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SECTION 1
Organization of the Inter-Agency Committee
SECTION 1.
Organization of the Inter-Agency Committee.
– The Inter-Agency Committee (“Committee”) created pursuant to Section 68 of the Electric Power Industry Reform Act of 2001, shall be organized as follows:
a.
Composition.
– The Committee shall be composed of the following:
Secretary of Finance
Chairman
Secretary of Justice
Member
Director-General, National Economic and Development Authority
Member
b.
Secretariat
. – The Committee shall establish and maintain a Secretariat which shall provide technical and administrative support to the Committee.
The Secretary of Finance is hereby directed to convene the Committee upon the effectivity of this Order.
SECTION 2
Functions
SECTION 2.
Functions.
– The Committee shall have the following functions:
Undertake a thorough review of all IPP contracts;
In cases where the IPP contracts are found to contain provisions which are grossly disadvantageous, or onerous to the Government, cause the appropriate government agency to file an action under the arbitration clauses provided in said contracts or initiate any appropriate action under Philippine laws;
Submit reports to the Office of the President on the results of the review of the IPP contracts and any action taken thereon, if any, within six (6) months from the effectivity of this Order and every six (6) months thereafter until the functions of the Committee are fully discharged; and
Perform such other functions as may be necessary and appropriate to achieve its objectives.
SECTION 3
Rules of Procedure
SECTION 3
. Rules of Procedure
. – The Committee shall adopt its own rules of procedure in the performance of its functions.
SECTION 4
Abolition and Repeal
SECTION 4.
Abolition and Repeal.
– The Inter-Agency Committee created under Administrative Order No. 10 dated May 26, 2001 is hereby abolished and its records shall be transferred to the Committee herein organized. Administrative Order No. 10 dated May 26, 2001 is hereby repealed. All other orders, rules, regulations and issuances, or parts thereof, which are inconsistent with this Administrative Order, are hereby repealed or modified accordingly.
SECTION 5
Effectivity
SECTION 5
.
Effectivity.
– This Order shall take effect immediately upon approval.
City of Manila, July 18, 2001.
(Sgd.)
GLORIA MACAPAGAL-ARROYO
President of the Philippines
By the President:
(Sgd.)
ALBERTO G. ROMULO
Executive Secretary