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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 405 - VESTING
IN THE LAND BANK OF THE PHILIPPINES THE PRIMARY RESPONSIBILITY TO
DETERMINE THE LAND VALUATION AND COMPENSATION FOR ALL LANDS COVERED
UNDER REPUBLIC ACT NO. 6657, KNOWN AS THE COMPREHENSIVE AGRARIAN
REFORM LAW OF 1988
WHEREAS,
Republic Act No. 6657, Chapter VI, provides in part that:
“Sec.
17.
Sec. 18.
WHEREAS, the Land Bank of the Philippines employs commercial banking personnel whose professional expertise includes appraisal of agricultural properties for purposes of granting loans;
WHEREAS, the implementation of the Comprehensive Agrarian Reform Program, particularly on the matter of acquisition and distribution of private agricultural lands, may be accelerated by streamlining certain administrative procedures in land valuation and compensation;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
Section 1.
After effecting the transfer of titles from the landowner to the
Republic of the Philippines, the Land Bank of the Philippines shall
inform the Department of Agrarian Reform of such fact in order that the
latter may proceed with the distribution of the lands to the qualified
agrarian reform beneficiaries within the time specified by law.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
DONE in the City of Manila,
this 14th day of June, in the year of Our Lord, nineteen hundred and
ninety.
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