EXECUTIVE ORDER NO. 150 March 19, 1987
CREATING THE PRESIDENTIAL BLUE RIBBON COMMISSION AND FOR OTHER PURPOSES.
WHEREAS, the resources of government institutions such as the Philippine National Bank, Philippine Veterans Bank, Development Bank of the Philippines, National Development Company, and the Philippine Export and Foreign Loan Guarantee Corporation among others have been dissipated by "behest" loan guarantees, credits and other financial accommodations obtained by persons and corporations associated with former President Ferdinand E. Marcos;
WHEREAS, it is imperative that a thorough investigation be conducted to determine the liability, whether civil or criminal, of individuals and corporations involved in the grant and/or acquisition of these loans and to prosecute those responsible therefor;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by the Constitution of the Republic, do hereby order:
Sec. 1. There is hereby created a Commission, to be known as the Presidential Blue Ribbon Commission, composed of a Chairman and two members.
Sec. 2. The Commission is hereby empowered to admit...
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Executive Orders
Creating the Presidential Blue Ribbon Commission and For Other Purposes.
Executive Order No. 150
EXECUTIVE ORDER NO. 150
Creating the Presidential Blue Ribbon Commission and for Other Purposes
- Establishes the Presidential Blue Ribbon Commission to investigate the circumstances surrounding the grant or approval of loans, guarantees, credits, and other financial accommodations to persons and corporations associated with former President Ferdinand E. Marcos by government-owned or controlled institutions. (Sec. 1, 3)
- The Commission is composed of a Chairman and two members, with the power to:
• Admit other government officials as members and assemble staff from any government office. (Sec. 2)
• Appoint resource persons, investigators, and fiscals from the private sector and government agencies, ensuring they have no connections with the entities under investigation. (Sec. 2)
• Administer oaths and issue subpoenas for witnesses and documents. (Sec. 7a)
• Enjoin or restrain acts that may render the investigation ineffectual. (Sec. 7b)
• Recommend the issuance of hold departure orders against individuals involved in the loans or credits. (Sec. 7c)
• Hold individuals in contempt and impose penalties. (Sec. 7d)
• Enlist aid and support from government offices and deputize law enforcement agencies. (Sec. 7e)
• Exercise other implied or incidental powers to achieve the objectives. (Sec. 7f)
• Adopt and promulgate supplementary rules of procedure. (Sec. 7g)
- The Commission and its members are not subject to civil action for acts done in good faith. (Sec. 8)
- Government officers or employees disclosing information to the Commission are not liable. (Sec. 9)
- Commission members and staff are not required to testify or produce evidence in other proceedings. (Sec. 10)
- The Commission has a Chief Operating Officer, Special Counsel, and may employ non-government personnel on a contractual basis and provide allowances or honoraria to government personnel. (Sec. 11, 13)
- The Commission and the Presidential Commission on Good Government shall coordinate to preserve the latter's authority to recover ill-gotten wealth and prosecute cases related to former President Marcos. (Sec. 12)
- An initial amount of FIVE MILLION PESOS is set aside from the National Treasury for the Commission's expenditures, with additional funds to be provided as necessary. (Sec. 14)
Creating the Presidential Blue Ribbon Commission and for Other Purposes
- Establishes the Presidential Blue Ribbon Commission to investigate the circumstances surrounding the grant or approval of loans, guarantees, credits, and other financial accommodations to persons and corporations associated with former President Ferdinand E. Marcos by government-owned or controlled institutions. (Sec. 1, 3)
- The Commission is composed of a Chairman and two members, with the power to:
• Admit other government officials as members and assemble staff from any government office. (Sec. 2)
• Appoint resource persons, investigators, and fiscals from the private sector and government agencies, ensuring they have no connections with the entities under investigation. (Sec. 2)
• Administer oaths and issue subpoenas for witnesses and documents. (Sec. 7a)
• Enjoin or restrain acts that may render the investigation ineffectual. (Sec. 7b)
• Recommend the issuance of hold departure orders against individuals involved in the loans or credits. (Sec. 7c)
• Hold individuals in contempt and impose penalties. (Sec. 7d)
• Enlist aid and support from government offices and deputize law enforcement agencies. (Sec. 7e)
• Exercise other implied or incidental powers to achieve the objectives. (Sec. 7f)
• Adopt and promulgate supplementary rules of procedure. (Sec. 7g)
- The Commission and its members are not subject to civil action for acts done in good faith. (Sec. 8)
- Government officers or employees disclosing information to the Commission are not liable. (Sec. 9)
- Commission members and staff are not required to testify or produce evidence in other proceedings. (Sec. 10)
- The Commission has a Chief Operating Officer, Special Counsel, and may employ non-government personnel on a contractual basis and provide allowances or honoraria to government personnel. (Sec. 11, 13)
- The Commission and the Presidential Commission on Good Government shall coordinate to preserve the latter's authority to recover ill-gotten wealth and prosecute cases related to former President Marcos. (Sec. 12)
- An initial amount of FIVE MILLION PESOS is set aside from the National Treasury for the Commission's expenditures, with additional funds to be provided as necessary. (Sec. 14)