Merger of the Board of Liquidators and the Privatization and Management Office

November 17, 2005

EXECUTIVE ORDER NO. 471

DIRECTING THE MERGER OF THE BOARD OF LIQUIDATORS (BOL) AND THE PRIVATIZATION AND MANAGEMENT OFFICE (PMO)

WHEREAS, Executive Order 372 (s. 1950) mandated the Board of Liquidators (BOL) to gradually settle, dispose of and convey properties of abolished government corporations and former-enemy-owned entities within three years of the Board's creation; IAcDET

WHEREAS, Executive Order 323 (s. 2000) created the Privatization and Management Office (PMO) to implement a disposition program for government corporations, assets and idle properties upon approval of the Privatization Council, which oversees the privatization program of the government;

WHEREAS, the merger of the BOL with the PMO will expedite the liquidation of assets and properties of abolished agencies under the stewardship of the BOL and improve the efficiency of the privatization program by removing duplicative functions in asset disposition;

WHEREAS, it is the Administration's policy to undertake a streamlining program to transform the bureaucracy into an efficient and results-oriented organization;

WHEREAS, under existing laws and jurisprudence, the President has continuing authority to reorganize the Executive Branch of Government.

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. Merger. — The functions, rights, personnel, properties, assets, resources, technologies, materials, and records, as well as the obligations and liabilities of the BOL are hereby merged with the PMO. The assets and/or rights, which the BOL is mandated to dispose under EO 372, shall be transferred to the National Government which shall entrust said assets and/or rights to the PMO.

SECTION 5. Early Retirement for Personnel Who May Be Affected By the Merger. — BOL personnel who may be affected by the merger shall be offered the early retirement/separation benefits under Executive Order 366 (s. 2004).

SECTION 6. Role of the PrC. — The PrC shall have the authority to approve any action on the disposition of properties of abolished agencies under the merged PMO including all pending disposition transactions of BOL awaiting final action from the Office of the President at the time this Executive Order has been issued. PrC shall issue the implementing guidelines for the effective implementation of this EO. It shall also monitor and assist the BOL and the PMO in the implementation of activities affecting the merger.

SECTION 7. Reporting Requirements. — The PMO shall submit a report to the Office of the President (OP), copy furnished the PMS on the status of the merger within thirty (30) days after the effectivity of this Order and every quarter thereafter or as often as may be required by the OP.

SECTION 8. Repealing Clause. — EO 372 (s. 1950) and EO 350 (s. 2004) and all other orders, rules and regulations, and other issuances or parts thereof which are inconsistent with this Executive Order are hereby repealed, amended or modified accordingly.

SECTION 9. Effectivity. — This Executive Order shall take effect immediately after its publication in the Official Gazette or in a newspaper of general circulation.

DONE in the City of Manila, this 17th day of November, in the year of Our Lord, Two Thousand and Five.