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ADMINISTRATIVE ORDERS

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ADMINISTRATIVE ORDER NO. 241

ADMINISTRATIVE ORDER NO. 241 - AMENDING ADMINISTRATIVE ORDER NO. 43, S. OF 1987, ENTITLED "AUTHORIZING THE ASSET PRIVATIZATION TRUST TO DISPOSE OFF PROPERTIES RECOVERED BY THE PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT" AND FOR OTHER PURPOSES

I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:

1. The Asset Privatization Trust, hereinafter referred to as the Trust, shall transfer to the Presidential Commission on Good Government (PCGG) control and disposal responsibility of assets, shares of stocks, and such other properties referred to in paragraph 1(a) of Administrative Order (AO) No. 43, s. of 1987, recovered from, turned over by, or pertaining to, Mr. Jose Y. Campos. 

2. The PCGG shall, in relation to such assets, shares of stocks, and other properties, exercise such powers or perform such functions, as defined in AO No. 231, s. of 1991.

3. The Trust's control and administrative responsibilities over the properties covered hereby are terminated upon the actual and/or constructive transfer of such properties to PCGG.

4. Administrative Order No. 43 and similar issuances inconsistent herewith are hereby repealed or modified accordingly.

This Administrative Order shall take effect immediately. 

Done in the City of Manila, this 4th day of October, in the year of Our Lord, nineteen hundred and ninety one.

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Since 19.07.98.