Composition and Qualifications of the Board of Directors
- CIAC governance vested in a Board of Directors of up to eleven (11) members.
- Members representing BCDA and other government agencies nominated by the President of the Philippines.
- Nominees must be Filipino citizens with good moral character and recognized competence in relevant fields (civil aviation, economics, tourism, law, engineering).
- Board powers and structure consistent with Section 16 of Republic Act 7227.
Capitalization and Equity Contributions
- BCDA to determine CIAC capitalization.
- Capitalization to include:
- Cash equity from BCDA;
- Government lands within the Clark Aviation Complex and improvements thereon;
- Other government assets transferred by the President.
Transfer of Assets from Clark Air Base
- BCDA to transfer to CIAC permanent improvements and fixtures over approximately 2,200 hectares of Clark Aviation Complex.
- Transfer covers the Clark Air Base Proper as declared under Proclamation No. 163, s. 1993.
Government Support and Coordination
- All government departments, bureaus, agencies, and instrumentalities directed to support the development program of CIAC.
- Coordination with BCDA mandated to facilitate approvals for conversion program implementation.
Repeal and Effectivity
- Repeal or modification of inconsistent orders, rules, regulations to conform with this Executive Order.
- Immediate effectivity upon issuance on August 16, 1996.