Reorganization of Government Corporations 1947

Advises the President on supervision and control over Government corporations.
Formulates policies to coordinate functions and activities of Government-owned or controlled corporations and related agencies for economic development.

Composed of the Secretary of Commerce and Industry (Chairman), a presidential appointee from the Council (Vice-Chairman), and the Council Secretary (ex officio).
Supervises Government corporations under the President's direction to ensure efficiency and economy.
Reviews and approves corporate activity programs and annual budgets.
Implements policies approved by the Government Enterprises Council and the President.

Each such corporation must have a President, general manager, or manager appointed by the Board with Presidential approval.
The managing head directs and manages corporate affairs subject to board control.
The Board may suspend or remove the managing head with Presidential approval.

Chairmen or members of boards cannot simultaneously hold other positions within the same corporation without Presidential authorization.
Exception granted to employee representatives.

National Rice and Corn Corporation becomes independent, shedding subsidiary status under the National Development Company, with assets transferred at book or par value.
Agricultural Machinery and Equipment Corporation is converted into a department under the National Development Company, transferring all properties and assets.
National Cooperatives Administration is converted into the National Cooperatives and Small Business Corporation, expanding its functions to include promotion and supervision of provincial trading corporations.

METRAN, along with its functions, personnel, equipment, and liabilities, is transferred to the Manila Railroad Company effective January 1, 1948.
The METRAN Board of Directors is abolished; its powers are transferred to the Manila Railroad Company Board.
Excess personnel are placed in a temporary plantilla, prioritized for reassignment within the railroad company or bus lines; vacancies in this plantilla are abolished.
METRAN Revolving Fund is abolished; assets and liabilities transferred to Manila Railroad Company.
Manila Railroad Company must provide motor transportation services to government offices on a rental basis, adhering to prescribed rates and regulations.

Both entities are merged and converted into the People’s Homesite and Housing Corporation.
This new corporation inherits all duties, powers, functions, personnel, records, equipment, funds, assets, and liabilities.
References to the former entities in any legal documents are deemed references to the merged corporation.

GSIS is placed under administrative supervision of the Government Enterprises Council.
Authority and control formerly held by the Secretary of Finance over GSIS and the Government Service Insurance Board transfer to the Council’s Control Committee.
References to the Secretary of Finance in relevant laws and regulations are understood as references to the Chairman of the Control Committee.

The administration of Property Insurance Law sections is transferred to GSIS.
References to the Secretary of Finance and Treasurer of the Philippines in this law are understood as references to the Chairman of the Control Committee and Manager of GSIS, respectively.

The National Produce Exchange, National Warehousing Corporation, and National Footwear Corporation are dissolved.
Their accounts are to be liquidated by the Auditor General.

All Acts, Executive Orders, Administrative Orders, or Proclamations inconsistent with this Order are repealed or modified accordingly.