MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ MEMORANDUM ORDER NO. 523, July 8, 1975 ]
The Chairman and Members
Board of Directors
National Development Company
Manila
To achieve a comprehensive representation for the National Government and, to safeguard public interest in the realty corporations controlled by the National Development Company that have acquired the lands owned by United States firms upon the expiration of the Laurel-Langley Agreement, the following government personnel shall be elected members of the Boards of Directors of said realty corporations:
| 1. Chairman Constante Fariñas National Development Company |
– |
to represent |
| 2. Atty. Lilia R. Bautista Board of Investments |
– |
to represent |
| 3. Atty. Joselia J. Poblador |
– |
to represent Office of the President |
| 4. a representative of the Department of Finance |
| 5. a representative of the Department of Justice |
The total membership of the Boards of Directors of said realty corporations shall neither be less than seven (7) nor more than nine (9) directors. The other members shall be elected to represent non-government interests, i.e., partner-U.S. firms.1aшphi1
For strict compliance.
By authority of the President:
(SGD.) ALEJANDRO MELCHOR
Executive Secretary
Manila, July 8, 1975
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