Retention of PCA's Charter
- The charter of the PCA under Presidential Decree No. 232, as amended by Presidential Decrees Nos. 961 and 1468, remains valid and in force.
- This ensures the continuation of PCA's existing legal and organizational framework.
Rationale for Revocation
- Executive Order No. 494 had not yet taken effect at the time of this revocation.
- Recommendation by the Secretary of Agriculture highlighted that the PCA was not subject to privatization or divestment as per Proclamation No. 50.
- The PCA combines corporate and regulatory functions, which cannot be adequately replaced by ordinary line bureau functions.
- The Department of Agriculture had not included PCA for regularization due to its unique structure.
- Public interest and present conditions were considered in deciding to maintain the PCA’s existing setup.
Effectivity
- The Executive Order takes effect immediately upon issuance.
Legal Authority
- The President of the Philippines exercises his powers vested by law to revoke the previous order concerning the PCA.
- The order is officially signed by the President and the Acting Executive Secretary in July 1992 in Manila.