Transformation of Public Estates Authority

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EXECUTIVE ORDER NO. 380: Transformation of Public Estates Authority

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Title Supreme Court: Transformation of Public Estates Authority

Law: Executive Order No. 380

Decision Date: Oct 26, 2004

Executive Order No. 380 transfers the powers and functions of the Public Estates Authority to the Philippine Reclamation Authority, while non-reclamation enterprises are transferred to the National Development Company, with the Chairman, members of the Board, and president of the PEA-TC appointed by the President of the Philippines.

reclamation activities

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Governance and Earnings Management of the PEA-Tollway Corporation (PEA-TC)

The President appoints the Chairman, Board members, and President of the PEA-TC.
Management of the PEA-TC falls under the supervision and control of the NDC.
PEA-TC is required to declare monthly dividends.
Dividends equivalent to the PRA’s operational needs must be remitted to the PRA.
Remaining earnings after PRA’s share are remitted to the National Government.

Transfer and Allocation of Assets and Liabilities of the Former PEA

All assets and liabilities of the PEA not related to reclamation are transferred without cost to the Department of Finance (DOF).
Assets and liabilities related to reclamation functions remain with the PRA.
The DOF is charged with transferring the non-reclamation assets and liabilities to the appropriate government agencies.

Separability Clause

Any provision declared unconstitutional shall not nullify the entire Executive Order.
Remaining provisions will continue to be effective if they can subsist independently.

Repealing Clause

All prior executive issuances, rules, regulations, or parts thereof inconsistent with this Executive Order are revoked, amended, or modified accordingly.

Effectivity

The Executive Order takes immediate effect upon promulgation.

END