MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Memorandum Order No. 395, September 16, 1991 ]
DESIGNATING THE VETERANS FEDERATION OF THE PHILIPPINES TO EXERCISE THE POWER TO VOTE THE SHARES OF STOCK OF THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES IN THE PHILIPPINE VETERANS INVESTMENT DEVELOPMENT CORPORATION.
WHEREAS, the Philippine Veterans Investment Development Corporation had been created under Presidential Decree No. 243, as amended by Presidential Decrees Nos. 353 and 918, for the purpose of, among others, engaging in enterprises that will promote the well-being of the veterans and retirees of the Armed Forces of the Philippines;
WHEREAS, the Philippine Veterans Investment Development Corporation had been authorized under Presidential Decree No. 243, as amended, to issue Twenty Million (20,000,000) shares of stock, sixty percent (60%) of which had been subscribed by the Government;
WHEREAS, the power to vote the shares of stock of the Government of the Republic of the Philippines in the Philippine Veterans Investment Development Corporation is vested in the President or in such person or persons as the President may designate;
WHEREAS, the Veterans Federation of the Philippines had been created under Republic Act No. 2640 for the purpose of, among others, representing and defending the interests of all Filipino veterans;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, hereby designate the Veterans Federation of the Philippines as my representative to exercise the power to vote the shares of stock of the Government in the Philippine Veterans Investment Development Corporation. Such designation shall remain in force until otherwise revoked.
DONE in the City of Manila, this 16th day of September, in the year of Our Lord, nineteen hundred and ninety-one.1aшphi1
(Sgd.) CORAZON C. AQUINO
President of the Philippines
By the President:
(Sgd.) FRANKLIN M. DRILON
Executive Secretary
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