Law Summary
Introduction
Executive Order No. 362, issued on June 28, 1989, by President Corazon C. Aquino, extends the operational period of the Central Visayas Regional Projects Office (CVRPO) to facilitate the completion of World Bank-assisted projects.
Creation and Initial Term of CVRPO
- Legal Principle: The CVRPO was created under Executive Order No. 907, series of 1983.
- Initial Term: The initial lifespan of the CVRPO was set for six years from its effective date, September 10, 1983.
- Provision for Extension: The President may extend the office's life if deemed necessary for operational effectiveness.
Reasons for Extension
- World Bank Projects: The CVRP, funded under Loan No. 2360-PH, is expected to conclude by December 31, 1991.
- Recommendations for Extension: The Region VII Regional Development Council and the National Economic and Development Authority (NEDA) have advocated for the extension to complete ongoing projects.
Extension of the CVRPO's Life
- New Term: The life of the CVRPO is extended until December 31, 1991.
- Objective: This extension is specifically to facilitate the completion of the World Bank-assisted CVRP.
Operational Guidelines
- Governance: The CVRPO and its Board must operate according to the provisions of Executive Order No. 907.
- Coordination: The NEDA will coordinate with the CVRPO to ensure compliance with the terms of the Loan Agreements related to the CVRP.
Effective Date
- Immediate Effect: This Executive Order takes effect immediately upon issuance.
Key Details
- Signing Authority: Signed by President Corazon C. Aquino and Executive Secretary Catalino Macaraig, Jr.
- Location of Signing: City of Manila on June 28, 1989.
Key Takeaways
- The CVRPO's operational life is extended to December 31, 1991, to complete World Bank-funded projects.
- The extension is backed by recommendations from NEDA and the Regional Development Council.
- The CVRPO must adhere to governance guidelines established in prior Executive Orders.
- This order is effective immediately, allowing the CVRPO to continue its functions without interruption.