Providing for the Rationalization of the Desiccated Coconut Industry
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Providing for the Rationalization of the Desiccated Coconut Industry
Executive Order No. 854
December 6, 1982
Case Overview and Summary
Summary of Executive Order No. 854Rationalization of the Desiccated Coconut Industry
- Sec. 1: The Philippine Coconut Authority (PCA) is ordered to reduce the number of existing desiccated coconut processing plants to ensure the survival of the remaining plants. The PCA will determine which plants should be phased out and enter into contracts for this purpose.
- Sec. 2: To finance the acquisition of facilities from phased-out plants, the PCA is authorized to incur loans. The remaining desiccators will be assessed reasonable amounts to repay these loans. The PCA can promulgate rules and regulations for implementing this order, including the acquisition and disposition of excess production facilities. The assessment will take effect at a time determined by the PCA.
- Sec. 3: The authorized assessment and acquired assets will be subject to exclusive audit by a reputable public accounting firm designated by the PCA in consultation with the desiccated coconut industry.
- Sec. 4: This order takes effect immediately.
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Executive Issuances
Executive Orders
desiccated coconut industry
Philippine Coconut Authority
rationalization
overcapacity
processing plants
phase out
acquisition
loans
assessment
audit
rules and regulations
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Providing for the Rationalization of the Desiccated Coconut Industry
Executive Order No. 854
•December 6, 1982
EXECUTIVE ORDER NO. 854 December 6, 1982
PROVIDING FOR THE RATIONALIZATION OF THE DESICCATED COCONUT INDUSTRY
WHEREAS, it is the declared policy of the State to promote the rapid integrated development and growth of the coconut and other palm oils industry in all its aspects;
WHEREAS, the coconut industry is one of the major earners of foreign exchange for the country and, therefore, its continued survival, growth and development is vital to the national economy;
WHEREAS, a major sector of the coconut industry, the desiccated coconut industry, is presently in a state of financial distress brought about, among others, by:
a) The overcapacity of the existing desiccated coconut processing plants;
b) The cutthroat competition for desiccated coconut; and
c) Underselling and smuggling of poor quality products.
WHEREAS, the state of financial distress of the desiccated coconut industry is of such serious nature that most, if not all, of the persons or entities engaged in the said business will be rendered insolvent to the ultimate prejudice of the coconut farmers, in particular, and of the country,...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
desiccated coconut industry
Philippine Coconut Authority
rationalization
overcapacity
processing plants
phase out
acquisition
loans
assessment
audit
rules and regulations
EXECUTIVE ORDER NO. 854 December 6, 1982
PROVIDING FOR THE RATIONALIZATION OF THE DESICCATED COCONUT INDUSTRY
WHEREAS, it is the declared policy of the State to promote the rapid integrated development and growth of the coconut and other palm oils industry in all its aspects;
WHEREAS, the coconut industry is one of the major earners of foreign exchange for the country and, therefore, its continued survival, growth and development is vital to the national economy;
WHEREAS, a major sector of the coconut industry, the desiccated coconut industry, is presently in a state of financial distress brought about, among others, by:
a) The overcapacity of the existing desiccated coconut processing plants;
b) The cutthroat competition for desiccated coconut; and
c) Underselling and smuggling of poor quality products.
WHEREAS, the state of financial distress of the desiccated coconut industry is of such serious nature that most, if not all, of the persons or entities engaged in the said business will be rendered insolvent to the ultimate prejudice of the coconut farmers, in particular, and of the country,...
Login to see full content