(NAR) VOL. 7 NO. 1 / JANUARY-MARCH 1996
WHEREAS, under Section 3 of Administrative
Order No. 86, which took effect on October 8, 1993, the Land Bank of the
Philippines was designated as the Secretariat to the National Credit
Council (NCC) created under said Administrative
Order;
WHEREAS, pursuant to the findings of the
Philippine Institute for Development Studies (PIDS), which conducted a
study on the capabilities and activities of the NCC, the Land Bank of
the Philippines is not the most appropriate agency to act as the
Secretariat due to its active involvement in credit
delivery;
WHEREAS, under Executive Order No. 127,
dated January 30, 1987, the Department of Finance has been mandated to
manage the financial resources of government in a manner supportive of
development objective;
NOW, THEREFORE, I, FIDEL V.
RAMOS, President of the Philippines, by virtue of the powers vested in
me by law, do hereby amend Section 3, Administrative Order No. 86,
Series of 1993, by transferring the Secretariat of the National Credit
Council (NCC) from the Land Bank of the Philippines to the Department of
Finance.
This Administrative Order shall take effect
immediately.
Adopted: 06 Feb.
1996
(SGD.)
FIDEL V.
RAMOS
President
By
the President: