Mandate and Scope of the Commission
- Tasked with recovering all ill-gotten wealth amassed by former President Ferdinand E. Marcos and related parties.
- Covers assets located both domestically and abroad.
- Includes investigation of graft and corruption cases as assigned by the President.
- Responsible for instituting safeguards to prevent recurrence of corruption.
Powers and Authority of the Commission
- Authority to conduct necessary investigations.
- Power to sequester buildings, offices, and records related to ill-gotten wealth.
- Can provisionally take over business enterprises and properties linked to Marcos or associates.
- Empowered to enjoin or restrain acts that may frustrate its objectives.
- May administer oaths and issue subpoenas for witnesses and documents.
- Can hold persons in contempt and impose penalties as per the Rules of Court.
- May seek assistance from any government office or agency.
- Authorized to promulgate necessary rules and regulations.
Legal Protections and Immunities
- No civil actions allowed against the Commission or its members for acts done in official duties.
- Members and staff are exempt from testifying or producing evidence regarding official matters.
Funding Allocation
- An initial amount of Fifty Million Pesos is allocated from the National Treasury to support the Commission's functions, subject to availability.
Effectivity
- The Executive Order takes effect immediately upon issuance.