MOP, Bk 12 Pt. 1, v.5, 48
WHEREAS, Sec. 15, Article XI of the 1987 Constitution provides that “The right of the state to recover properties unlawfully acquired by public officials or employees, from them or from their nominees or transferees, shall not be barred by prescription, laches, or estoppel”;
WHEREAS, there have been allegations of loans, guarantees, and other forms of financial accommodations granted, directly or indirectly, by government-owned or controlled bank or financial institutions, at the behest, command, or urging by previous government officials to the disadvantage and detriment of the Philippine Government and the Filipino people;
ACCORDINGLY, an “Ad-Hoc FACT-FINDING COMMITTEE ON BEHEST LOANS” is hereby created to be composed of the following:
Chairman of the Presidential Commission on Good Government – Chairman The Solicitor-General – Vice Chairman Representative from the Office of the Executive Secretary – Member Representative from the Department of Finance – Member Representative from the Department of Justice – Member Representative from the Development Bank of the Philippines – Member Representative from the Philippine National Bank – Member Representative from the Asset Privatization Trust – Member Government Corporate Counsel – Member Representative from the Philippine Export and Foreign Loan Guarantee Corporation – Member
The Ad-Hoc Committee shall perform the following functions:
1. Inventory all behest loans; identify the lenders and borrowers, including the principal officers and stockholders of the borrowing firms, as well as the persons responsible for granting the loans or who influenced the grant thereof; 2. Identify the borrowers who were granted “friendly waivers,” as well as the government officials who granted these waivers; determine the validity of these waivers; 3. Determine the courses of action that the government should take to recover those loans, and to recommend appropriate actions to the Office of the President within sixty (60) days from the date hereof.
The Committee in hereby empowered to call upon any department, bureau, office, agency, instrumentality or corporation of the government, or any officer or employee thereof, for such assistance as it may need in the discharge of its functions.
This Administrative Order shall take effect immediately.
DONE in Manila, Philippines, this 8th day of October, in the year of Our Lord, nineteen hundred and ninety-two.
(Sgd.) FIDEL V. RAMOS
President of the Philippines
By the President:
(Sgd.) EDELMIRO A. AMANTE, SR.