EXECUTIVE ORDER NO. 309

: The Bases Conversion Development Authority (BCDA) is the government authority responsible for these transactions.
: The proceeds shall be distributed equally, 50% to BCDA and 50% to the Armed Forces of the Philippines (AFP).
: No, it covers the proceeds of all such transactions, including those previously executed.
: Only direct expenses specifically incurred for the transaction are deducted. These are expenses that would not have been incurred but for the transaction, and they are jointly determined by BCDA and the Department of National Defense (DND).
: The BCDA's share is considered its corporate income, and its utilization is determined by the BCDA Board of Directors.
: The AFP's share shall be utilized for the AFP Modernization Program under Republic Act No. 7898. Proceeds received after the termination of this program may be used for multi-year obligations related to the program or other modernization projects approved by the AFP and the Secretary of National Defense.
: Within two weeks after receipt of actual payment, BCDA must remit AFP's share directly to the Armed Forces of the Philippines Modernization Act Trust Fund (Fund 172) in the Bureau of the Treasury.
: It took effect immediately upon issuance on November 3, 2000.