WHEREAS, the program of reform in the Government under the New Society has been endorsed overwhelmingly by the people in the referendum held on February 27, 1975; and

WHEREAS, as a continuing instrument of the reform program and in consonance with the dictum that the life of a public officer is an open book and subject to scrutiny, all government officials and employees must account at frequent intervals their financial position in order that they will be beyond suspicion and reproach.

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

SECTION 1. Section 7 of Republic Act No. 3019, as amended, is further amended to read as follows:

"SEC. 7. Statement of assets and liabilities.—Every public officer, within thirty days after assuming office, and within the month of January of every year thereafter, as well as upon the expiration of his term of office, or upon his resignation or separation from office, shall prepare and file with the office of the corresponding Department Head, or in the case of a Head of Department or Chief of an independent office, with the Office of the President, a true detailed and sworn statement of assets and liabilities, including a statement of the amounts and sources of his income, the amounts of his personal and family expenses and the amount of income taxes paid for the next preceding calendar year; Provided, That public officers assuming office less than two months before the end of the calendar year, may file their first statement, on the following month of January."

SEC. 2. The provision of this Decree shall take effect beginning January, 1976, for the statement pertaining to the calendar year 1975.

Done in the City of Manila, this 31st day of March, in the year of Our Lord, nineteen hundred and seventy-five.