Creating the Corporate Affairs Group and For the Purposes

EXECUTIVE ORDER NO. 127-A July 22, 1987

CREATING THE CORPORATE AFFAIRS GROUP AND FOR THE PURPOSES

WHEREAS, the proliferation of corporations and assets owned, controlled or acquired by the government has caused one of the most serious financial problems of the national government;

WHEREAS, the rationalization, privatization and public accountability of such corporations and assets is now a primary national objective and a primary function of the Department of Finance which is to play a central role in the attainment of this objective;

WHEREAS, the appropriate organization for this function was not provided in Executive Order No. 127, Series of 1987 reorganizing the Ministry of Finance;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by the sovereign will of the Filipino people and the Constitution, do hereby order:

Sec. 1. Section 12 of Executive Order No. 127, Series of 1987 is hereby amended, to include paragraph (d), to read as follows:

"d) Corporate Affairs Group composed of...

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Summary of Executive Order No. 127-A

Creation of Corporate Affairs Group (Sec. 1)
- Amends Section 12 of Executive Order No. 127 to include the Corporate Affairs Group.
- The Corporate Affairs Group consists of:
    1. Corporate Concerns Office (Sec. 53)
        - Headed by a Director.
        - Functions:
            a. Assist the Department of Finance in the Government Corporate Monitoring and Coordinating Committee. (Sec. 53a)
            b. Assist the Department relating to the operations of government corporations. (Sec. 53b)
            c. Perform other functions assigned by the Secretary and Undersecretaries of Finance. (Sec. 53c)
        - Composition (Sec. 54):
            a. Government Financial Institution Division
            b. Public Utilities Division
            c. Agricultural/Industrial/Area Development Institutions Divisions
            d. Trading/Cultural/Scientific Institutions Division
    2. Policy and Program Coordination Office (Sec. 55)
        - Headed by a Director.
        - Functions:
            a. Formulate policies of the Department of Finance affecting government corporate sector consistent with the National Government Plan. (Sec. 55a)
            b. Coordinate with offices within the Department and other government departments in adopting an integrated fiscal and financial plan and program for the National Government. (Sec. 55b)
            c. Conduct studies and researches necessary for efficient and effective implementation of such policies. (Sec. 55c)
            d. Perform other functions assigned by the Secretary and Undersecretaries of Finance. (Sec. 55d)
        - Composition (Sec. 56):
            a. Policy Research and Formulation Division
            b. Program Implementation Division
    3. Privatization Office (Sec. 57)
        - Headed by a Director.
        - Functions:
            a. Assist the Secretary of Finance in the Committee on Privatization. (Sec. 57a)
            b. Assist the Secretary of Finance in evaluating and reviewing issues involved in prospective privatization or disposal of government corporate assets. (Sec. 57b)
            c. Assess the financial and socioeconomic impact of the privatization or disposal of corporate assets. (Sec. 57c)
            d. Perform other functions assigned by the Secretary and Undersecretaries of Finance. (Sec. 57d)
        - Composition (Sec. 58):
            a. Appraisal and Evaluation Division
            b. Issues and Procedures Division

Support Services and Staffs (Sec. 59)
- The Undersecretary for Corporate Affairs shall be directly assisted by:
    a. Government Corporate Databank Service
    b. Administrative Staff
    c. Committee on Privatization Secretariat

Other Provisions
- Separability clause (Sec. 3)
- Repealing clause for inconsistent laws (Sec. 4)
- Immediate effectivity (Sec. 5)