EXECUTIVE ORDER NO. 202 September 22, 1994
TRANSFERRING THE SECURITIES AND EXCHANGE COMMISSION TO THE DEPARTMENT OF FINANCE
WHEREAS, Section 1, Chapter 1, Title I, Book III of Executive Order No. 292, otherwise known as the Administrative Code of 1987, provides that the President shall have control of all executive departments, bureaus, and offices.
WHEREAS, Section 31, Chapter 10, Title III, Book III of the Administrative Code of 1987, provides continuing authority to the President to reorganize the administrative structure of the Office of the President in order to achieve economy and efficiency of the public service delivery; and
WHEREAS, there is a growing need to improve interaction among appropriate government agencies and instrumentalities to develop the domestic capital market and promote savings mobilization in support of economic growth.
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Philippines by virtue of the powers vested in me by law, do hereby order:
Sec. 1. The Securities and Exchange Commission (SEC) is hereby transferred under the administrative supervision and...
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Executive Orders
Transferring the Securities and Exchange Commission To the Department of Finance
Executive Order No. 202
Summary of Executive Order No. 202
Transfer of the Securities and Exchange Commission (SEC) to the Department of Finance (DOF)
- The SEC is transferred under the administrative supervision and control of the DOF. (Section 1)
- The relationship between the DOF and SEC shall be governed by Subsections 1 and 2 of Section 38, Chapter 7, Title III, Book IV of the Administrative Code. (Section 2)
- The DOF shall assume all oversight and other functions, administrative and otherwise, over the SEC, including:
- Formulation of policies on capital market development and savings mobilization. (Section 2)
Repealing and Modifying Inconsistent Orders
- All orders, issuances, rules and regulations, or parts thereof inconsistent with this Executive Order are repealed and modified accordingly. (Section 3)
Effectivity
- This Executive Order shall take effect immediately. (Section 4)
Transfer of the Securities and Exchange Commission (SEC) to the Department of Finance (DOF)
- The SEC is transferred under the administrative supervision and control of the DOF. (Section 1)
- The relationship between the DOF and SEC shall be governed by Subsections 1 and 2 of Section 38, Chapter 7, Title III, Book IV of the Administrative Code. (Section 2)
- The DOF shall assume all oversight and other functions, administrative and otherwise, over the SEC, including:
- Formulation of policies on capital market development and savings mobilization. (Section 2)
Repealing and Modifying Inconsistent Orders
- All orders, issuances, rules and regulations, or parts thereof inconsistent with this Executive Order are repealed and modified accordingly. (Section 3)
Effectivity
- This Executive Order shall take effect immediately. (Section 4)