Executive Order No. 285 (1995) — WHEREAS, Presidential Decree No. 902-A, the charter of the Securities and Exchange Commission (SEC), mandates that the said Commission shall be under the "direct general supervision of the President;"

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Section 1 · Section 1 of Executive Order No Section 2 · Section 2 of Executive Order No Section 3 · This Executive Order shall take effect immediately

Section 1

Section 1 of Executive Order No

Section 1. Section 1 of Executive Order No. 202 (22 September 1994) is hereby amended to read as follows:

"SECTION. 1. The Securities and Exchange Commission (SEC) is hereby transferred from the office of the President to the Department of Finance (DOF) which shall henceforth exercise administrative supervision over the SEC."

Section 2

Section 2 of Executive Order No

Section 2. Section 2 of Executive Order No. 202 (22 September 1994) is hereby amended to read as follows:

"SECTION 2. The relationship between the DOF and the SEC shall be governed by Subsection 1 of Section 38, Chapter 7, Book IV of the Administrative Code."

Section 3

This Executive Order shall take effect immediately

Section 3. This Executive Order shall take effect immediately.

DONE in the City of Manila, this 24th day of November in the year of Our Lord, Nineteen Hundred and Ninety-Five.