Legal basis and creation background
- Executive Order No. 279 traces the earlier scheme to Executive Order No. 572, issued on 06 December 1979, which created PhilBai International Pty as a centralized cattle and meat buying agency for the Oceania Region.
- It recognizes a 07 April 1986 Memorandum under a Presidential directive that ordered the dismantling of PhilBai International.
Purpose and policy intent
- The order ends the monopoly introduced under Executive Order No. 572 in the importation of livestock from the Oceania Region.
- It aligns the government direction toward liberalizing trade and commerce and allowing free enterprise to serve as the prime mover of sustained economic development, as expressed in the whereas clauses.
Dissolution and liquidation mandate
- Section 1 orders the dissolution and liquidation of PhilCorp Pty Ltd.
- Section 1 requires the dissolution and liquidation to be conducted in accordance with Philippine and Australian laws.
Implementation responsibilities
- Section 2 assigns the Department of Agriculture and the Office of the Government Corporate Counsel the duty to take the necessary steps to effect and carry out the dissolution and liquidation process in dismantling PhilCorp Pty Ltd.
Authorized use of remaining assets
- Section 3 authorizes the Department of Agriculture to utilize the remaining assets of PhilCorp Pty Ltd.
- Section 3 limits the use of remaining assets to purchasing breeding cattle from the Oceania Region.
- Section 3 requires that the purchase be for upgrading of the local livestock.
Repeal or modification clause
- Section 4 repeals and/or modifies all orders, issuances, rules and regulations, or parts thereof, that are inconsistent with the provisions of Executive Order No. 279.