Amendment of Section 197 under Title VI of COA Circular No. 92-386
The COA Circular No. 003-17 amends Section 197 of the Commission on Audit Circular No. 92-386 regarding the disposal of real property by local government units in the Philippines. It stipulates that real estate owned by local governments can be sold to either government or private entities through sealed bids or negotiation if bids fail, with the sale price determined by a Committee on Awards. The local chief executive is responsible for executing the contract, which must be approved by the local sanggunian and the Commission on Audit if negotiated. Additionally, the buyer is responsible for all costs related to the registration and transfer of ownership. This amendment is effective immediately.
Quick Answers
- What is Amendment of Section 197 under Title VI of COA Circular No. 92-386 about?
- The COA Circular No. 003-17 amends Section 197 of the Commission on Audit Circular No. 92-386 regarding the disposal of real property by local government units in the Philippines. It stipulates that real estate owned by local governments can be sold to either government or private entities through sealed bids or negotiation if bids fail, with the sale price determined by a Committee on Awards. The local chief executive is responsible for executing the contract, which must be approved by the local sanggunian and the Commission on Audit if negotiated. Additionally, the buyer is responsible for all costs related to the registration and transfer of ownership. This amendment is effective immediately.
- What type of law is COA Circular No. 003-17?
- Amendment of Section 197 under Title VI of COA Circular No. 92-386 (COA Circular No. 003-17) is a Philippine Other Rules and Procedures enacted by the Congress of the Philippines.
- When was Amendment of Section 197 under Title VI of COA Circular No. 92-386 enacted?
- Amendment of Section 197 under Title VI of COA Circular No. 92-386 (COA Circular No. 003-17) was enacted on Oct 25, 2017.
- What is the citation for Amendment of Section 197 under Title VI of COA Circular No. 92-386?
- Amendment of Section 197 under Title VI of COA Circular No. 92-386, COA Circular No. 003-17, Oct 25, 2017 (Philippines)
Law Information
- Reference Number
- COA Circular No. 003-17
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Commission on Audit
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 25, 2017
COA CIRCULAR NO. 003-17
| TO | : | Local Chief Executives, General Services Officers, Local Treasurers, Budget Officers, Accountants, Sanggunian Members, Provincial, City, and Municipal Auditors, and All Others Concerned |
| SUBJECT | : | Amendment of Section 197 under Title VI — Miscellaneous Provisions and Administrative Instructions of Commission on Audit Circular No. 92-386 dated October 20, 1992 re: Rules and Regulations on Supply and Property Management in the Local Governments |
To reconcile the provisions of Sections 379 and 380 of the Local Government Code of 1991 (Republic Act No. 7160) with Section 197 of Commission on Audit Circular No. 92-386 dated October 20, 1992, Prescribing Rules and Regulations on Supply and Property Management in the Local Governments, Section 197 of the circular is hereby amended as follows: IDSEAH
SEC. 197. Disposal of Real Property and Improvements. — Real estate and their improvements owned by the local government units may be sold to other government or private entity under sealed bids, or by negotiation if sealed bid has failed as defined herein at a price to be determined by the Committee on Awards. The contract of conveyance shall be executed by the local chief executive in behalf of the local government unit concerned in accordance with the formalities required by law on the matter and shall be approved by the local sanggunian. The disposal shall also be subject to the approval of the Commission on Audit in case the disposal is through negotiation regardless of the value of the property to be disposed. The request for approval shall be made prior to the perfection of the contract of sale through negotiation.
Expenses relative to the registration and transfer of ownership from the local government unit to the vendee shall be borne by the vendee.
This amendment shall take effect immediately.
(SGD.) MICHAEL G. AGUINALDOChairperson
(SGD.) JOSE A. FABIACommissioner
(SGD.) ISABEL D. AGITOCommissioner
Cite This Law
Amendment of Section 197 under Title VI of COA Circular No. 92-386, COA Circular No. 003-17, Oct 25, 2017 (Philippines)
Amendment of Section 197 under Title VI of COA Circular No. 92-386, COA Circular No. 003-17 (Phil. 2017)
Related Laws
- Guidelines to Implement COA Circular No. 2017-003 Dated October 25, 2017 Amending Section 197 and Prescribing Additional Guidelines Thereon SUBJECT : Guidelines to Implement Commission on Audit (COA) Circular No. 2017-003 dated October 25, 2017 Amending Section 197, Title VI — Miscellaneous Provisions and Administrative Instructions, of COA Circular No. 92-386 1 Dated October 20, 1992 and Prescribing Additional Guidelines ThereonCOA Circular No. 2019-003 • Jun 25, 2019 • Other Rules and Procedures
- Prescribing Rules and Regulations on Supply and Property Management in the Local GovernmentCOA Circular No. 386-92 • Oct 20, 1992 • Other Rules and Procedures
- Amendment to COA Circular No. 2013-003, dated January 30, 2013COA Circular No. 001-16 • May 31, 2016 • Other Rules and Procedures
- Conversion from the Philippine Government Chart of Accounts under the New Government Accounting System per COA Circular No. 2004-008 Dated September 20, 2004, as Amended, to the Revised Chart of Accounts for Government Corporations under COA Circular No. 2015-010 Dated December 01, 2015, New, Revised and Deleted Accounts, and Relevant Accounting Policies and Guidelines in the Implementation ThereofCOA Circular No. 006-16 • Dec 29, 2016 • Other Rules and Procedures
- Restatement with Amendments of COA Circular No. 2005-01COA Circular No. 004-06 • Jan 31, 2006 • Other Rules and Procedures
- Restatement with Amendments of COA Circular No. 2005-01COA Circular No. 003-06 • Jan 31, 2006 • Other Rules and Procedures
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