Providing for the General and Specific Administrative Supervisions Over the Home Development Mutual Funds

EXECUTIVE ORDER NO. 643 January 24, 1981

PROVIDING FOR THE GENERAL AND SPECIFIC ADMINISTRATIVE SUPERVISIONS OVER THE HOME DEVELOPMENT MUTUAL FUNDS

WHEREAS, Presidential Decree No. 1752, amending P.D. No. 1530 that created the Home Development Mutual Fund, has given it corporate status but also provides for its supervision by appropriate Government agencies as the President may designate and authorize;

WHEREAS, it is deemed in the best public interest and proper administration of Fund to authorize ministries and offices in general to exercise their respective supervisory and regulatory duties over corresponding aspects of the Fund's administration, with the Ministry of Human Settlements, however, as the principal agency to exercise general supervision, for the following reasons:

a) On account of the Ministry's primary responsibility over the integrated implementation of the national shelter program, housing being the major component of the Fund's mission;

b) to optimize integration and implementation of the purposes and programs of the Fund with the shelter, livelihood and related programs of the Ministry and its attached agencies;

c)...

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Summary of Executive Order No. 643

General Administrative Supervision over the Home Development Mutual Fund
- Government ministries and offices are authorized to exercise their respective supervisory and regulatory functions over specific aspects of the Fund's administration. (Section 1)
- The Ministry of Finance shall supervise fiscal matters. (Section 1)
- The Monetary Board and Central Bank shall supervise monetary matters. (Section 1)
- The Ministry of the Budget shall supervise public funds allocations. (Section 1)

Specific Administrative Supervision by the Ministry of Human Settlements
- The Ministry of Human Settlements is designated as the principal agency to exercise general supervision, visitation, and verification of the Fund's administration. (Section 2)
- The Ministry shall optimize the integration and implementation of the Fund's objectives and programs with the Ministry's programs and policies concerning shelter, livelihood, and related fields. (Section 2)

Repealing Clause
- Any provisions of law, decree, executive order, rule, regulation, or circular that are contrary or inconsistent with this order are repealed, amended, or modified. (Section 3)

Effectivity
- This order shall take effect immediately. (Section 4)