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SECTION 1
Pursuant to Section 15 of RA No
SECTION 1. Pursuant to Section 15 of RA No. 7844, or the EDA Law, the above-described parcel of land owned by the National Government consisting of Fifty-Thousand Six Hundred Forty Two (50,642) square meters, more or less, a portion of which is covered by Transfer Certificate of Title (TCT) No. 34996 registered in the name of the Republic of the Philippines, is hereby made available for long-term lease to the export organization duly accredited by the Export Development Council (EDC) to represent the export sector's concerns and interests.
SEC. 2
SEC. 2. For and in behalf of the National Government, the Secretary of Trade and Industry (DTI) is hereby authorized to negotiate, sign, and execute a long-term lease contract over said land, or a substantial portion thereof with PhilExport, the incumbent accredited export organization which, under the EDA law, shall represent the export sector's concerns and interests for a term of three (3) years. Said lease agreement shall be made assignable to the next export organization duly accredited by the EDC after the end of the term of PhilExport.
SEC. 3
SEC. 3. To further support the operations of the duly accredited organization, the lease rate for said land shall be fixed at One Thousand Pesos (P1,000.00) a year. The leased land shall house the Philippine Trade Center and other such complexes, including the World Trade Center, to serve primarily as the venue for international exhibitions for promotion of products from the Philippines.
SEC. 4
In furtherance of its functions under Section 12 letter (d) of R
SEC. 4. In furtherance of its functions under Section 12 letter (d) of R.A. No. 7844 the duly accredited export organization may enter into a sublease of said land with organizations or firms for the setting up of the Philippine Trade Center and may include the World Trade Center provided that, the revenue earned by the duly accredited export organization or PhilExport from the lease rental and other operations of the Center shall be used solely for the development and promotion of exports in accordance with the provisions of R.A. no. 7844.
SEC. 5
SEC. 5. The accredited organization shall render a regular report to the EDC on the use of said funds. The EDC shall oversee the use of the funds by he accredited export organization and shall formulate guidelines to ensure its proper utilization within ninety (90) days from the effectivity of this Order.
SEC. 6
The capital structure of CITEM under E
SEC. 6. The capital structure of CITEM under E.O. 989 is hereby modified to comply with the provisions of this Executive Order on said parcels of land. The Board of Governors of CITEM shall implement, determine and approve such modification.
SEC. 7
All executive orders, particularly the provisions in Executive Order No
SEC. 7. All executive orders, particularly the provisions in Executive Order No. 989 referring to the above-described parcels of land owned by the National Government or TCT No. 34996, which are inconsistent with the provisions of this Executive Order are hereby deemed amended, repealed, or modified accordingly.
SEC. 8
SEC. 8. The provisions of this executive order are hereby declared to be separable, and in the event any one or more of such provisions are held unconstitutional, the validity of the other provisions shall not be affected.
SEC. 9
This Executive Order shall be effective immediately
SEC. 9. This Executive Order shall be effective immediately.
Done in the City of Manila, this 13th day of December, in the year of Our Lord, nineteen hundred and ninety five.