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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 60 -
TRANSFERRING THE SECURITIES AND EXCHANGE COMMISSION FROM THE DEPARTMENT
OF FINANCE TO THE OFFICE OF THE PRESIDENT
WHEREAS,
this administration is committed to pursue a stronger policy of
encouraging a more active participation of private corporations and
enterprises in the development of the domestic capital market and the
promotion of foreign investments;
WHEREAS, there is a need to have a more efficient and more effective
coordination between the Securities and Exchange Commission (SEC), now
under the supervision of the Department of Finance, and other offices
of government to enable SEC to perform its mandated functions
consistent with this national policy and objective;
WHEREAS, Presidential Decree No. 902-A, the charter of the Securities
and Exchange Commission (SEC), mandates that the said Commission shall
be under the “direct general supervision of the President;”
WHEREAS, Sec. 31, Chapter 10, Title III, Book III of the
Administrative Code of 1987, provides continuing authority in the
President to reorganize the administrative structure of the Office of
the President;
NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the Republic
of the Philippines, by virtue of the powers vested in me by law, do
hereby order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4. Since 19.07.98.
DONE in the City of Manila,
this 13th day of January, in the year of Our Lord, Nineteen Hundred and
Ninety-Nine.
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