(NAR) VOL. 15 NOS. 3-4 / JULY / SEPTEMBER
SECTION 1. The articles specifically listed in Annex "A"* hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be subject to the rates of import duty [Most-Favoured-Nation (MFN) and Association of Southeast Asian Nations (ASEAN) - Common Effective Preferential Tariff (CEPT)] indicated in Columns 4 and 5 opposite each article.
SECTION 2. The ASEAN-CEPT rates so indicated in Annex "A" shall be accorded to imports coming from ASEAN Member States applying CEPT concession to the same product pursuant to Article 4 of the Agreement on the CEPT Scheme for the ASEAN Free Trade Area (CEPT Agreement), signed on 28 January 1992, and its Interpretative Notes.
SECTION 3. The rates of import duty on tariff headings not enumerated and those listed but represented by the symbol "x x x" shall remain in force and in effect.
SECTION 4. Upon the effectivity of this Executive Order, all articles listed in Annex "A"* which are entered and withdrawn from warehouses in the Philippines for consumption shall be levied the MFN rates of duty therein prescribed.
SECTION 5. Upon the date of effectivity of this Executive Order, all articles listed in Annex "A" which are entered and withdrawn from warehouses in the Philippines for consumption shall be imposed the ASEAN-CEPT rates of duty therein prescribed subject to qualification under the Rules of Origin as provided for in the CEPT Agreement.
SECTION 6. The MFN and CEPT rates shall take effect once the Department of Energy certifies that a trigger price has been reached.
SECTION 7. The Department of Energy, in coordination with the Department of Finance, Department of Trade and Industry, National Economic and Development Authority and the Bureau of Customs shall promulgate the guidelines to implement this EO.
SECTION 8. All Presidential issuances, administrative rules and regulations or parts thereof, which are contrary to or inconsistent with this Executive Order are hereby revoked or modified accordingly.
SECTION 9. This Executive Order shall take effect after fifteen (15) days following its complete publication in two (2) newspapers of general circulation in the Philippines.