100 OG. No. 45, 7473 (Nov. 8, 2004)
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 an in a manner supportive of the development objectives of
government;
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 xxx".
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inconsistent with this Executive Order are hereby repealed or modified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.
Adopted: 30 July 2004
(SGD.) GLORIA MACAPAGAL-ARROYO
President of the Philippines
By the President:
(SGD.) ALBERTO ROMULO
Executive Secretary