Powers, Duties, and Functions of LASEDECO
- Facilitate acquisition, settlement, and cultivation of agricultural lands.
- Provide ownership opportunities to tenants, small farmers, graduates of agricultural schools, military trainees, veterans, guerrilla members, and other board-approved persons.
- Encourage migration to less populated areas and integration within Philippine regions.
- Acquire public agricultural lands from the government, conduct surveys, subdivide land for various public uses, and sell these lands to qualified buyers under constitutional and Public Land Act constraints.
- Restricts alienation or encumbrance of granted lands for 10 years, except by inheritance; allows mortgages on improvements or crops.
- Establish credit agencies, utilities (electricity, water), irrigation, cooperatives, and other settler services.
- Promote mechanized farming, operate agricultural machinery pools, and maintain training centers.
- Support establishment of agricultural and vocational schools in its jurisdiction with provisions for student land ownership upon course completion.
- Authorized to perform all necessary incidental activities and exercise corporate powers consistent with this Order.
Capital and Liability
- Capital comprised of net worth from dissolved entities: National Land Settlement Administration, Rice and Corn Production Administration, and Machinery and Equipment Department of the National Development Company.
- Includes appraised value of lands transferred.
- Government is not liable for debts or obligations incurred by LASEDECO.
Management Structure
- Managed by a Board of Directors: a chairman and six members appointed by the President with Commission on Appointments approval.
- Directors serve staggered terms initially; successors serve three-year terms.
- Directors receive per diem for meeting attendance.
Board of Directors’ Powers and Duties
- Authority to create and amend by-laws, rules, and regulations, including committees to expedite land disposition and title issuance.
- Appoint and set compensation for General Manager and other officers with necessary approvals.
- Have power to suspend or remove the General Manager for cause.
General Manager’s Responsibilities
- Direct and manage Corporation's affairs under Board supervision.
- Attend and participate in Board meetings without voting rights.
- Submit annual report within 60 days after fiscal year-end.
- Appoint and manage subordinate personnel including disciplinary actions.
Restrictions on Corporation Employees
- Officers and employees prohibited from acquiring land within the Corporation’s territorial jurisdiction, directly or indirectly.
Auditing and Financial Oversight
- Auditor General appoints LASEDECO’s auditor and staff.
- Audits conducted per applicable laws and commercial principles.
- Annual audit report must be submitted to key government officials within 60 days after fiscal year-end.
- Report to include financial statements, audit scope, and highlight unauthorized transactions.
Appointment and Promotion Policies
- Based strictly on merit and efficiency without political tests.
- Violators subject to removal by Secretary of Economic Coordination.
- Generally subject to Civil Service Law except certain high-level or technical positions designated by the President.
Dissolution and Transfer of Functions
- Dissolves National Land Settlement Administration, Rice and Corn Production Administration, and Machinery and Equipment Department.
- Assumes all personnel, records, assets, obligations, and contracts from these entities.
- Requires inventory, valuation, and proper transfer procedures overseen by the Auditor General.
- Personnel not reappointed within 60 days considered separated.
- Agricultural operations of the Rice and Corn Production Administration to continue only within existing cultivated areas up to five years post-effectivity.
Land Titles and Transfers
- Public agricultural lands previously assigned or reserved for dissolved entities, and future transfers, ceded to LASEDECO.
- President authorized to issue patents or deeds transferring land titles per Public Land Act.
Repealing and Miscellaneous Provisions
- Repeals or modifies inconsistent laws, orders, or proclamations.
- Provides severability clause ensuring other provisions remain effective if one is invalidated.
- Order effective October 23, 1950.