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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 816 - PROVIDING
FOR THE ABOLITION OF THE AGRICULTURAL CREDIT ADMINISTRATION AND
TRANSFERRING ITS FUNCTIONS TO THE LAND BANK OF THE PHILIPPINES
WHEREAS,
under the new Republic, national economic development shall be pursued
with renewed dedication and greater determination through a more
efficient, effective, and economical government;
WHEREAS, there is need for a more integrated approach to certain
aspects of the agrarian reform program, particularly in the design and
implementation by government corporations of their financial and
extension programs;
WHEREAS, to effectively attain this integration, a single institutional
mechanism is preferable to improve upon the utilization of available
resources for the provision of adequate and timely financial assistance
to the beneficiaries of the agrarian reform program, and to enable
financial assistance to be provided on a more integrated basis;
WHEREAS, it is not generally desirable to have separate government
corporate entities providing less risky and more risky loans to the
same borrowing clientele;
WHEREAS, under Presidential Decree No. 1416 as amended, the President
is empowered to undertake such organizational and related improvements
as may be appropriate in the light of changing circumstances and new
developments;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution and the
authority vested in me by Presidential Decree No. 1416 as amended, do
hereby order and ordain:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
Sec. 7.
Done in the City of Manila,
this 8th day of July, in the year of Our Lord, nineteen hundred and
eighty-two.
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Since 19.07.98.