Asset Disposition Program for Iloilo Airport

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EXECUTIVE ORDER NO. 282: Asset Disposition Program for Iloilo Airport

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Title Source: Supreme Court: Asset Disposition Program for Iloilo Airport

Law: Executive Order No. 282

Decision Date: Feb 17, 2004

An executive order establishes a program to manage the sale or disposition of the existing Iloilo Airport in the Philippines, with the proceeds being utilized in accordance with applicable laws and regulations.

Law Summary

Scope and Coverage of the Asset Disposition Program

The ADP specifically covers the disposition of the existing Iloilo Airport.
Its mandate is limited to devising plans and overseeing the process for the sale or disposition of this particular airport facility.

Functions and Authority of the ADP

The ADP is tasked with studying and evaluating plans of action regarding the existing Iloilo Airport.
It has authority to manage and handle the entire disposition or sale process.
The program evaluates alternative means to achieve optimal value from the existing airport/site.

Utilization and Management of Proceeds

Proceeds from the sale or disposition must be used strictly in accordance with existing laws and regulations.
Guidelines from the Department of Finance shall govern the use of funds derived from the asset disposition.

Duration and Termination of the ADP

The ADP shall remain operational until it successfully fulfills its intended purpose.
The program ceases to exist once the disposition of the existing Iloilo Airport is completed and objectives are achieved.

Effectivity Clause

The Executive Order takes effect immediately upon issuance.
The order formalizes the directive to establish and operationalize the ADP for the existing Iloilo Airport without delay.

END