PRESIDENTIAL DECREE NO. 555, September 16, 1974

[ PRESIDENTIAL DECREE NO. 555, September 16, 1974 ]

AMENDING PRESIDENTIAL DECREE NO. 379 ENTITLED "REQUIRING THE SUBMISSION OF ASSETS, LIABILITIES AND NET WORTH."

I, FERDINAND E. MARCOS , President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby amend Section 9 of Presidential Decree No. 379 dated January 21, 1974, to read as follows:

SEC. 9 . Penalties for failure to File Statement or Rendering False or Fraudulent Statement . —Any person required to file the statement under this decree who knowingly makes a false declaration or who deliberately fails to comply with any of the provisions hereof shall, upon conviction, pay a fine of not more than Five Thousand Pesos and imprisonment of not more than two years.

"If the offense is committed by a juridical person, the Manager or person in charge of the management of the business or affairs thereof shall be responsible therefor and, upon conviction, shall pay a fine of not more than Five Thousand Pesos and imprisonment of not more than two years."

Done in the City of Manila, this 16th day of September, in the year of Our Lord, nineteen hundred and seventy-four.

(Sgd.)

FERDINAND E. MARCOS

President of the Philippines

By the President:

(Sgd.)

ALEJANDRO MELCHOR

Executive Secretary