Purpose and governing policy statement
- The Order directs reorganization of the Governing Board to meet exigencies of the times.
- The reorganization is intended to provide more effective means of reforming the coconut industry.
Amendment to governing board composition
- Section 1 amends Section 4 of Article II of Presidential Decree No. 1468, as amended by Executive Order No. 1055.
- The amended Section 4 establishes that the corporate powers and duties of the Authority are vested in and exercised by a Governing Board.
- The Governing Board consists of seven (7) members.
- The President appoints the seven (7) members of the Governing Board.
Repeal of inconsistent issuances
- Section 2 repeals or modifies all laws, decrees, orders, proclamations, rules, regulations, and issuances, or parts thereof, that are inconsistent with the Executive Order’s provisions.
- The repeal or modification operates only to the extent of inconsistency with the Executive Order’s rules.