EXECUTIVE ORDER NO. 277 September 24, 1995
DIRECTING THE MODE OF TREATMENT UTILIZATION, ADMINISTRATION AND MANAGEMENT OF THE COCONUT LEVY FUNDS
WHEREAS, the coconut levy funds, which comprise four general classes, viz.: (a) the Coconut Investment Fund created under R.A. 6260 (effective June 19, 1971); (b) the Coconut Consumers Stabilization Fund under P.D. 276 (effective August 29, 1973); (c) the Coconut Industry Development Fund under P.D. 582 (effective November 14, 1974); and (d) the Coconut Industry Stabilization Fund under P.D. 1841 (effective October 2, 1981), were created to support and advance the development of the coconut industry for the ultimate benefit of the coconut farmers;
WHEREAS, the Supreme Court, in upholding the sequestration of various industrial and commercial enterprises organized and financed with proceeds from the coconut levy, declared in the Philippines Coconut Producers Federation, Inc. (COCOFED), et al. vs. Presidential Commission on Good Government (PCGG), et al. (178 SCRA 236 21 October 1989) case that:
"The utilization and proper management of the coconut levy funds, raised as they were by the State's...
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Executive Orders
Directing the mode of treatment utilization, administration and management of the coconut levy funds
Executive Order No. 277
EXECUTIVE ORDER NO. 277
Treatment, Utilization, Administration and Management of the Coconut Levy Funds
- The coconut levy funds comprise four general classes:
• The Coconut Investment Fund created under R.A. 6260 (effective June 19, 1971).
• The Coconut Consumers Stabilization Fund under P.D. 276 (effective August 29, 1973).
• The Coconut Industry Development Fund under P.D. 582 (effective November 14, 1974).
• The Coconut Industry Stabilization Fund under P.D. 1841 (effective October 2, 1981).
- The Supreme Court declared that the coconut levy funds are "clearly affected with public interest" and must be accounted for as public funds subject to government measures. (WHEREAS clauses)
- The Constitution mandates that the Commission on Audit shall have the power to examine and audit all accounts pertaining to funds owned or held by the government, including government-owned or controlled corporations. (WHEREAS clause)
- The Commission on Audit opined that the coconut levy falls within the purview of government funds and should be accounted for as such. (WHEREAS clause)
- The Bureau of Internal Revenue ruled that the coconut levies are taxes and enforced contributions, and therefore are public funds subject to government administration and disposition. (WHEREAS clause)
- The coconut levy funds, including all income, interest, proceeds or profits derived therefrom, as well as all assets, properties and shares of stocks procured or obtained with the use of such funds, shall be treated, utilized, administered and managed as public funds. (Section a)
• The funds shall be used consistent with the purposes under the laws which constituted them and the development priorities of the government.
• The funds shall be used for the government's coconut productivity, rehabilitation research, extension, farmers organizations and market promotions programs designed to advance the development of the coconut industry and the welfare of the coconut farmers.
• The Department of Agriculture, Presidential Commission on Good Government, Philippine Coconut Authority, United Coconut Planters' Bank and The Coconut Industry Investment Fund shall jointly review, rationalize and integrate their concerns and programs in a Master Plan for the years 1995 to 2000.
- All existing laws, rules and regulations governing custodianship, use, disposition, disbursement and/or divestment of public funds and properties shall be applied in the utilization, administration and management of the coconut levy funds. (Section b)
Treatment, Utilization, Administration and Management of the Coconut Levy Funds
- The coconut levy funds comprise four general classes:
• The Coconut Investment Fund created under R.A. 6260 (effective June 19, 1971).
• The Coconut Consumers Stabilization Fund under P.D. 276 (effective August 29, 1973).
• The Coconut Industry Development Fund under P.D. 582 (effective November 14, 1974).
• The Coconut Industry Stabilization Fund under P.D. 1841 (effective October 2, 1981).
- The Supreme Court declared that the coconut levy funds are "clearly affected with public interest" and must be accounted for as public funds subject to government measures. (WHEREAS clauses)
- The Constitution mandates that the Commission on Audit shall have the power to examine and audit all accounts pertaining to funds owned or held by the government, including government-owned or controlled corporations. (WHEREAS clause)
- The Commission on Audit opined that the coconut levy falls within the purview of government funds and should be accounted for as such. (WHEREAS clause)
- The Bureau of Internal Revenue ruled that the coconut levies are taxes and enforced contributions, and therefore are public funds subject to government administration and disposition. (WHEREAS clause)
- The coconut levy funds, including all income, interest, proceeds or profits derived therefrom, as well as all assets, properties and shares of stocks procured or obtained with the use of such funds, shall be treated, utilized, administered and managed as public funds. (Section a)
• The funds shall be used consistent with the purposes under the laws which constituted them and the development priorities of the government.
• The funds shall be used for the government's coconut productivity, rehabilitation research, extension, farmers organizations and market promotions programs designed to advance the development of the coconut industry and the welfare of the coconut farmers.
• The Department of Agriculture, Presidential Commission on Good Government, Philippine Coconut Authority, United Coconut Planters' Bank and The Coconut Industry Investment Fund shall jointly review, rationalize and integrate their concerns and programs in a Master Plan for the years 1995 to 2000.
- All existing laws, rules and regulations governing custodianship, use, disposition, disbursement and/or divestment of public funds and properties shall be applied in the utilization, administration and management of the coconut levy funds. (Section b)