Increasing the Capitalization of the Light Rail Transit Authority From Five Hundred Million Pesos to Three Billion Pesos

Case Overview and Summary

Summary of Executive Order No. 830

Increasing the Capitalization of the Light Rail Transit Authority (LRTA)
- The economic growth, stability, and security of the nation require an efficient, adequate, economical, safe, convenient, and dependable transportation system that meets the demands of the populace and metropolitan needs. (Preamble)
- Executive Order No. 603 created the Light Rail Transit Authority (LRTA) with an authorized capital of Five Hundred Million Pesos (P500,000,000) to be subscribed by the Republic of the Philippines and other governmental institutions, corporations, instrumentalities, and agencies. (Preamble)
- Due to the equity requirements of the LRTA in the prosecution of LRTA projects in Metro Manila, there is a need to increase the authorized capital of the LRTA. (Preamble)

Provisions:
- Article 6, Section 15 of Executive Order No. 603 is amended to increase the authorized capital of the LRTA from Five Hundred Million Pesos (P500,000,000) to Three Billion Pesos (P3,000,000,000.00). (Section 1)
- The Three Billion Pesos (P3,000,000,000.00) authorized capital shall be fully subscribed by the Republic of the Philippines and other government institutions, corporations, instrumentalities, and agencies, whether national or local, within the framework of their respective charters. (Section 1)
- All laws, decrees, orders, rules and regulations, policies, programs, or part thereof, that are inconsistent with this Executive Order are hereby repealed, amended, or modified accordingly. (Section 2)
- This Executive Order shall take effect immediately. (Section 3)