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MALACAÑAN PALACE
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ Memorandum Order No. 340, January 31, 1991 ]

DIRECTING THE NATIONAL BUREAU OF INVESTIGATION (NBI) TO ASSUME THE LEAD/PRIMARY ROLE IN THE IMPLEMENTATION OF CENTRAL BANK RULES AND REGULATIONS ON FOREIGN EXCHANGE TRANSACTIONS

WHEREAS, one of the principal responsibilities of the Central Bank is to maintain internal and external monetary stability, the attainment of which largely depends on the ability of government to enforce and implement Central Bank rules and regulations on the matter;

WHEREAS, it is felt necessary that the enforcement of Central Bank rules and regulations on foreign exchange transactions be entrusted primarily to the National Bureau of Investigation in coordination with Central Bank operatives and other law enforcement agencies;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:

Section 1. The National Bureau of Investigation is hereby directed to assume the lead/primary role in the enforcement of Central Bank rules and regulations on foreign exchange transactions.1aшphi1

Section 2. The other law enforcement agencies are likewise hereby directed to coordinate with the National Bureau of Investigation for the purpose of implementation of this Memorandum Order, in accordance with their respective mandates.

Section 3. This Memorandum Order shall take effect immediately.

DONE in the City of Manila, this 31st day of January, in the year of Our Lord, nineteen hundred and ninety-one.

(Sgd.) CORAZON C. AQUINO

By the President:

(Sgd.) OSCAR M. ORBOS
Executive Secretary

The Lawphil Project - Arellano Law Foundation

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