EXECUTIVE ORDER NO. 629 - ABOLISHING THE REPARATIONS COMMISSION AND TRANSFERRING ITS REMAINING ACTIVITIES TO THE DEVELOPMENT BANK OF THE PHILIPPINES

WHEREAS, the Japanese war reparations agreement has already terminated;

WHEREAS, the collection of accounts receivable can be done effectively by the Development Bank of the Philippines, which is, at present, actually collecting payments for disposed reparation goods;

WHEREAS, the President has continuing authority under Presidential Decree No. 1416 to reorganize the administrative structure of the National Government;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, and pursuant to Presidential Decree No. 1416, do hereby order:  

1. The Reparation Commission is hereby abolished and the responsibility for collection of accounts receivable from the end-users of reparation goods is hereby transferred to the Development Bank of the Philippines.

2. All pertinent records of the Commission are hereby transferred to the Development Bank of the Philippines.

3. The liquidation of assets and liabilities of the Reparation Commission shall be undertaken by the Board of Liquidators.

4. This Order shall take effect on December 31, 1980.