Executive Order No. 1031




EXECUTIVE ORDER NO. 1031 June 11, 1985 REORGANIZING THE PHIVIDEC INDUSTRIAL AUTHORITY WHEREAS, the PHIVIDEC Industrial Authority (PIA) was established to plan, coordinate and undertake the construction of well-planned industrial areas with appropriate infrastructure facilities, which will encourage and facilitate the establishment of industries to promote, contribute and sustain the economic and social growth of the country; WHEREAS, to enable the PIA to effectively discharge its functions and attain its purposes and objectives, there is a need to strengthen and upgrade the corporate structure and management of the PIA by making its Board of Directors separate and distinct from that of the PHIVIDEC; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and by law, particularly Presidential Decree No. 1416, as amended, do hereby order the reorganization of the PHIVIDEC Industrial Authority, as follows: Sec. 1. Section 6 of Presidential Decree No. 538, as amended, is hereby further amended to read as follows: "Sec. 6. Exercise of Corporate Powers. The affairs and business of the Authority shall be directed, and its properties managed, controlled and preserved by a Board of Directors, hereinafter referred to as the Board, which shall be composed of the following: the Minister of Finance or his duly designated representative as ex-officio member, the Minister of Trade and Industry or his duly designated representative as ex-officio member, and seven (7) other members to be appointed by the President of the Philippines, upon the recommendation of the Minister of National Defense, for a term of three (3) years from among qualified veterans and retirees of good standing, their dependents, or persons who are in active military service: Provided, That no person shall be appointed member of the Board, unless he is of unquestioned integrity and has experience and expertise in finance, management, economics, law of government administration. Should there be any vacancy by reason of death, permanent incapacity, removal or resignation of any appointive member, the person appointed to fill the vacancy shall serve only for the unexpired portion of the term of his predecessor. "The President of the Philippines shall designate the Chairman of the Board from among the appointive members. In case of absence or temporary incapacity of the Chairman, the Vice-Chairman shall act as Chairman. In case of absence or temporary incapacity of both the Chairman and the Vice-Chairman, the Board, by a majority vote, shall designate an acting Chairman from among its members. "The chief executive officer of the Authority and ex-officio Vice-Chairman of the Board shall be the Administrator appointed by the President of the Philippines from among the members of the Board. The Board shall determine the other executives and officers of the Authority. "The Board shall meet regularly at least once a month, and as often as the exingencies demand. The presence of at least five (5) members shall constitute a quorum, and the majority vote of the members present, there being a quorum, shall be necessary for the adoption of any resolution, decision, rule, regulation, or any other act of the Board. "For every meeting actually attended, each member of the Board shall receive a per diem of P300.00, unless the Board shall fix a higher amount therefor." Sec. 2. The present members of the Board shall holdover until their successors shall have been duly appointed and qualified pursuant to this Executive Order; Provided, That the Ministers of Finance and Trade & Industry, or their duly designated representatives, shall immediately sit as members of the existing Board. Sec. 3. Any provision of law, decree, executive order, rule or regulation, inconsistent with his Executive Order, is hereby repealed, amended or modified accordingly. Sec. 4. This Executive Order shall take effect immediately. DONE in the City of Manila this 11th day of June in the year of Our Lord, nineteen hundred and eighty-five. The Lawphil Project - Arellano Law Foundation