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MALACAÑAN PALACE
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ Memorandum Order No. 91, February 15, 2000 ]

FURTHER EXPANDING THE SCOPE OF THE AUTHORITY OF THE AD HOC FACT-FINDING COMMITTEE ON BEHEST LOANS CREATED PURSUANT TO ADMINISTRATIVE ORDER NO. 13 DATED OCTOBER 08, 1992

WHEREAS, under Memorandum Order No. 61 dated 9 November 1992, the functions of the Presidential Ad Hoc Fact-Finding on Behest Loans have been expanded so as to include the investigation, inventory and study of all non-performing loans which shall embrace both behest and non-behest loans;

WHEREAS, in the pursuit of its underlying task to facilitate the collection of defaulted loans owing government owned and controlled banking and/or financial institutions, the Presidential Ad Hoc Fact-Finding Committee on Behest Loans has uncovered the existence of very substantial and enormous amount of deficiency claims due from said defaulted loans;

WHEREAS, under the circumstances, there is now a need to further expand the authority granted the Presidential Ad Hoc Fact-Finding Committee on Behest Loans in order for it to accomplish its task more effectively.1aшphi1

NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

Section 1. That the Presidential Ad Hoc Fact-Finding Committee on Behest Loans is directed to file and to prosecute the corresponding legal action for the recovery of deficiency claims arising out of behest and non-behest loans that have been defaulted.

Section 2. That the Presidential Commission on Good Government shall render its full assistance and support in the above-mentioned undertaking.

Section 3. This Memorandum Order shall take effect immediately.

DONE in the City of Manila, this 15Th day of February, in the year of our Lord, Two Thousand.

(Sgd.) JOSEPH EJERCITO ESTRADA

By authority of the President:

RONALDO B. ZAMORA
Executive Secretary

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