Amendment to E.O. No. 330 Re: Transfer of PAGCOR from Department of Finance to Office of the President

March 6, 2006

EXECUTIVE ORDER NO. 330-A

AMENDING EXECUTIVE ORDER NO. 330 BY TRANSFERRING THE ATTACHMENT OF THE PHILIPPINE AMUSEMENT AND GAMING CORPORATION (PAGCOR) FROM THE DEPARTMENT OF FINANCE TO THE OFFICE OF THE PRESIDENT

WHEREAS, Executive Order No. 330, series of 2004 transferred the PAGCOR from the Office of the President to the Department of Finance as an attached agency of the latter; SDTIHA

WHEREAS, in order to finance priority infrastructure and socio-civic projects as determined by the President, it is best to place PAGCOR back to the Office of the President;

WHEREAS, under Presidential Decree 1869, the charter of PAGCOR, the Board of Directors of PAGCOR shall submit to the Office of the President of the Philippines before the end of February of each year a list of all the infrastructure and/or socio-civic projects that might have been financed from the Corporation's earnings, and to submit such periodic or other reports as may be required of it from time to time;

WHEREAS, under the same charter, PAGCOR shall allocate and distribute, with the approval of the Office of the President of the Philippines, the earnings of the said Corporation earmarked to finance infrastructure and socio-civic projects;

NOW THEREFORE, I GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby amend EO No. 330 by transferring the attachment of PAGCOR from the Department of Finance back to the Office of the President.

This Executive Order shall take effect immediately.

DONE in the City of Manila, this 6th day of March, in the year of Our Lord, Two Thousand and Six.