Rules on Customs Property Public Auction

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EXECUTIVE ORDER NO. 56: Rules on Customs Property Public Auction

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Title Supreme Court: Rules on Customs Property Public Auction

Law: Executive Order No. 56

Decision Date: Jan 8, 1999

Executive Order No. 56 establishes rules for the sale of property through public auction by the Bureau of Customs in the Philippines, including the submission of item lists and minimum bid prices for approval, limitations on public biddings, guidelines for handling unsold items, and the repeal or modification of conflicting orders and regulations.

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Approval Process for Auction Items

Commissioner of Customs must submit a detailed list of items/lots intended for sale, including the minimum bid prices.
List and minimum bid prices require approval by the Secretary of Finance before any sale.

Additional Approval for High-Value Items

Items/lots with a minimum bid price of Fifty Million Pesos (P50,000,000) or more require further approval from the President of the Philippines.

Public Bidding Procedures

Only two public auctions shall be conducted for each approved item/lot.
These two auctions must be held within a period not exceeding ten (10) days from each other.
Any modifications to the minimum bid price after approval require the Secretary of Finance's consent.

Post-Auction Reporting and Disposition

The Commissioner of Customs shall, within ten (10) days after the auctions, submit a list of unsold items/lots to the Secretary of Finance.
The submission must include recommendations on the disposition or further sale of these unsold items, consistent with the Tariff and Customs Code.
The Secretary of Finance has ten (10) days from receipt to recommend forwarding the matter to the Office of the President for final approval.

Repealing Clause

All previously existing executive orders, administrative orders, proclamations, rules, regulations, or parts thereof inconsistent with this Order are repealed or modified.

Separability Clause

In case any provision of the Order is declared unconstitutional, such judgment shall not affect the validity of the remaining provisions.

Effectivity

The Order takes effect immediately upon its promulgation.
Signed and enacted on January 8, 1999, in Manila.

END