EXECUTIVE ORDER NO. 294 January 16, 1996
AMENDING EXECUTIVE ORDER NO. 289 (s. 1995) TO PROVIDE ADDITIONAL CONTROL MEASURES TO SAFEGUARD THE INTEREST OF THE GOVERNMENT IN THE LAND TO BE USED FOR THE ESTABLISHMENT OF THE PHILIPPINE TRADE CENTER AND TO ADDRESS THE EXPORT SECTOR'S CONCERNS AND INTERESTS IN ACCORDANCE WITH REPUBLIC ACT. NO. 7844
WHEREAS, Executive Order No. 289 (s. 1995) directs the provision of land for the establishment of the Philippine Trade Center, including the World Trade Center through a long-term lease to the export organization accredited by the Export Development Council in accordance with Section 15 of Republic Act No. 7844, otherwise known as the "Export Development Act of 1994" (EDA);
WHEREAS, it is necessary to institute additional measures to safeguard the interest of the Government in the land to be leased to the EDC-accredited export organization, as well as to address the export sector's concerns and interest;
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Philippines, by virtue vested in me by the Constitution, do hereby order...
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Executive Orders
Amending Executive Order No. 289 (s. 1995) to provide additional control measures to safeguard the interest of the government in the land to be used for the establishment of the philippine trade center and to address the export sector's concerns and interests in accordance with republic act. No. 7844
Executive Order No. 294
Summary of Executive Order No. 294
Amending Executive Order No. 289 to Provide Additional Control Measures for the Philippine Trade Center
- Provides land for the establishment of the Philippine Trade Center and World Trade Center through long-term lease to the export organization accredited by the Export Development Council (EDC) in accordance with Republic Act No. 7844 (Section 1)
• The land consists of 50,642 square meters owned by the National Government, covered by Transfer Certificate of Title No. 34996 registered in the name of the Republic of the Philippines.
• The Department of Trade and Industry and its attached agencies shall be indemnified for fixed improvements on the land that may be demolished or damaged by the Lessee or Sub-Lessee.
- The accredited export organization may enter into a sublease of the land with organizations or firms for setting up the Philippine Trade Center and World Trade Center (Section 4)
• The terms and conditions of the sublease, as well as any charges, shall be subject to the prior approval of the Secretary of the Department of Trade and Industry.
• Revenues earned by the accredited export organization from lease rental and other operations of the Center shall be used solely for the development and promotion of exports in accordance with Republic Act No. 7844.
- The accredited export organization shall be accountable to the EDC for the use of all revenues, including sublease rentals from operations of the Center (Section 5)
• The EDC shall formulate guidelines to ensure the proper utilization of the funds within ninety (90) days from the effectivity of this Order.
• The utilization of sublease revenues shall be subject to a yearly budget review and prior approval by the EDC.
• Single large expenditures, the amount to be determined by the EDC, will be subject to prior approval by the EDC.
• The EDC shall institute appropriate auditing procedures for the use of sublease revenues.
Amending Executive Order No. 289 to Provide Additional Control Measures for the Philippine Trade Center
- Provides land for the establishment of the Philippine Trade Center and World Trade Center through long-term lease to the export organization accredited by the Export Development Council (EDC) in accordance with Republic Act No. 7844 (Section 1)
• The land consists of 50,642 square meters owned by the National Government, covered by Transfer Certificate of Title No. 34996 registered in the name of the Republic of the Philippines.
• The Department of Trade and Industry and its attached agencies shall be indemnified for fixed improvements on the land that may be demolished or damaged by the Lessee or Sub-Lessee.
- The accredited export organization may enter into a sublease of the land with organizations or firms for setting up the Philippine Trade Center and World Trade Center (Section 4)
• The terms and conditions of the sublease, as well as any charges, shall be subject to the prior approval of the Secretary of the Department of Trade and Industry.
• Revenues earned by the accredited export organization from lease rental and other operations of the Center shall be used solely for the development and promotion of exports in accordance with Republic Act No. 7844.
- The accredited export organization shall be accountable to the EDC for the use of all revenues, including sublease rentals from operations of the Center (Section 5)
• The EDC shall formulate guidelines to ensure the proper utilization of the funds within ninety (90) days from the effectivity of this Order.
• The utilization of sublease revenues shall be subject to a yearly budget review and prior approval by the EDC.
• Single large expenditures, the amount to be determined by the EDC, will be subject to prior approval by the EDC.
• The EDC shall institute appropriate auditing procedures for the use of sublease revenues.