Labor Dept to Replace PNB for CA 600 Goals

Section 2 of Commonwealth Act No. 600 empowers the President of the Philippines to designate any department, bureau, office, or instrumentality of the National Government to carry out the objectives of Commonwealth Act No. 600.
Executive Order No. 345 designates the Department of Labor as such an agency for the objectives of Commonwealth Act No. 600.
Executive Order No. 345 transfers the remaining cash funds and other interests of the Philippine National Bank from the prior arrangement under Executive Order No. 301.

Commonwealth Act No. 600 targets ensuring the people adequate shelter and clothing and a sufficient food supply.
Executive Order No. 345 fulfills these objectives by having the Department of Labor extend credit facilities to tenants who need support between harvest seasons.
Credit facilities under Executive Order No. 345 also cover expenses incident to the purchase of seeds and the proper cultivation of the land worked by the tenants.

The Department of Labor is designated as one of the agencies to carry out the objectives of Commonwealth Act No. 600.
The Department of Labor undertakes the extension of credit facilities to tenants for support during the period between harvest seasons.
The extension of credit facilities is for expenses incident to the purchase of seeds and the proper cultivation of the land that tenants work.

The credit facilities are provided under such conditions as the Secretary of Labor may determine.
The Secretary of Labor’s conditions govern how and under what requirements credit is extended to tenants.
The credit program’s purpose remains fixed on: (1) support between harvest seasons and (2) seeds and cultivation expenses.

Executive Order No. 345 transfers to, vests in, and assumes by the Department of Labor the remaining cash funds out of the sum of one million pesos released under Executive Order No. 301 dated September 10, 1940 to the Philippine National Bank.
The transfer is tied to the appropriation provided in Commonwealth Act No. 498 pursuant to Section 5 of Commonwealth Act No. 600.
Executive Order No. 345 also transfers all other assets, properties, rights, choses in action, obligations, and contracts of the Philippine National Bank during its incumbency as an agency of the National Government to carry out the objectives of Commonwealth Act No. 600.

The Secretary of Labor is authorized to disburse the funds transferred for the purposes stated in Executive Order No. 345.
Disbursements are subject to the approval of the President.
The Secretary of Labor is empowered to appoint the necessary personnel to carry out the purposes of Executive Order No. 345.

The Secretary of Labor must render a report on the condition and operation of the transferred funds to the President of the Philippines.
The report must be submitted at the end of every month.
The reporting duty covers the condition and operation of the funds administered by the Department of Labor under Executive Order No. 345.

Executive Order No. 345 supersedes Executive Order No. 301 dated September 10, 1940.
The supersession operates to shift the credit-facilitating functions and administration from the Philippine National Bank to the Department of Labor under the objectives of Commonwealth Act No. 600.