Question & AnswerQ&A (EXECUTIVE ORDER NO. 11)
The purpose of Executive Order No. 11 is to extend the term of the Committee on Privatization and the Asset Privatization Trust from August 31, 1992, to December 31, 1993, allowing them to continue their work on privatization.
The extension is based on Section 1 of Republic Act No. 7181, which allows the President of the Philippines to extend the term for not more than sixteen (16) months after August 31, 1992.
During the extended period, the Committee and Trust shall continue to exercise the powers, duties, and responsibilities provided under Proclamation No. 50, issued on December 8, 1986, as amended, including substantially completing the privatization of undisposed corporations and assets, especially the big-ticket items.
The extension takes effect immediately as stated in Section 5 of the Executive Order, which was issued on August 10, 1992.
Under Section 3, if any portion or provision is declared unconstitutional or invalid, it will not nullify the other parts as long as the remaining portions can still be given full effect.
Section 4 repeals or modifies all orders, proclamations, rules, regulations, issuances, or parts thereof that are inconsistent with any provisions of Executive Order No. 11.
'Big-ticket items' refer to major corporations and assets that are prioritized for privatization during the extended period of the Committee on Privatization and the Asset Privatization Trust.
Proclamation No. 50, issued on December 8, 1986, is the initial legal framework under which the Committee on Privatization and the Asset Privatization Trust exercise their powers, duties, and responsibilities related to privatization.
The maximum extension period allowed by R.A. No. 7181 is sixteen (16) months.