EXECUTIVE ORDER NO. 380-B

: The main purpose of Executive Order No. 380-B is to amend Section 2 of Executive Order No. 380-A dated April 3, 2006, specifically regarding the status and management of the Public Estates Authority Tollway Corporation (PEATC) as a separate corporation recognized as a subsidiary of the Philippine Reclamation Authority (PRA).
: The Public Estates Authority (PEA) was transformed into the Philippine Reclamation Authority (PRA) by Executive Order No. 380 dated October 26, 2004.
: PEATC is a subsidiary corporation of the PRA registered with the Securities and Exchange Commission (SEC) and continues to be recognized as such after the amendment.
: PEATC is spun off as a separate corporation with its own management and supervision but remains a subsidiary of the PRA.
: PEATC shall remit to the PRA whatever dividends it may derive from its operations.
: The Chairman and members of the PEATC Board are appointed by the President of the Philippines according to the original Section 2 of EO No. 380-A.
: Yes, EO No. 380-B revokes, amends, or modifies all executive orders, rules and regulations, and other issuances or parts thereof inconsistent with this Executive Order.
: The Executive Order took effect immediately upon its publication in a national newspaper of general circulation.
: The Public Estates Authority (PEA) was originally created by Presidential Decree (PD) No. 1084.