Amendment to DAR AO No. 2-04 Re: Grant of Increment of 6% Yearly Interest on Lands Covered by PD 27 and EO 228 ( DAR Administrative Order No. 06-08 )

July 28, 2008

DAR ADMINISTRATIVE ORDER NO. 06-08

 

I. RATIONALE

DAR Administrative Order No. 2, Series of 2004 which amended DAR Administrative Order No. 13, Series of 1994, entitled, Rules and Regulations Governing the Grant of Six Percent (6%) Yearly Interest Compounded Annually on Lands Covered by Presidential Decree No. 27 and Executive Order No. 228, extended the period of computing the increment of six percent (6%) annual interest compounded yearly from November 1994 up to the time of actual payment but not later than December 2006.

Since there are still P.D. 27 landholdings tenanted as of 21 October 1972 and those tenanted after 21 October 1972 where Orders of Placement had already been issued prior to 18 August 1987 but documentation has not yet been completed, there is a need therefore to extend the period on the grant of 6% increment to all claims that will be actually paid up to 31 December 2009.

II. AMENDMENT

1. The grant of six percent (6%) increment shall be reckoned as follows:

	FROM		TO
3.1	Tenanted as of 21 October	3.1	Tenanted as of 21 October
	1972 and covered under OLT		1972 and covered under OLT
	—	From 21 October 1972 up		—	From 21 October 1972 up to the
		to the time of actual payment			time of actual payment but not
		but not later than			later than 31 December 2009.
		31 December 2006.
3.2	Tenanted after 21 October	3.2	Tenanted after 21 October
	1972 and covered under OLT		1972 and covered under OLT
	—	From the date when the land		—	From the date when the land was
		was actually tenanted (by virtue			actually tenanted (by virtue of
		of Regional Order of			Regional Order of Placement
		Placement issued prior			issued prior to 18 August 1987)
		to 18 August 1987) up to the			up to the time of actual payment
		time of actual payment but not			but not later than 31 December
		later than 31 December 2006.			2009.

Time of Actual Payment — is the date when the Land Bank of the Philippines (LBP) approves the payment of the land transfer claim and deposits the compensation proceeds in the name of the landowner (LO) in cash and in bonds. The release of the payment is subject to compliance by the landowners of the pre-release requirements.

III. FUNDING REQUIREMENT

In order to ensure proper implementation of this A.O., necessary funding shall be allocated for the purpose.

IV. REPEALING CLAUSE

All pertinent provisions of A.O. No. 13, Series of 1994 and A.O. 2, Series of 2004, and all other rules, regulations and issuances inconsistent herewith are hereby modified or repealed accordingly. aCSTDc

IV. EFFECTIVITY

This Administrative Order shall take effect ten (10) days after its publication in two (2) newspapers of general circulation pursuant to Section 49 of R.A. No. 6657.

Diliman, Quezon City, July 28, 2008.

(SGD.) NASSER C. PANGANDAMANSecretary

Published in the Malaya on July 30, 2008.