LETTER OF INSTRUCTION NO. 338, November 18, 1975

[ LETTER OF INSTRUCTION NO. 338, November 18, 1975 ]

TO: The General Manner Government Service Insurance System

The Administrator Social Security System

In the implementation of Presidential Decree No. 745 dated July 15, 1975 authorizing the liberalization of financing and credit terms for low-cost housing to be undertaken by domestic corporations and partnerships with at least three hundred (300) employees or workers, exclusively for such employees and workers, the following guidelines shall be observed:

the interest rates mi the loans granted shall not exceed six (6%) per cent per annum; and

repayment period shall be twenty-five (25) years.

Immediate implementation and compliance with this Letter of Instruction is desired.

Done in the City of Manila, this 18th day of November, nineteen hundred and seventy-five.

29 VITAL LEGAL DOCUMENTS, 56 (1976 —)