Directing the Chairman of the Commission on Audit to Make an Examination Into the Business Affairs, Administration and Condition of Payors of the Coconut Consumers Stabilization Fund Levy and of Manufacturers of Subsidized Coconut-Based Products
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Directing the Chairman of the Commission on Audit to Make an Examination Into the Business Affairs, Administration and Condition of Payors of the Coconut Consumers Stabilization Fund Levy and of Manufacturers of Subsidized Coconut-Based Products
Executive Order No. 504
May 31, 1978
Case Overview and Summary
Summary of Executive Order No. 504Purpose of the Order
- To direct the Chairman of the Commission on Audit to conduct an examination into the business affairs, administration, and condition of payors of the Coconut Consumers Stabilization Fund (CCSF) levy and manufacturers of subsidized coconut-based products. (Entire order)
Background and Rationale
- The CCSF is a mechanism to make essential coconut-based products available to household consumers at socialized prices. (Whereas clause 1)
- There are reports indicating irregularities in the collection of the CCSF levy from payors and in the payments to subsidy recipients. (Whereas clause 2)
- Protecting the CCSF is a matter of public interest, necessitating an audit of all payors of the CCSF levy and subsidy recipients. (Whereas clauses 3 and 4)
Legal Basis
- The President's inherent visitorial power of the State. (Main clause)
- Section 54 of Act 1459, as amended (the "Corporation Law"). (Main clause)
Scope of the Examination
- Any entity required to pay the CCSF levy imposed under P.D. 276, as amended, and as reiterated in P.D. 961. (Main clause)
- Any manufacturer of coconut-based products which may have received any amount as subsidy from collections of the CCSF levy. (Main clause)
Time Period Covered
- Up to and as of the date of the order (May 31, 1978). (Main clause)
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Tags
Executive Issuances
Executive Orders
Coconut Consumers Stabilization Fund
CCSF levy
subsidized coconut-based products
Commission on Audit
examination
business affairs
administration
condition
payors
manufacturers
irregularities
collection
payments
subsidy recipients
public interest
audit
visitorial power
Corporation Law
P.D. 276
P.D. 961
Law
Directing the Chairman of the Commission on Audit to Make an Examination Into the Business Affairs, Administration and Condition of Payors of the Coconut Consumers Stabilization Fund Levy and of Manufacturers of Subsidized Coconut-Based Products
Executive Order No. 504
•May 31, 1978
EXECUTIVE ORDER NO. 504 May 31, 1978
DIRECTING THE CHAIRMAN OF THE COMMISSION ON AUDIT TO MAKE AN EXAMINATION INTO THE BUSINESS AFFAIRS, ADMINISTRATION AND CONDITION OF PAYORS OF THE COCONUT CONSUMERS STABILIZATION FUND LEVY AND OF MANUFACTURERS OF SUBSIDIZED COCONUT-BASED PRODUCTS
WHEREAS, by means of the Coconut Consumers Stabilization Fund ("CCSF"), essential coconut-based products are made available to household consumers at socialized prices;
WHEREAS, there are reports tending to indicate that there are irregularities in the collection of the CCSF levy from the payors thereof and in the payments to subsidy recipients;
WHEREAS, the Protection of the CCSF is a matter of public interest;
WHEREAS, for that purpose, it is imperative that the Government conduct an audit of all payors of the CCSF levy and of all subsidy recipients;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the inherent visitorial power of the State, and, pursuant to Section 54 of Act 1459, as amended (the "Corporation Law"), hereby order the Chairman of the Commission on Audit to make an...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
Coconut Consumers Stabilization Fund
CCSF levy
subsidized coconut-based products
Commission on Audit
examination
business affairs
administration
condition
payors
manufacturers
irregularities
collection
payments
subsidy recipients
public interest
audit
visitorial power
Corporation Law
P.D. 276
P.D. 961
EXECUTIVE ORDER NO. 504 May 31, 1978
DIRECTING THE CHAIRMAN OF THE COMMISSION ON AUDIT TO MAKE AN EXAMINATION INTO THE BUSINESS AFFAIRS, ADMINISTRATION AND CONDITION OF PAYORS OF THE COCONUT CONSUMERS STABILIZATION FUND LEVY AND OF MANUFACTURERS OF SUBSIDIZED COCONUT-BASED PRODUCTS
WHEREAS, by means of the Coconut Consumers Stabilization Fund ("CCSF"), essential coconut-based products are made available to household consumers at socialized prices;
WHEREAS, there are reports tending to indicate that there are irregularities in the collection of the CCSF levy from the payors thereof and in the payments to subsidy recipients;
WHEREAS, the Protection of the CCSF is a matter of public interest;
WHEREAS, for that purpose, it is imperative that the Government conduct an audit of all payors of the CCSF levy and of all subsidy recipients;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the inherent visitorial power of the State, and, pursuant to Section 54 of Act 1459, as amended (the "Corporation Law"), hereby order the Chairman of the Commission on Audit to make an...
Login to see full content