Question & AnswerQ&A (EXECUTIVE ORDER NO. 2)
The primary purpose is to freeze and recover funds, moneys, assets, and properties illegally acquired or misappropriated by former President Ferdinand Marcos, Imelda Romualdez Marcos, and their associates to prevent their dissipation and ensure due process.
Former President Ferdinand Marcos, Imelda Romualdez Marcos, their close relatives, subordinates, business associates, dummies, agents, or nominees are covered by this Executive Order.
Assets include accounts, deposits, trust accounts, shares of stocks, buildings, shopping centers, condominiums, mansions, residences, estates, and other real and personal properties within the Philippines and abroad.
The PCGG is charged with the responsibility of recovering the assets and properties identified, investigating claims regarding such assets, and requesting assistance from foreign governments to freeze and prevent the dissipation of these assets.
All persons holding assets or properties in their name as nominees, agents, or trustees must disclose the same fully to the PCGG within 30 days from the publication of the Order in newspapers.
Any transfer, conveyance, encumbrance, depletion, concealment, or dissipation of said assets or properties by involved persons or those assisting them is prohibited under pain of legal penalties.
No, they are prohibited from transferring, conveying, encumbering, concealing, or dissipating said assets pending the outcome of legal proceedings to determine illegal acquisition.
The PCGG is authorized to request and appeal to foreign governments to freeze or prevent the transfer, conveyance, encumbrance, concealment, or liquidation of said assets abroad.
The Order asserts that Marcos, his wife, and associates be afforded a fair opportunity to contest claims before appropriate Philippine authorities in accordance with the requirements of justice and due process.
Persons assisting or taking part in the transfer, encumbrance, concealment, or dissipation of the assets face penalties as prescribed by Philippine law.