PRESIDENTIAL DECREE NO. 906, March 19, 1976

[ PRESIDENTIAL DECREE NO. 906, March 19, 1976 ]

AMENDING SECTION 2 OF PRESIDENTIAL DECREE No. 454 ENTITLED AMENDING THE PROVISIONS OF SECTION 10 (b) OF REPUBLIC ACT No. 5979 TO AUTHORIZE ADJUSTMENT OF CONTRACT PRICES FOR GOVERNMENT PROJECTS UNDER CERTAIN CONDITIONS.

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

SECTION 1 . Section 2 of Presidential Decree No. 454 is hereby amended to read as follows:

" SEC. 2 . Notwithstanding the provisions of Section 8 hereof, the initial adjustment of contract prices of projects covered by this Decree shall not be earlier than six (6) months after the date of bidding. Readjustments on the unit prices shall be made every six months thereafter."

Done in the City of Manila in this 19th day of March, in the year of Our Lord nineteen hundred and seventy-six.

(Sgd.)

FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.)

JACOBO C. CLAVE

Presidential Executive Assistant