EXECUTIVE ORDER NO. 360 August 16, 1996
AMENDING EXECUTIVE ORDER NO. 192, SERIES OF 1994, AUTHORIZING THE ESTABLISHMENT OF THE CLARK INTERNATIONAL AIRPORT CORPORATION TO OPERATE AND MANAGE THE CLARK AVIATION COMPLEX
WHEREAS, Executive Order 192, series of 1994, ordered the creation of the Clark International Airport Corporation (CIAC);
WHEREAS, there is a need for the Bases Conversion Development Authority (B ) to be the direct stockholder of the CIAC in compliance with R.A. 7227, particularly Section 4 (d) thereof, which provides that the B will "serve as the holding company of the subsidiary companies created pursuant to Section 16 of this Act";
WHEREAS, there is a need for the B to support and guarantee the financial transactions of the CIAC as its direct stockholder;
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 following:
SECTION 1. Sections 1, 3, 4, 5 and 6 of Executive Order No. 192, s. of 1994, are hereby respectively...
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Executive Orders
Amending Executive Order No. 192, series of 1994, authorizing the establishment of the clark interNational airport corporation to operate and manage the clark aviation complex
Executive Order No. 360
Summary of Executive Order No. 360
Establishment of the Clark International Airport Corporation (CIAC)
- CIAC is authorized to operate and manage the Clark Aviation Complex. (Section 1)
- CIAC shall be a wholly-owned subsidiary corporation of the Bases Conversion Development Authority (BCDA). (Section 1)
- CIAC shall be formed in accordance with the Corporation Code and existing rules and regulations of the Securities and Exchange Commission. (Section 1)
- CIAC shall be subject to the policies, rules and regulations promulgated by the BCDA. (Section 1)
Board of Directors
- The powers of the CIAC shall be vested in and exercised by a Board of Directors composed of not more than eleven (11) members. (Section 3)
- The members representing the equity of the BCDA and other government corporations or agencies in the capital stock of the CIAC shall be nominated by the President of the Philippines. (Section 3)
- Qualifications for Board members: Filipino citizen, of good moral character, and recognized competence in relevant fields including civil aviation, economics, tourism, law or engineering. (Section 3)
Capitalization
- The capitalization of the CIAC shall be determined by the BCDA and shall include: (Section 4)
a. Cash equity to be provided by the BCDA.
b. Portions of government lands embraced and covered by the Clark Aviation Complex, as well as permanent improvements and fixtures therein upon proper inventory.
c. All other assets which the President may transfer to the CIAC as part of the equity contribution of the government.
Transfer of Clark Air Base Proper
- The BCDA shall transfer to the CIAC the permanent improvements and fixtures within the 2,200 hectare area, more or less, covering the Clark Aviation Complex which is a part of the Clark Air Base Proper under Proclamation No. 163, s. of 1993. (Section 5)
Support from Government Agencies
- All heads of departments, bureaus, offices, agencies and instrumentalities of the government are directed to give full support to the Clark International Airport development program and coordinate with the BCDA to facilitate necessary approvals and expedite implementation. (Section 6)
Establishment of the Clark International Airport Corporation (CIAC)
- CIAC is authorized to operate and manage the Clark Aviation Complex. (Section 1)
- CIAC shall be a wholly-owned subsidiary corporation of the Bases Conversion Development Authority (BCDA). (Section 1)
- CIAC shall be formed in accordance with the Corporation Code and existing rules and regulations of the Securities and Exchange Commission. (Section 1)
- CIAC shall be subject to the policies, rules and regulations promulgated by the BCDA. (Section 1)
Board of Directors
- The powers of the CIAC shall be vested in and exercised by a Board of Directors composed of not more than eleven (11) members. (Section 3)
- The members representing the equity of the BCDA and other government corporations or agencies in the capital stock of the CIAC shall be nominated by the President of the Philippines. (Section 3)
- Qualifications for Board members: Filipino citizen, of good moral character, and recognized competence in relevant fields including civil aviation, economics, tourism, law or engineering. (Section 3)
Capitalization
- The capitalization of the CIAC shall be determined by the BCDA and shall include: (Section 4)
a. Cash equity to be provided by the BCDA.
b. Portions of government lands embraced and covered by the Clark Aviation Complex, as well as permanent improvements and fixtures therein upon proper inventory.
c. All other assets which the President may transfer to the CIAC as part of the equity contribution of the government.
Transfer of Clark Air Base Proper
- The BCDA shall transfer to the CIAC the permanent improvements and fixtures within the 2,200 hectare area, more or less, covering the Clark Aviation Complex which is a part of the Clark Air Base Proper under Proclamation No. 163, s. of 1993. (Section 5)
Support from Government Agencies
- All heads of departments, bureaus, offices, agencies and instrumentalities of the government are directed to give full support to the Clark International Airport development program and coordinate with the BCDA to facilitate necessary approvals and expedite implementation. (Section 6)