EXECUTIVE ORDER NO. 739 October 3, 1981
CREATING A DEBT CLEARING OFFICE TO EFFECT THE JUDICIOUS SETTLEMENT OF OBLIGATIONS SUBSISTING BETWEEN AND AMONG NATIONAL GOVERNMENT OFFICES AND INSTRUMENTALITIES, GOVERNMENT-OWNED OR CONTROLLED CORPORATIONS, LOCAL GOVERNMENT UNITS AND PRIVATE INDIVIDUALS OR CORPORATIONS
WHEREAS, the Joint Committee on Financial Management Improvement Program which was previously constituted as a Debt Clearing Committee under Executive Order No. 312, dated April 23, 1971, to undertake the settlement of inter-government obligations had been abolished;
WHEREAS, receivable and payable accounts in the books of government agencies and instrumentalities have considerably increased and thus affected their financial operations;
WHEREAS, there is an imperative need to continue the prompt and effective settlement of inter-government obligations, including indebtedness due to and from private individuals and corporations;
WHEREAS, to insure the prompt and effective settlement of these accounts, it is necessary to maintain a close and continuing coordination among the government agencies, instrumentalities and the private sector concerned;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines by virtue...
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Executive Orders
Creating a Debt Clearing Office to Effect the Judicious Settlement of Obligations Subsisting Between and Among National Government Offices and Instrumentalities, Government-Owned or Controlled Corporations, Local Government Units and Private Individuals or Corporations
Executive Order No. 739
EXECUTIVE ORDER NO. 739
Purpose: Creating a Debt Clearing Office to effect the judicious settlement of obligations subsisting between and among national government offices and instrumentalities, government-owned or controlled corporations, local government units and private individuals or corporations.
• Functions and Responsibilities of the Debt Clearing Office (Sec. 1):
- Gather data on subsisting obligations directly from government agencies, offices, corporations or individuals concerned. (Sec. 1(1))
- Review, analyze, reconcile and confirm the data gathered, and submit recommendations to the Chairman, Commission on Audit, for the offsetting or settlement of the accounts in accordance with the provisions of Republic Act No. 3871 and GAO General Circular No. 91, dated November 11, 1964. (Sec. 1(2))
- Determine fund sources necessary for the settlement of the accounts and undertake measures for the provision thereof. (Sec. 1(3))
- Prepare the implementing rules and regulations needed for the efficient discharge of its functions and responsibilities. (Sec. 1(4))
- Render periodic accomplishments reports to the Minister of Finance and to the Chairman, Commission on Audit. (Sec. 1(5))
- Perform such other functions as are necessary to achieve the purpose of this Order. (Sec. 1(6))
• Authority to Seek Assistance (Sec. 2):
- The Debt Clearing Office is authorized to seek the assistance of any government agency or instrumentality whenever necessary.
• Funding (Sec. 3):
- Initial funding for the operations of the Debt Clearing Office shall be charged against the Special Activities Fund.
- Thereafter, the amount needed for the operations of the Debt Clearing Office shall be incorporated in the General Appropriations Act.
• Repealing Clause (Sec. 4):
- All laws, decrees, charters, executive orders, administrative orders, proclamations, rules and regulations, or parts thereof, which are in conflict with the provisions of this Executive Order are hereby repealed or modified accordingly.
• Effectivity (Sec. 5):
- This Order shall take effect immediately.
Purpose: Creating a Debt Clearing Office to effect the judicious settlement of obligations subsisting between and among national government offices and instrumentalities, government-owned or controlled corporations, local government units and private individuals or corporations.
• Functions and Responsibilities of the Debt Clearing Office (Sec. 1):
- Gather data on subsisting obligations directly from government agencies, offices, corporations or individuals concerned. (Sec. 1(1))
- Review, analyze, reconcile and confirm the data gathered, and submit recommendations to the Chairman, Commission on Audit, for the offsetting or settlement of the accounts in accordance with the provisions of Republic Act No. 3871 and GAO General Circular No. 91, dated November 11, 1964. (Sec. 1(2))
- Determine fund sources necessary for the settlement of the accounts and undertake measures for the provision thereof. (Sec. 1(3))
- Prepare the implementing rules and regulations needed for the efficient discharge of its functions and responsibilities. (Sec. 1(4))
- Render periodic accomplishments reports to the Minister of Finance and to the Chairman, Commission on Audit. (Sec. 1(5))
- Perform such other functions as are necessary to achieve the purpose of this Order. (Sec. 1(6))
• Authority to Seek Assistance (Sec. 2):
- The Debt Clearing Office is authorized to seek the assistance of any government agency or instrumentality whenever necessary.
• Funding (Sec. 3):
- Initial funding for the operations of the Debt Clearing Office shall be charged against the Special Activities Fund.
- Thereafter, the amount needed for the operations of the Debt Clearing Office shall be incorporated in the General Appropriations Act.
• Repealing Clause (Sec. 4):
- All laws, decrees, charters, executive orders, administrative orders, proclamations, rules and regulations, or parts thereof, which are in conflict with the provisions of this Executive Order are hereby repealed or modified accordingly.
• Effectivity (Sec. 5):
- This Order shall take effect immediately.