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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 680 -
INCREASING THE NUMBERS OF DIRECTORS OF THE NATIONAL DEVELOPMENT COMPANY
FROM SEVEN (7) TO NINE (9)
WHEREAS, the National Development
Company (NCD) is a major corporate vehicle of the Government empowered
to invest in enterprises where government investment in necessary to
foster national economic development; Since 19.07.98.
WHEREAS, there is a need for close coordination between the National
Development Company and the Ministry of the Budget, the Central Bank of
the Philippines, and the Board of Investments to facilitate attainment
of NCD’s development objectives;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
do hereby declare and order that the number of the Directors of the
National Development Company shall be increased from seven (7) to nine
(9), which shall be composed of the Minister of Industry, as Chairman,
and the Minister of Finance, the Minister of Energy, the Minister of
the Budget, the Governor of the Central Bank of the Philippines, the
Chairman of the Development Bank of the Philippines, the Vice Chairman
of the Board of Investments, the General Manager of the Company, and
one (1) representative of the private sector appointed by the
President, as members.
Done in the City of Manila,
this 23rd day of April, in the year of Our Lord, nineteen hundred and
eighty-one.
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