EXECUTIVE ORDER NO. 465
EXECUTIVE ORDER NO. 465 - PROVIDING
FOR THE ABOLITION OF CERTAIN GOVERNMENT CORPORATIONS, GRANTING THE
BOARD OF LIQUIDATORS CERTAIN POWERS AND AUTHORITIES RELATIVE THERETO,
AND FOR OTHER PURPOSES
WHEREAS,
the abolition of certain government-owned or controlled corporations
has been recommended by the Department of Budget and Management,
pursuant to its mandate under Executive Order No. 165, series of 1987
and Executive Order No. 5, Series of 1986;
WHEREAS, the Secretary of Justice in his Opinion No. 210, series of
1988, declares that the President of the Philippines “may, in the
implementation of the privatization program of the government, amend or
repeal the charter of government-owned or controlled corporations to
her delegated legislative authority under Sec. 22 of Proclamation
No. 50, which remains to be operative until it is amended, repealed or
revoked by Congress (Sec. 3, Art. XVIII, Constitution)”;
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. Abolition. — The following are hereby
abolished:
(a)
Philippine Dendro Gasifier, Inc.
(b) National
Dendro Development Corporation
(c) Museum of
Philippine Costumes
(d) Leyte
Sab-a Basin Development Authority
(e) Philippine
National Lines
The National Youth and Sports Development Foundation of the Philippines
is hereby deemed abolished in accordance with Sec. 25 of Republic
Act No. 6847.
Sec. 2. Board of Liquidators. — Subject to Sec. 3, 4, 5, 6, 7, 8 and 9 hereof, the Board of Liquidators shall implement
the abolition of the foregoing entities in accordance with the
provisions of Executive Order No. 372, Series of 1950, and, pursuant
thereto, shall subject to the provisions of existing laws and with the
approval of the President of the Philippines, lease, sell, assign,
transfer or otherwise dispose the funds, properties, developmental
projects, and other assets of the corporations therein abolished, in
accordance with the following:
(a)
When any of such properties, developmental projects and other assets
are transferred, for archival purposes or for administration,
continuance of project or use, to any department, bureau, office,
agency or instrumentality of the government, the funds necessary
therefor shall be taken from the unexpended balances of the National
Treasury;
(b) The
proceeds from the lease, sale, assignment, transfer or disposition
herein authorized as well as the funds of the abolished corporations
shall be used to settle their pending obligations pursuant to the
priorities established by law and, thereafter, the expenses reasonably
incurred by the Board of Liquidators in accomplishing the purposes of
this Section : Provided, that the remaining balance of such proceeds, if
any, shall be remitted to the National Treasury as part of the General
Fund;
(c) If the
assets of any of the abolished corporations are not sufficient to pay
its liabilities, payment thereof shall be in accordance with the
provisions of the Civil Code of the Philippines on the concurrence and
preference of credits. The Board of Liquidators shall perform such
powers and functions incidental, necessary or essential for the
accomplishment of the purposes of this Section and such other powers
and functions as may be appropriately assigned to it by the President
of the Philippines for the efficient and effective implementation of
this Executive Order.
Sec. 3. Personnel, Appropriations, Funds. — The
personnel of the abolished government-owned or controlled corporations
shall receive the termination benefits that they may be entitled to
under pertinent laws, rules and regulations; while the appropriations
and funds, if any, of such corporations shall revert, net of
liabilities, to the General Fund.
Sec. 4. Notice or Consent Requirement. — If any
organizational change that may result from the abolitions herein
prescribed is of such substance or materiality as to prejudice third
persons with rights recognized by law or contract such that notice to
or consent of creditors is required to be made or obtained pursuant to
any agreement entered into with any of such creditors, such notice or
consent requirement shall be complied with prior to the implementation
of such organizational change.
Sec. 5. Supervision and Periodic Reports. — As to
its performance of the authorities, powers and functions herein granted
to it, the Board of Liquidators shall be supervised by the Department
of Budget and Management and shall submit to the latter periodic
reports of such performance.
Sec. 6. Abolition of Philippine National Lines. —
The National Development Company shall be the disposition entity to
implement the abolition of the Philippine National Lines, under the
supervision of the Committee of Privatization to which the National
Development Company shall submit its plans and the schedule for said
abolition. The National Development Company shall have the same powers
and functions as the Board of Liquidators under Sec. 2 hereof and
subject to the same limitations and conditions provided thereunder,
except that in case of lease, sale, assignment, transfer or disposition
of the funds, properties, developmental projects and other assets of
the Philippine National Lines the approval thereof shall be by the
Committee on Privatization.
Sec. 7. Separability. — Any portion or provision
of this Executive Order that may be declared unconstitutional or
invalid 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. 8. Repeal. — The following are hereby deemed
repealed:
(a)
Executive Order No. 871, Series of 1983, concerning the Philippine
Dendro Gasifier, Inc.;
(b) Executive
Order No. 662, Series of 1981, concerning the National Dendro
Development Corporation;
(c)
Presidential Decree No. 1349, Series of 1978, concerning the Museum of
Philippine Costumes;
(d)
Presidential Decree No. 1289, Series of 1978, concerning the National
Youth and Sports Development Foundation of the Philippines;
(e)
Presidential Decree No. 625, Series of 1974, concerning the Leyte Sab-a
Basin Development Authority;
(f)
Presidential Decree No. 900, Series of 1976, concerning the Philippine
National Lines.
All other laws, rules, regulations and other administrative issuances
or parts thereof, contrary to or inconsistent herewith, are hereby
repealed or modified accordingly.
Sec. 9. Effectivity. — This Executive Order shall
take effect upon its approval, subject to its publication in the
Official Gazette or in a national newspaper of general circulation.
DONE in the City of Manila,
this 13th day of June, in the year of Our Lord, nineteen hundred and
ninety-one.
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Since 19.07.98.