resurveyed by the Bureau of Lands within fifteen (15) days from the promulgation cf this Decree to ascertain its actual location and boundaries. Thereafter, the proper Register of Deeds shall register the same and issue the corresponding certificate cf title to the NASSCO.

SEC. 3. Any provision of law, proclamation, ordinance, rules and regulations to the contrary notwithstanding, the NASSCO may transfer absolute ownership of said parcel of land or any portion thereof and convey the same to persons or corporations qualified to acquire land under the Constitution, either through public bidding or through negotiations, as the interest of the government warrants.

SEC. 4. All laws, executive orders, proclamation, rules and regulations or part thereof inconsistent with this Decree are hereby repealed and/or modified accordingly.

SEC. 5. This Decree shall take effect immediately.

Done in the City of Manila, this 6th day of December, in the year of Our Lord, nineteen hundred and seventy-five.