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MALACAÑAN PALACE
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ Proclamation No. 50-b, June 8, 1987 ]

FURTHER MODIFYING PROCLAMATION NO. 50

For the Government to implement effectively the program for the expeditious disposition and privatization of certain government corporations and/or the assets thereof, Section 23, first paragraph of Proclamation No. 50 is hereby modified to read as follows:

“Section 23. Mechanics of Transfer of Assets. - As soon as practicable, but not later than one year from the date of the issuance of this Proclamation, the President, acting through the Committee on Privatization, shall identify such assets of government institutions as appropriate for privatization and divestment in an appropriate instrument describing such assets or identifying the loan or other transactions giving rise to the receivables, obligations and other property constituting assets to be transferred.”

This Proclamation shall take effect immediately.1aшphi1

Manila, June 8, 1987.

(SGD) CORAZON C. AQUINO
President of the Philippines

By the President:

(SGD) JOKER P. ARROYO
Executive Secretary

The Lawphil Project - Arellano Law Foundation

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