Question & AnswerQ&A (EXECUTIVE ORDER NO. 380-A)
The PRA is the renamed and transformed Public Estate Authority (PEA), continuing its powers and functions under Presidential Decree No. 1084, including reclamation, development, management, and disposal of government lands especially reclaimed lands.
The PRA has the powers to reclaim land, develop, manage, dispose of lands, buildings, estates, and other real properties arising from reclamation, operate infrastructure and services on reclaimed properties, and authorize reclamation projects through public bidding.
The original agency was the Public Estate Authority (PEA) created under Presidential Decree No. 1084.
PEATC is a spun off, separate corporation recognized as a subsidiary of the PRA, with its own management and supervision. It is to remit dividends from its operations to the PRA.
The President of the Philippines appoints the Chairman and members of the Board of PEATC.
The PRA must transfer its non-reclamation assets to the National Government or to the appropriate government agency or corporation.
The PRA exercises its functions under Presidential Decree No. 1084, Executive Order No. 525, and Executive Order No. 654 as amended.
If any provision is declared unconstitutional, the unaffected provisions shall continue to be in full force and effect.
The Department of Finance.
Reclamation undertakings are identified as one of the primary sources of government revenue and are incorporated in the Medium-Term Philippine Development Plan for 2004-2010.