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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 455 -
WHEREAS,PURSUANT TO SECTION 132 (e) OF REPUBLIC ACT NO. 7653, THE
CENTRAL BANK BOARD OF LIQUIDATORS (CB-BOL) HAS THE RESPONSIBILITY OF
ADMINISTERING, DISPOSING OF AND LIQUIDATING ALL ASSETS AND LIABILITIES
OF THE CENTRAL BANK OF THE PHILIPPINES NOT TRANSFERRED TO OR ASSUMED BY
THE BANGKO SENTRAL NG PILIPINAS (BSP);
WHEREAS,
Executive Order No. 169, series of 1994, prescribed that the Board
shall be composed of a chairman and two members;
WHEREAS, it is desirable that the composition of the Board shall be
reconstituted and that the members thereof including the Chairman be
increased to five;
NOW, THEREFORE, I FIDEL V. RAMOS, President of the Republic of the
Philippines, by virtue of the powers vested in me by law, do hereby
order the amendment of Executive Order No. 169, series of 1994, as
follows:
Section 1.
“SEC.
3.
a.
b.
c.
d.
e.
“They
shall be appointed by, and shall serve at the pleasure of the
President.”
Sec. 2.
“SEC.
5.
“The presence of three (3)
Members shall constitute a quorum: Provided, That all decisions of the
Board shall require the concurrence of at least three (3) Members.”
Sec. 3.
“SEC.
9.
“The BSP shall, upon request by
the Board, detail or assign such number of its personnel which may be
necessary for the Board to discharge its functions pursuant to Section 132 (e) of Republic Act No. 7653 and this Executive Order.”
“The Board may likewise engage
the services of qualified professionals as consultants subject to
existing laws, rules and regulations.”
Sec. 4. Since 19.07.98.
DONE in the City of Manila,
this 11th day of November, in the year of Our Lord, Nineteen Hundred
and Ninety-Seven.
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