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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 739 - CREATING
A DEBT CLEARING OFFICE TO EFFECT THE JUDICIOUS SETTLEMENT OF
OBLIGATIONS SUBSISTING BETWEEN AND AMONG NATIONAL GOVERNMENT OFFICES
AND INSTRUMENTALITIES, GOVERNMENT-OWNED OR CONTROLLED CORPORATIONS,
LOCAL GOVERNMENT UNITS AND PRIVATE INDIVIDUALS OR CORPORATIONS
WHEREAS, the Joint Committee on
Financial Management Improvement Program which was previously
constituted as a Debt Clearing Committee under Executive Order No. 312,
dated April 23, 1971, to undertake the settlement of inter-government
obligations had been abolished;
WHEREAS, receivable and payable accounts in the books of government
agencies and instrumentalities have considerably increased and thus
affected their financial operations;
WHEREAS, there is an imperative need to continue the prompt and
effective settlement of inter-government obligations, including
indebtedness due to and from private individuals and corporations;
WHEREAS, to insure the prompt and effective settlement of these
accounts, it is necessary to maintain a close and continuing
coordination among the government agencies, instrumentalities and the
private sector concerned;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines by
virtue of the powers vested in me by law, do hereby order the creation
of a Debt Clearing Office under the administration of the Treasurer of
the Philippines to effect the settlement of obligations subsisting
between and among national government offices and instrumentalities,
government-owned or controlled corporations, local government units and
private individuals or corporations.
Section 1.
(1)
(2)
(3)
(4)
(5)
(6)
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5. Since 19.07.98.
Done in the City of Manila,
this 3rd day of October, in the year of Our Lord, nineteen hundred and
eighty-one.
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