Prohibited Acts and Transactions
- Soliciting or accepting any funds, gifts, favors, loans, or anything of monetary value directly or indirectly.
- Influencing public officials to commit violations related to their duties.
- Engaging in transactions with Government or government financial institutions, including securing loans.
- Exerting undue influence on government contract bidding processes.
- Having financial or pecuniary interest in government business, contracts, or transactions.
- Using the name of the President, Vice President, or Cabinet Members to obtain government contracts or benefits.
Standard of Conduct: Simple Living
- Relatives and Close Personal Relations must lead modest lives consistent with their incomes and positions.
- They are prohibited from extravagant or ostentatious displays of wealth.
Restrictions on Government Financial Institutions (GFIs)
- GFIs are prohibited from increasing equity or investing funds in ways that confer directorship to Relatives or Close Personal Relations through equity increases or other methods.
Lawful Professional Activities
- Lawful acts by Relatives or Close Personal Relations engaged in established, traditional professions, businesses, or trades remain unaffected by this order.
Penalties and Sanctions
- Violations result in agreements or contracts with the Government being void and without effect.
- Government officials or employees who tolerate or conspire with Relatives or Close Personal Relations in violations may face suspension or removal from office.
- Criminal liabilities under existing laws apply if violations also constitute criminal offenses.
Effectivity
- The Executive Order is effective immediately upon issuance.