Legal basis and governing charter
- Executive Order No. 830 is enacted by the President under the powers vested by Presidential Decree No. 1416.
- Executive Order No. 830 amends Executive Order No. 603, which created the Light Rail Transit Authority (LRTA).
- Executive Order No. 603 originally established an authorized capital of Five Hundred Million Pesos (P500,000,000.00) to be subscribed by the Republic of the Philippines and other government institutions, corporations, instrumentalities, and agencies, national or local, within their respective charters.
Policy statement and purpose
- Executive Order No. 830 affirms that national economic growth, stability, and security require an efficient, adequate, economical, safe, convenient, and dependable transportation system responsive to metropolitan needs.
- Executive Order No. 830 recognizes the need to increase the LRTA’s equity requirements for the prosecution of LRTA projects in Metro Manila.
- Executive Order No. 830 directs an increase in the LRTA’s authorized capital to support LRTA projects.
Capitalization rule for LRTA
- Section 1 amends Article 6, Section 15 of Executive Order No. 603 on Capitalization and Financing.
- The LRTA must have an authorized capital of THREE BILLION PESOS (P3,000,000,000.00).
- The authorized capital of P3,000,000,000.00 must be fully subscribed by the Republic of the Philippines and other government institutions, corporations, instrumentalities, and agencies, whether national or local.
- Subscription must be within the framework of each subscribing entity’s respective charter.
Repeal, amendment, and modification
- Section 2 repeals, amends, or modifies any laws, decrees, orders, rules and regulations, policies, programs, or part thereof that are inconsistent with Executive Order No. 830.