EXECUTIVE ORDER NO. 465 June 13, 1991
PROVIDING FOR THE ABOLITION OF CERTAIN GOVERNMENT CORPORATIONS, GRANTING THE BOARD OF LIQUIDATORS CERTAIN POWERS AND AUTHORITIES RELATIVE THERETO, AND FOR OTHER PURPOSES
WHEREAS, the abolition of certain government-owned or controlled corporations has been recommended by the Department of Budget and Management, pursuant to its mandate under Executive Order No. 165, series of 1987 and Executive Order No. 5, Series of 1986;
WHEREAS, the Secretary of Justice in his Opinion No. 210, series of 1988, declares that the President of the Philippines "may, in the implementation of the privatization program of the government, amend or repeal the charter of government-owned or controlled corporations to her delegated legislative authority under Section 22 of Proclamation No. 50, which remains to be operative until it is amended, repealed or revoked by Congress (Sec. 3, Art. XVIII, Constitution)";
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
Sec. 1. Abolition. The following are hereby abolished:
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Executive Orders
Providing For the Abolition of Certain Government Corporations, Granting the Board of Liquidators Certain Powers and Authorities Relative Thereto, and For Other Purposes
Executive Order No. 465
EXECUTIVE ORDER NO. 465
Abolition of Certain Government Corporations (Sec. 1):
- Philippine Dendro Gasifier, Inc.
- National Dendro Development Corporation
- Museum of Philippine Costumes
- Leyte Sab-a Basin Development Authority
- Philippine National Lines
- National Youth and Sports Development Foundation of the Philippines (deemed abolished under Republic Act No. 6847)
Board of Liquidators (Sec. 2):
- Implement the abolition of the entities in accordance with Executive Order No. 372, Series of 1950.
- Lease, sell, assign, transfer or dispose of the funds, properties, developmental projects, and other assets of the abolished corporations, subject to approval of the President.
- If assets are transferred to any government agency, funds shall be taken from the unexpended balances of the National Treasury. (Sec. 2a)
- Use the proceeds from the disposition to settle pending obligations of the abolished corporations, with remaining balance remitted to the National Treasury as part of the General Fund. (Sec. 2b)
- If assets are insufficient to pay liabilities, payment shall be in accordance with the Civil Code provisions on concurrence and preference of credits. (Sec. 2c)
Personnel, Appropriations, Funds (Sec. 3):
- Personnel of the abolished corporations shall receive termination benefits under pertinent laws, rules and regulations.
- Appropriations and funds of the abolished corporations shall revert to the General Fund, net of liabilities.
Notice or Consent Requirement (Sec. 4):
- If any organizational change prejudices third parties with recognized rights, notice to or consent of creditors shall be complied with prior to implementation.
Supervision and Periodic Reports (Sec. 5):
- The Board of Liquidators shall be supervised by the Department of Budget and Management.
- The Board shall submit periodic reports to the Department of Budget and Management.
Abolition of Philippine National Lines (Sec. 6):
- The National Development Company shall implement the abolition of the Philippine National Lines, under the supervision of the Committee of Privatization.
- The National Development Company shall have the same powers and functions as the Board of Liquidators, subject to the same limitations and conditions.
- Approval for lease, sale, assignment, transfer or disposition of assets shall be by the Committee on Privatization.
Separability (Sec. 7):
- Any unconstitutional or invalid portion shall not nullify other portions that can still subsist and be given effect.
Repeal (Sec. 8):
- Repeals various Executive Orders and Presidential Decrees concerning the abolished corporations.
- Repeals or modifies other contrary laws, rules, regulations and administrative issuances.
Effectivity (Sec. 9):
- This Executive Order shall take effect upon approval and publication in the Official Gazette or a national newspaper of general circulation.
Abolition of Certain Government Corporations (Sec. 1):
- Philippine Dendro Gasifier, Inc.
- National Dendro Development Corporation
- Museum of Philippine Costumes
- Leyte Sab-a Basin Development Authority
- Philippine National Lines
- National Youth and Sports Development Foundation of the Philippines (deemed abolished under Republic Act No. 6847)
Board of Liquidators (Sec. 2):
- Implement the abolition of the entities in accordance with Executive Order No. 372, Series of 1950.
- Lease, sell, assign, transfer or dispose of the funds, properties, developmental projects, and other assets of the abolished corporations, subject to approval of the President.
- If assets are transferred to any government agency, funds shall be taken from the unexpended balances of the National Treasury. (Sec. 2a)
- Use the proceeds from the disposition to settle pending obligations of the abolished corporations, with remaining balance remitted to the National Treasury as part of the General Fund. (Sec. 2b)
- If assets are insufficient to pay liabilities, payment shall be in accordance with the Civil Code provisions on concurrence and preference of credits. (Sec. 2c)
Personnel, Appropriations, Funds (Sec. 3):
- Personnel of the abolished corporations shall receive termination benefits under pertinent laws, rules and regulations.
- Appropriations and funds of the abolished corporations shall revert to the General Fund, net of liabilities.
Notice or Consent Requirement (Sec. 4):
- If any organizational change prejudices third parties with recognized rights, notice to or consent of creditors shall be complied with prior to implementation.
Supervision and Periodic Reports (Sec. 5):
- The Board of Liquidators shall be supervised by the Department of Budget and Management.
- The Board shall submit periodic reports to the Department of Budget and Management.
Abolition of Philippine National Lines (Sec. 6):
- The National Development Company shall implement the abolition of the Philippine National Lines, under the supervision of the Committee of Privatization.
- The National Development Company shall have the same powers and functions as the Board of Liquidators, subject to the same limitations and conditions.
- Approval for lease, sale, assignment, transfer or disposition of assets shall be by the Committee on Privatization.
Separability (Sec. 7):
- Any unconstitutional or invalid portion shall not nullify other portions that can still subsist and be given effect.
Repeal (Sec. 8):
- Repeals various Executive Orders and Presidential Decrees concerning the abolished corporations.
- Repeals or modifies other contrary laws, rules, regulations and administrative issuances.
Effectivity (Sec. 9):
- This Executive Order shall take effect upon approval and publication in the Official Gazette or a national newspaper of general circulation.