Implementing the Abolition of NIA Consult, Inc. (NIACI)

August 13, 2014 GCG MEMORANDUM ORDER NO. 2014-22 IMPLEMENTING THE ABOLITION OF NIA CONSULT, INC. (NIACI) WHEREAS, NIA Consult, Inc. (NIACI) is a wholly-owned subsidiary of the National Irrigation Administration (NIA) and was established for the purpose of engaging in the business of consultancy, management, and special services for the investigation, survey, study, planning, research and/or construction of irrigation projects; WHEREAS, the Governance Commission determined that NIACI is not financially viable, has functions that overlap with NIA, and its purpose is no longer relevant to the State; WHEREAS, NIACI's primary purpose can be carried out directly by NIA through its broad corporate powers to investigate and study all available and possible water resources in the Philippines, primarily for irrigation purposes, and to plan, design, construct and/or improve all types of irrigation projects, under Section 2 of R.A. 3601; WHEREAS, the Governance Commission recommended the approval of the abolition of NIACI to H.E. the President pursuant to Section 5 (a) of R.A. No. 10149; WHEREAS, the recommendation to abolish NIACI was approved by H.E. the President through a Memorandum from the Executive Secretary dated 07 August 2014; WHEREAS, the Governance Commission and the Securities and Exchange Commission have entered into a Memorandum of Agreement on 8 April 2013 for the abolition of Nonchartered GOCCs; NOW, BE IT RESOLVED, the Commission hereby directs NIA, as the Parent GOCC of NIA Consult, Inc. (NIACI), to DISSOLVE NIACI and to take all proper and necessary steps in connection therewith, in coordination with the GCG; RESOLVED FURTHER, NIA shall submit reports to GCG within thirty (30) calendar days from the close of each quarter until the implementation of the dissolution has been completed. DONE, in the City of Manila, this 13th day of August, Two Thousand and Fourteen. DACIHc BY AUTHORITY OF THE COMMISSION: (SGD.) CESAR L. VILLANUEVA Chairman Governance Commission for GOCCs (SGD.) MA. ANGELA E. IGNACIO Commissioner Governance Commission for GOCCs (SGD.) RAINIER B. BUTALID Commissioner Governance Commission for GOCCs