Amend EO 380-A on PRA Subsidiary PEATC

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EXECUTIVE ORDER NO. 380-B: Amend EO 380-A on PRA Subsidiary PEATC

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Title Supreme Court: Amend EO 380-A on PRA Subsidiary PEATC

Law: Executive Order No. 380-b

Decision Date: Dec 15, 2006

Gloria Macapagal Arroyo's Executive Order No. 380-B separates the Public Estates Authority Tollway Corporation from the Philippine Reclamation Authority, establishing it as an independent entity while maintaining its status as a PRA subsidiary.

executive order

administrative law

A

Status of Public Estates Authority Tollway Corporation (PEATC)

PEATC is a subsidiary corporation of PRA.
It is registered with the Securities and Exchange Commission (SEC), indicating it is a separate corporate entity.

Previous Provisions on PEATC Board Appointments

Section 2 of Executive Order No. 380-A (April 3, 2006) provided that the Chairman and members of the PEATC Board were to be appointed by the President of the Philippines.

Amendments Introduced by Executive Order No. 380-B

The new Section 2 reclassifies PEATC as a spun-off corporation with its own management and supervision.
Despite autonomy in management, PEATC remains a recognized subsidiary of PRA.
PEATC is required to remit dividends derived from its operations to PRA.

Revocation and Amendment Clause

All prior executive orders, rules, regulations, and issuances inconsistent with this Executive Order are revoked, amended, or modified accordingly.

Effectivity of the Order

This Executive Order takes effect immediately upon its publication in a national newspaper of general circulation.

Important Legal Concepts

Corporate autonomy with retention of subsidiary status balances operational independence with financial accountability through dividend remittance.
The President retains authority over PRA through executive issuance.
Legal formalities such as SEC registration affirm corporate legitimacy of subsidiaries under government authorities.

END