Powers, Duties, and Functions of LASEDECO
- Facilitates acquisition, settlement, and cultivation of agricultural lands.
- Provides farm ownership opportunities for tenant farmers, small farmers, agricultural graduates, military trainees, veterans, guerrilla members, and other qualified persons.
- Encourages migration to less populated areas and integration of diverse populations.
- Acquires public agricultural lands, surveys, subdivides, and disposes of land for farming and townsite purposes within constitutional limits.
- Restricts transfer or encumbrance of lands for 10 years, except by inheritance.
- Establishes and operates related services including credit agencies, utilities, irrigation, cooperatives.
- Encourages mechanized farming and maintains centers for agricultural machinery training and repair.
- Assists in establishing agricultural and vocational schools and allocates lands for students to acquire titles.
- Authorized to perform necessary and incidental acts and exercise corporate powers under corporation law, consistent with the Order.
Capitalization and Government Liability
- Capital includes net worth of dissolved entities (National Land Settlement Administration, Rice and Corn Production Administration, and Machinery and Equipment Department) and appraised lands.
- Government is not liable for LASEDECO’s debts or obligations.
Management Structure
- Board of Directors: Chairman and six members appointed by the President with Commission on Appointments’ consent.
- Initial staggered terms (1, 2, 3 years), successors serve 3-year terms.
- Directors receive per diem for attendance.
- Board powers include adopting by-laws, appointing General Manager and officers with specified approvals.
Powers and Duties of the General Manager
- Manages day-to-day affairs under Board supervision.
- Participates in Board meetings without voting rights.
- Submits annual reports to Secretary of Economic Coordination.
- Appoints and supervises subordinate personnel with Board approval.
Restrictions on Officers and Employees
- Prohibits acquisition of land within LASEDECO territorial jurisdiction by officers and employees, directly or indirectly.
Financial Oversight
- Auditor General appoints Auditor and staff for LASEDECO.
- Auditing follows applicable laws and principles for corporate transactions.
- Annual audit reports submitted to Board, President, Secretary of Economic Coordination, and Congress leaders.
- Reports on audit scope, financial statements, recommendations, and unauthorized transactions to be included.
Employment Policies
- Appointment and promotion based on merit and efficiency; political tests prohibited.
- Violation may result in removal upon Secretary of Economic Coordination’s finding.
- Civil Service Law applies except for positions declared policy-determining, confidential, or technical by the President upon recommendations.
Dissolution and Transfer of Predecessor Agencies
- Dissolves National Land Settlement Administration, Rice and Corn Production Administration, and Machinery and Equipment Department.
- Transfers all personnel, assets, rights, obligations, contracts, and records to LASEDECO.
- Inventory and valuation conducted by Auditor General; accountability maintained until transfer completed.
- Agricultural activities of the Rice and Corn Production Administration continued by LASEDECO within existing cultivated areas.
Land Transfer and Title
- Surveyed public agricultural lands previously or newly transferred to LASEDECO shall be officially ceded.
- President to issue patents or deeds of title in accordance with law and regulations.
Miscellaneous Provisions
- Repeals or modifies conflicting laws, executive orders, and proclamations.
- Severability clause ensuring other provisions remain effective if any part is invalidated.
- Effectivity date: October 23, 1950.