Repeal of EO No. 138 on Credit Policies

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EXECUTIVE ORDER NO. 558: Repeal of EO No. 138 on Credit Policies

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Title Supreme Court: Repeal of EO No. 138 on Credit Policies

Law: Executive Order No. 558

Decision Date: Aug 8, 2006

Gloria Macapagal-Arroyo repeals Executive Order No. 138, which directed government entities to adopt credit policy guidelines from the National Credit Council, effective immediately upon publication.

executive order

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Effectivity of the Repeal

This Executive Order takes effect immediately upon its publication.
Publication must be in a national newspaper of general circulation.

Issuance and Authorization

The order is issued by the President of the Republic of the Philippines, Gloria Macapagal-Arroyo.
It is executed under the powers vested in the President by law.
The Executive Secretary, Eduardo R. Ermita, signed the document as attestation.

Scope and Impact

The repeal removes the directive requiring government entities to follow the National Credit Council's credit policy guidelines.
This potentially alters the regulatory framework for government credit programs, enabling new policies or guidelines to be formulated or implemented without the binding effect of EO No. 138.

Legal Formalities

The document specifies the place and date of issuance: Manila, August 8, 2006.
It follows standard legal form requirements for executive orders, ensuring validity and enforceability.

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