EXECUTIVE ORDER NO. 345 June 14, 1996
TRANSFERRING THE BOARD OF LIQUIDATORS (BOL) FROM THE NATIONAL DEVELOPMENT COMPANY (NDC) TO THE ASSET PRIVATIZATION TRUST (APT) TO EFFECT ITS ABOLITION
WHEREAS, the government is committed to pursue the policy of the State to promote privatization through an orderly, coordinated and efficient program for the prompt disposition of the large number of non-performing assets and certain government-owned and/or controlled corporations which have been found unnecessary or inappropriate for the government sector to maintain, as embodied in Proclamation No. 50, s. of 1986, as much as it is committed to streamline the bureaucracy by adopting a homogeneous grouping of functionally-related government agencies;
WHEREAS, Executive Order No. 149, s. of 1993, transferred the Board of Liquidators (BOL) to the National Development Company (NDC) for policy and program coordination/integration and/or administrative supervision prior to its eventual abolition;
WHEREAS, in the course of the BOL's attachment to the NDC, it had been observed that the thrust, functions, and activities of the BOL are not aligned with the thrust, functions...
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Executive Orders
Transferring the board of liquidators (bol) from the National development company (ndc) to the asset privatization trust (apt) to effect its abolition
Executive Order No. 345
EXECUTIVE ORDER NO. 345
Transfer of Board of Liquidators (BOL) from National Development Company (NDC) to Asset Privatization Trust (APT) to Effect its Abolition
- Dispositive Action (Section 1):
- BOL is transferred from NDC to APT.
- APT shall prepare and effect the eventual abolition of BOL.
- Scope of Transfer (Section 2):
- Transfer includes BOL's functions, records, equipment, facilities, assets and liabilities, and personnel.
- Mode of Transfer (Section 3):
- APT shall immediately prepare and implement a Function Rationalization and Integration Plan (FRIP) to complete the abolition of BOL, as previously contemplated under Executive Order No. 149.
- Repealing Clause (Section 4):
- All executive orders, rules and regulations, and other issuances or parts thereof that are inconsistent with this Executive Order are hereby deemed revoked or modified accordingly.
- Effectivity (Section 5):
- This executive order shall take effect fifteen (15) days after its publication in at least one newspaper of general circulation.
Transfer of Board of Liquidators (BOL) from National Development Company (NDC) to Asset Privatization Trust (APT) to Effect its Abolition
- Dispositive Action (Section 1):
- BOL is transferred from NDC to APT.
- APT shall prepare and effect the eventual abolition of BOL.
- Scope of Transfer (Section 2):
- Transfer includes BOL's functions, records, equipment, facilities, assets and liabilities, and personnel.
- Mode of Transfer (Section 3):
- APT shall immediately prepare and implement a Function Rationalization and Integration Plan (FRIP) to complete the abolition of BOL, as previously contemplated under Executive Order No. 149.
- Repealing Clause (Section 4):
- All executive orders, rules and regulations, and other issuances or parts thereof that are inconsistent with this Executive Order are hereby deemed revoked or modified accordingly.
- Effectivity (Section 5):
- This executive order shall take effect fifteen (15) days after its publication in at least one newspaper of general circulation.