Law Summary
Transfer of Responsibilities to the Development Bank of the Philippines
- The responsibility for collecting accounts receivable from end-users of reparations goods is transferred to the Development Bank of the Philippines (DBP).
- The DBP is already involved in collecting payments related to disposed reparation goods, making it the more effective agency for this task.
Transfer of Records
- All pertinent records held by the Reparation Commission are to be transferred to the DBP.
- This ensures continuity and preservation of documentation necessary for collection and administrative purposes.
Liquidation of Assets and Liabilities
- The Board of Liquidators will undertake the liquidation of the assets and liabilities of the now-abolished Reparation Commission.
- This provides a formal mechanism to settle all remaining financial obligations and assets of the Commission.
Legal Authority and Implementation
- The President acts under the authority granted by the Philippine Constitution and Presidential Decree No. 1416, which allows for reorganization of government administrative structures.
- The Executive Order takes effect on December 31, 1980, providing a clear timeline for the transition.
Summary of Legal and Administrative Implications
- The Executive Order streamlines the government’s handling of reparations-related financial matters by consolidating functions within the DBP.
- It reflects an administrative reorganization aimed at efficiency following the conclusion of the Japanese war reparations agreement.
- The use of the Board of Liquidators ensures proper closure of the Reparation Commission’s financial affairs.
- The transfer of records and responsibility helps maintain administrative continuity and upholds the government's capacity to collect outstanding receivables.