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WHEREAS, the Corporate Farming Program, by virtue of General Order No. 47, was established on May 27, 1974 to increase the supply of grains by requiring domestic corporations and partnerships with at least five hundred (500) employees to supply the rice and/or corn requirements of their employees;

WHEREAS, the covered corporations and partnerships compiled through their own production projects or through production-marketing linkages with farmers� group;

WHEREAS, after twelve (12) years of implementation, program accomplishment has fallen below grains supply objectives, and rice and/or corn production has not been viable anymore since self-sufficiency has already been attained;

WHEREAS, alternative schemes have been formulated to encourage private corporations to engage in more viable non-grain production ventures;

NOW, THEREFORE, I, CORAZON COJUANGCO-AQUINO, President of the Philippines, do hereby order and instruct:

1. That General Order No. 47, otherwise known as the Corporate Farming Program, is hereby repealed;
   
   
2. That corporations and partnerships brought under the coverage of General Order No. 47 and have actually embarked on the Corporate Farming Program, shall, without prejudice to their accrued contractual obligations, wind-up their corporate farming affairs within three (3) years from the effectivity of this Order;
   
   
3. The National Food Authority, being the monitoring institution, is hereby instructed to promulgate the necessary implementing rules and regulations for the purpose;
   
   
4. This Order shall take effect immediately.
   

Done this 28th day of May, Nineteen Hundred and Eighty-Seven, in the City of Manila, Philippines.


By the President:

(Sgd.) JOKER P. ARROYO
Executive Secretary