In furtherance of the policy of decentralization and of streamlining the functions of the Office of the President, I, FERDINAND E. MARCOS, President of the Philippines, do hereby order that contracts or transactions, regardless of the amounts involved, which do not entail disbursements of corporate or government funds shall no longer be submitted to the Office of the President for review or approval, the action thereon of the governing boards of government-owned or controlled corporations and heads of departments of government offices in accordance with their respective charters and the laws pertinent thereto being sufficient, unless the law provides otherwise.

The provisions of Memorandum Circulars Nos. 149 and 150, s. 1965, as amended; Executive Order No. 65, s. 1967, as amended; and other orders or rules and regulations in conflict herewith are hereby modified or repealed accordingly.

Done in the City of Manila, this 1st day of March, in the year of Our Lord, nineteen hundred and seventy.


By the President:
(SGD.) ALEJANDRO MELCHOR
Acting Executive Secretary