WHEREAS, as a continuing instrument of reform under the New Society, public officers are required to submit yearly within the month of January a statement of assets and liabilities; and

WHEREAS, it has been observed that a month is too short a time within which to prepare and submit the required statement of assets and liabilities, especially with respect to public officers who also derive income from farming, poultry, rent, etc., or where the data required in the preparation of the said statement comes from another office, public or private.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby order and decree 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, thereafter, on or before the fifteenth day of April following the close of every calendar year, 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 or before the fifteenth day of April following the close of the said calendar year."

SEC. 2. The provision of this decree shall take effect beginning with the statement of assets and liabilities for the calendar year 1977.

Done in the City of Manila, this 24th day of January, in the year of Our Lord, nineteen hundred and seventy-eight.

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