EXECUTIVE ORDER NO. 127-A
EXECUTIVE ORDER NO. 127-A -
CREATING THE CORPORATE AFFAIRS GROUP AND FOR THE PURPOSES
WHEREAS,
the proliferation of corporations and assets owned, controlled or
acquired by the government has caused one of the most serious financial
problems of the national government;
WHEREAS, the rationalization, privatization and public accountability
of such corporations and assets is now a primary national objective and
a primary function of the Department of Finance which is to play a
central role in the attainment of this objective;
WHEREAS, the appropriate organization for this function was not
provided in Executive Order No. 127, Series of 1987 reorganizing the
Ministry of Finance;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by
virtue of the powers vested in me by the sovereign will of the Filipino
people and the Constitution, do hereby order:
Section 1. Section 12 of Executive Order No. 127,
Series of 1987 is hereby amended, to include paragraph (d), to read as
follows:
“d)
Corporate Affairs Group composed of the following:
(1)
Corporate Concern Office;
(2) Policy and
Program Coordination Office; and
(3)
Privatization Office”
Sec. 2. Executive Order No. 127, Series of 1987 is
hereby amended to include new sections to be known as Section s 53-59 to
read as follows:
“Sec.
53. Corporate Concerns Office. — The Corporate
Concerns Office, headed by a Director shall have the following
functions:
(a)
Provide assistance to the Department of Finance in the exercise of its
role in the Government Corporate Monitoring and Coordinating Committee;
(b) Provide
assistance to the Department relating to the operations of government
corporations; and
(c) Perform
such other functions as may be assigned by the Secretary and
Undersecretaries of Finance.
Sec.
54. Composition. — The Corporate Concerns Office
shall be composed of the following:
(a)
Government Financial Institution Division;
(b) Public
Utilities Division;
(c)
Agricultural/Industrial/Area Development Institutions Divisions; and
(d)
Trading/Cultural/Scientific Institutions Division.
Sec.
55. Policy and Program Coordination Office. — The
Policy Program Coordination office, headed by a Director shall have the
following functions:
(a)
Formulate the policies of the Department of Finance affecting
government corporate sector consistent with the National Government
Plan;
(b) Coordinate
with offices within the Department as well as with other government
departments in the adoption of an integrated fiscal and financial plan
and program for the National Government;
(c) Conduct
studies and researches necessary for the efficient and effective
implementation of such policies; and
(d) Perform
such other functions as may be assigned by the Secretary and
Undersecretaries of Finance.
Sec.
56. Composition. — The Policy and Program
Coordination Office shall be composed of the following:
(a)
Policy Research and Formulation Division; and
(b) Program
Implementation Division.
Sec.
57. Privatization Office. — The Privatization Office,
to be headed by a Director, shall have the following functions:
(a)
Provide assistance to the Secretary of Finance in the exercise of his
functions as Chairman of the Committee on Privatization;
(b) Provide
assistance to the Secretary of Finance in the evaluation and review of
the issues involved in the prospective privatization or disposal of
government corporate assets;
(c) Assess the
financial and socioeconomic impact of the privatization or disposal of
corporate assets;
(d) Perform
other such functions as may be assigned by the Secretary and
Undersecretaries of Finance.
Sec.
58. Composition. — The Privatization Office shall be
composed as follows:
(a)
Appraisal and Evaluation Division; and
(b) Issues and
Procedures Division.
Sec.
59. Support Services and Staffs. — The Undersecretary
for Corporate Affairs shall be directly assisted by support services
and staffs, as follows:
(a)
Government Corporate Databank Service;
(b)
Administrative Staff; and
(c) Committee
on Privatization Secretariat.”
Accordingly,
Section s 53-68 of Executive Order No. 127 are hereby renumbered as
Section s 60-75.
Sec. 3. Separability. — Any portion or provision
of this Executive Order that may be declared unconstitutional shall not
have the effect of nullifying other portions or provisions hereof as
long as such remaining portions or provisions can still subsist and be
given effect in their entirety.
Sec. 4. Repealing Clause. — All laws, ordinances,
rules, regulations and other issuances or parts thereof, which are
inconsistent with this Executive Order are hereby repealed or modified
accordingly.
Sec. 5. Effectivity. — This Executive Order shall
take effect immediately upon its approval.
APPROVED in the City of Manila,
Philippines, this 22nd day of July, in the year of Our Lord, nineteen
hundred and eighty-seven.
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Since 19.07.98.