MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Memorandum Circular No. 421, December 15, 1970 ]
CREATING A COMMITTEE TO UNDERTAKE THE DISPOSITION OF THE ENTIRE TOBACCO STOCK OF THE PHILIPPINE VIRGINIA TOBACCO ADMINISTRATION (PVTA).
A Committee is hereby created to undertake the disposition of the entire PVTA tobacco stock composed of the following:
| The Secretary of Finance |
Chairman |
| The Secretary of Justice | 1âшphi1
Member |
| The Auditor General |
“ |
| The General Manager, PVTA |
“ |
| A Representative of the Liberal Party |
“ |
The PVTA Board shall set the conditions for the sale of the PVTA stock to include, among other things, the requirements pertaining to deposit, bond and the payment of certain percentage of the cash value of the stock sold within thirty (30) days.
The Committee shall devise ways and means of disposing the PVTA tobacco stock expeditiously in accordance with the conditions that may be set by the PVTA Board regarding the sale thereof.
For this purpose, the Committee may call upon any department, bureau, office, agency or instrumentality of the government including government owned or controlled corporations, for such assistance as it may need in the accomplishment of its task.
This Circular takes effect immediately.
By authority of the President:
(SGD.) ALEJANDRO MELCHOR
Executive Secretary
Manila, December 15, 1970
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