MALACAÑAN PALACE
MANILABY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER No. 179
PROVIDING THE ADMINISTRATIVE GUIDELINES FOR THE INVENTORY AND PRIVATIZATION OF COCO LEVY ASSETS
WHEREAS, Presidential Decree (PD) No. 755 mandated the acquisition of a commercial bank for the benefit of coconut farmers (now the United Coconut Planters Bank, "UCPB") through the use of the Coconut Consumers Stabilization Fund (CCSF) and the distribution, for free, of the shares of stocks in UCPB to coconut farmers;
WHEREAS, pursuant to Section 9 of PD No. 1468, the Philippine Coconut Authority (PCA) was mandated to ascertain the amount of collections out of the CCSF and/or the Coconut Industry Development Fund (CIDF) which may be treated as surplus, and subsequently this ascertained surplus came to be known as the Coconut Industry Investment Fund (CNF);
WHEREAS, UCPB was authorized under PD No. 1468 to utilize the CIIF in making investments in the form of shares of stocks in corporations organized for the purpose of engaging in the establishment and operation of industries and commercial activities and other...
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Providing The Administrative Guidelines For The Inventory And Privatization Of Coco Levy Assets
Executive Order No. 179
