Further Defining Certain Functions and Powers of the Public Estates Authority
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Further Defining Certain Functions and Powers of the Public Estates Authority
Executive Order No. 654
February 26, 1981
Case Overview and Summary
Executive Order No. 654Provisions:
- Classifies the Public Estates Authority (PEA) as an infrastructure/utilities group corporation to operate on a self-liquidating basis (Sec. 1)
- Grants PEA autonomy to:
- Modify its organization as deemed necessary by its Board (Sec. 1a)
- Invest its funds and assets in ventures and undertakings to ensure full utilization (Sec. 1b)
- Authorizes PEA to determine the kind and manner of payment for the transfer of its assets and properties to third parties (Sec. 2)
- Increases the number of PEA Board members from 5 to 7, with the General Manager as an ex officio member (Sec. 3)
- Exempts all lands, buildings, and other real properties of PEA from payment of real estate taxes (Sec. 4)
- Modifies inconsistent laws, decrees, orders, rules, and regulations accordingly (Sec. 5)
- Takes effect immediately (Sec. 6)
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Executive Issuances
Executive Orders
Public Estates Authority
reclamation projects
self-liquidating basis
organizational autonomy
investment authority
asset disposition
real estate tax exemption
board composition
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Further Defining Certain Functions and Powers of the Public Estates Authority
Executive Order No. 654
•February 26, 1981
EXECUTIVE ORDER NO. 654 February 26, 1981
FURTHER DEFINING CERTAIN FUNCTIONS AND POWERS OF THE PUBLIC ESTATES AUTHORITY
WHEREAS, the Public Estates Authority has been created under Presidential Decree No. 1084 in order to provide a coordinated, economical and efficient administration of lands and real estate, especially reclaimed lands, belonging to, managed and/or operated by the Government;
WHEREAS, pursuant to Executive Order No. 525, the Public Estates Authority shall be the agency primarily responsible for integrating, directing and coordinating all reclamation projects for and in behalf of the National Government;
WHEREAS, large reclamation projects can provide vital infrastructures for the Government's overall economic and social development programs on a self-liquidating basis;
WHEREAS, it is necessary to adapt certain powers and functions of Public Estates Authority to the attainment of its objectives on a self-liquidating basis;
WHEREAS, under Presidential Decree No. 1416, the President is empowered to undertake such organizational and related improvements as may be appropriate in the light of changing circumstances and new developments;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
Public Estates Authority
reclamation projects
self-liquidating basis
organizational autonomy
investment authority
asset disposition
real estate tax exemption
board composition
EXECUTIVE ORDER NO. 654 February 26, 1981
FURTHER DEFINING CERTAIN FUNCTIONS AND POWERS OF THE PUBLIC ESTATES AUTHORITY
WHEREAS, the Public Estates Authority has been created under Presidential Decree No. 1084 in order to provide a coordinated, economical and efficient administration of lands and real estate, especially reclaimed lands, belonging to, managed and/or operated by the Government;
WHEREAS, pursuant to Executive Order No. 525, the Public Estates Authority shall be the agency primarily responsible for integrating, directing and coordinating all reclamation projects for and in behalf of the National Government;
WHEREAS, large reclamation projects can provide vital infrastructures for the Government's overall economic and social development programs on a self-liquidating basis;
WHEREAS, it is necessary to adapt certain powers and functions of Public Estates Authority to the attainment of its objectives on a self-liquidating basis;
WHEREAS, under Presidential Decree No. 1416, the President is empowered to undertake such organizational and related improvements as may be appropriate in the light of changing circumstances and new developments;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,...
Login to see full content