Amending Presidential Decree No. 977 Creating the Philippine Fish Marketing Authority, Defining Its Functions and Powers, and for Other Purposes

Case Overview and Summary

Summary of Executive Order No. 772

Amending Presidential Decree No. 977 on the Philippine Fish Marketing Authority

- Creation of the Philippine Fisheries Development Authority (the "Authority"):
• A body corporate attached to the Ministry of Natural Resources. (Section 1)

- Functions and Powers of the Authority:
• Manage, operate, and develop the Navotas Fishing Port Complex and other fishing port complexes. (Section 2a)
• Identify sites and prepare plans for establishing fishing port complexes, including infrastructure facilities. (Section 2b)
• Supervise enterprises within fishing port complexes under its jurisdiction. (Section 2c)
• Acquire, maintain, operate equipment like vessels, fishing gear, refrigerated trucks, ice plants, etc. (Section 2d)
• Assess and collect fees, tolls, charges, rentals for use of property, equipment, facilities, and services. (Section 2e)
• Formulate and implement rules on business activities inside fishing port complexes. (Section 2f)
• Contract indebtedness and issue bonds with approval. (Section 2g)
• Acquire, hold and dispose of real and personal property. (Section 2h)
• Have perpetual succession, adopt corporate seal, sue and be sued, enter into contracts, exercise general corporate powers. (Section 2i, 2j)
• Exercise the right of eminent domain. (Section 2k)
• Perform necessary acts to carry out the purposes of the Decree. (Section 2l)

- Capitalization and Sinking Fund:
• Authorized capital stock of 500 million Philippine Pesos, fully subscribed by the Republic of the Philippines. (Section 3)
• Paid-in capital includes net assets, 1981 appropriations balance, and 1982 appropriations. (Section 3a, 3b, 3c)
• Authorized to establish a sinking fund from revenues and corporate funds to meet obligations. (Section 3)

- Board of Directors:
• Composed of Ministers or their deputies from various ministries and two private sector representatives appointed by the President. (Section 4)
• Private sector representatives serve 4-year terms, initially staggered at 2 and 4 years. (Section 4)

- Navotas Fishing Port Complex and Other Fishing Port Complexes:
• Navotas Fishing Port Complex transferred to and under exclusive jurisdiction of the Authority. (Section 5)
• Other fishing port complexes may be established by the Board with Presidential approval. (Section 5)
• National Food Authority responsible for efficient and non-exclusive fish marketing, with access to fishing port complexes for cold storage, procurement, distribution, and transport facilities. (Section 5)
• The Authority and National Food Authority may enter into agreements on management of activities in fishing port complexes. (Section 5)

- Contractual Obligations:
• The Authority shall continue to meet its present contractual obligations, including loan agreements. (Section 6)

- Repealing Clause and Separability Clause included. (Sections 7 and 8)

- Effectivity:
• This Executive Order shall take effect immediately. (Section 9)