EXECUTIVE ORDER NO. 629

: The President of the Philippines has the authority to abolish the Reparations Commission, as exercised by President Ferdinand E. Marcos under the powers vested by the Constitution and Presidential Decree No. 1416.
: The responsibilities, including the collection of accounts receivable from end-users of reparations goods, are transferred to the Development Bank of the Philippines.
: All pertinent records of the Reparations Commission are transferred to the Development Bank of the Philippines.
: The Board of Liquidators is tasked with undertaking the liquidation of assets and liabilities of the abolished Reparations Commission.
: It took effect on December 31, 1980.
: The President's continuing authority under Presidential Decree No. 1416 allows for the reorganization of the administrative structure of the National Government.
: The Japanese war reparations agreement had already terminated, prompting the abolition of the Reparations Commission.
: The Development Bank of the Philippines was already effectively collecting payments for disposed reparations goods, making it suitable to take over the related responsibilities.
: Juan C. Tuvera, Senior Presidential Assistant, signed the order by the President.