Question & AnswerQ&A (EXECUTIVE ORDER NO. 56)
All articles subject to sale under Sections 2601 to 2612 of the Customs and Tariff Code shall be sold in accordance with such sections and the provisions of Executive Order No. 56.
The Commissioner of Customs must submit the list of items or lots and their minimum bid prices for approval by the Secretary of Finance before the items can be sold.
Items or lots with a minimum bid price of 50 million pesos or more require further approval by the President.
Only two public biddings are allowed for each item or lot and these must be held within ten (10) days of each other.
Yes, any change in the minimum bid price must be approved by the Secretary of Finance.
The Commissioner of Customs must prepare and submit to the Secretary of Finance a list of items or lots that were not sold after two public auctions along with a recommendation for their distribution, further sale, or disposition.
The Secretary of Finance must submit its recommendation regarding the unsold items to the Office of the President for approval within ten days of receipt.
All executive orders, administrative orders, proclamations, rules, and regulations or parts thereof that are inconsistent with Executive Order No. 56 are repealed or modified accordingly.
Yes, it provides a separability clause stating that if any provision of the Executive Order is held unconstitutional, the other provisions shall not be affected.
Executive Order No. 56 took effect immediately upon its issuance on January 8, 1999.