Transferring the Board of Liquidators to the Department of Finance
Executive Order No. 350, issued on July 30, 2004, transfers the Board of Liquidators (BOL) from the Office of the President to the Department of Finance (DoF) in the Philippines. This change aims to enhance coordination between the BOL and the DoF, both of which are involved in managing non-performing assets and facilitating their privatization. The transfer is authorized under the Administrative Code of 1987, which permits the President to reassign agencies. The Executive Order repeals any conflicting rules and takes effect immediately.
Law Information
- Reference Number
- Executive Order No. 350
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Executive Orders
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 30, 2004
EXECUTIVE ORDER NO. 350
TRANSFERRING THE BOARD OF LIQUIDATORS (BOL) FROM THE OFFICE OF THE PRESIDENT TO THE DEPARTMENT OF FINANCE
WHEREAS, the Department of Finance (DoF) is responsible for the generation and management of the financial resources of government, ensuring that said resources are generated and managed judiciously and in a manner supportive of the development objectives of government; TICDSc
WHEREAS, the Board of Liquidators (BOL) is tasked with hastening the disposition of a number of non-performing assets under its administration;
WHEREAS, the DoF is likewise tasked with hastening the privatization of non-performing assets and government corporations which have been found unnecessary or inappropriate for government to maintain;
WHEREAS, in order to facilitate coordination between these agencies, it is necessary to place the BOL under the DoF;
WHEREAS, Section 31 (3), Chapter 10, Title III, Book III of the Administrative Code of 1987, authorizes the President to "[T]ransfer any agency under the Office of the President to any other department or agency . . .".
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 order:
SECTION 1. The Board of Liquidators is hereby transferred from the Office of the President to the Department of Finance.
SECTION 2. All orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.
SECTION 3. This Executive Order shall take effect immediately. benchCDTA
DONE in the City of Manila, this 30th day of July, in the year of Our Lord, Two Thousand and Four. benchCDTA
Cite This Law
Transferring the Board of Liquidators to the Department of Finance, Executive Order No. 350, Jul 30, 2004 (Philippines)
Transferring the Board of Liquidators to the Department of Finance, Executive Order No. 350 (Phil. 2004)
Related Laws
- Transferring the Philippine Crop Insurance Corporation (PCIC) from the Department of Agriculture to the Department of Finance, and Reorganizing the PCIC Board of DirectorsExecutive Order No. 148 • Sep 14, 2021 • Presidential Issuances
- Continued Performance of Board of Liquidators of Its Functions and DutiesLetter of Instructions No. 351 • Dec 23, 1975 • Presidential Issuances
- Transferring the Cooperative Development Authority to the Department of FinanceExecutive Order No. 332 • Jul 16, 2004 • Presidential Issuances
- Amending E.O. No. 141 s. 2002 Re: Composition of the Central Bank Board of LiquidatorsExecutive Order No. 141-A • Jun 25, 2005 • Presidential Issuances
- Implementing E.O. No. 345 (s. 1996) Re: Transfer of Board of LiquidatorsMemorandum Order No. 401 • Oct 10, 1996 • Presidential Issuances
- Amendment to E.O. No. 330 Re: Transfer of PAGCOR from Department of Finance to Office of the PresidentExecutive Order No. 330-A • Mar 6, 2006 • Presidential Issuances
Browse More Presidential Issuances
Explore other laws in the Presidential Issuances category.
View All Presidential IssuancesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law