Legal basis and governing statute
- Executive Order No. 471 is issued under the powers vested by Republic Act No. 650, titled “An Act to Regulate Imports and for other purposes.”
- Executive Order No. 471 operates by revising Appendix A of Republic Act No. 650.
- Executive Order No. 471 is issued upon the recommendation of the Import Control Commission.
Policy and purpose statement
- Executive Order No. 471 regulates imports by revising import control schedules and by banning the importation of certain commodities listed in Annex B and Annex C.
Revised import control appendix
- Appendix A, Republic Act No. 650 is revised as set out in Annex A attached to Executive Order No. 471.
- Annex A forms an integral part of Executive Order No. 471 and governs the revised listing under Appendix A.
Importation bans under Annex B and Annex C
- The importation of any item listed in Annex B is banned under Executive Order No. 471.
- The Annex B ban is effective effective immediately.
- The importation of any item listed in Annex C is banned under Executive Order No. 471.
- The Annex C ban is effective effective July 1, 1952.
- The banned commodities are identified by reference to Annex B and Annex C, each made part of Executive Order No. 471.
ECA authorization procedure and licensing restriction
- Goods imported under ECA Procurement Authorizations are prohibited from being licensed by the Import Control Commission.
- Applicants for ECA Procurement Authorization goods must apply to an Authorized Agent of the Central Bank of the Philippines for the necessary letters of credit.
- The Authorized Agent who receives the application must apply in turn to the Central Bank of the Philippines for the covering Procurement Sub-Authorizations.
- Executive Order No. 471 channels the ECA procurement import process away from Import Control Commission licensing and into the Central Bank letters of credit and sub-authorization flow.
- The governing import procedure for ECA goods is the sequence: applicant → Authorized Agent of the Central Bank (letters of credit) → Central Bank (covering Procurement Sub-Authorizations).
Administrative implementation points
- The Import Control Commission does not license goods imported under ECA Procurement Authorizations.
- The Central Bank of the Philippines is the authority that receives applications for covering Procurement Sub-Authorizations through the Authorized Agent process.
- The Authorized Agent of the Central Bank of the Philippines is the intermediary for securing the necessary letters of credit for applicants.