Executive Order No. 380 (2004) — the Public Estates Authority (PEA) created under Presidential Decree No. 1084 (Creating the Public Estates, Defining its Powers and Functions, Providing Funds Therefor and for Other Purposes) was established to provide for a coordinated, economical and efficient administration of lands and real estate, especially reclaimed lands, belonging to, managed and/or operated by the government and was further designated to be primarily responsible for integrating, directing and coordinating all reclamati

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Executive Order No. 380 (2004)

the Public Estates Authority (PEA) created under Presidential Decree No. 1084 (Creating the Public Estates, Defining its Powers and Functions, Providing Funds Therefor and for Other Purposes) was established to provide for a coordinated, economical and efficient administration of lands and real estate, especially reclaimed lands, belonging to, managed and/or operated by the government and was further designated to be primarily responsible for integrating, directing and coordinating all reclamati

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Section 1 · Transformation of the PEA Section 2 · Earnings of the PEA-TC Section 3 · Transfer of Assets and Liabilities of the PEA Section 4 · Separability Clause Section 5 · Repealing Clause Section 6 · Effectivity

Section 1

Transformation of the PEA

Section 1.

Transformation of the PEA. The PEA is hereby transformed into the Philippine Reclamation Authority (PRA). The PRA shall perform all the powers and functions of the PEA relating to reclamation activities. 1a⍵⍴h!1 The remaining non-reclamation enterprises, including the management of the PEA-Tollway Corporation (PEA-TC), are hereby transferred to the National Development Company.—

Section 2

Earnings of the PEA-TC

Section 2.

Earnings of the PEA-TC. The Chairman and members of the Board of the PEA-TC as well as its president shall be appointed by the President of the Philippines. The management of PEA-TC shall be under the supervision and control of the NDC. It shall declare monthly dividends and remit the same to the PRA in the amount needed by the PRA to perform its functions. The balance of the earnings of the PEA-TC shall be remitted to the National Government.

Section 3

Transfer of Assets and Liabilities of the PEA

Section 3.

Transfer of Assets and Liabilities of the PEA. With the exception of the assets and liabilities of the PEA on its reclamation functions which shall be retained with the PRA, all its other assets and liabilities are hereby transferred without cost to the DOF. The DOF shall then transfer such assets and liabilities to the appropriate agencies of the National Government.

Section 4

Separability Clause

Section 4.

Separability Clause. Any portion or provision of this Executive Order that may be declared unconstitutional shall not have the effect of nullifying other portions or provisions of the Order for as long as such remaining portions can still subsist and give effect.

Section 5

Repealing Clause

Section 5.

Repealing Clause. All executive issuances, rules and regulations or parts thereof which are inconsistent with this Executive Order are hereby revoked, amended or modified accordingly.

Section 6

Effectivity

Section 6.

Effectivity. This Executive Order shall take effect immediately.

Adopted: 26 Oct. 2004

(SGD.) GLORIA MACAPAGAL-ARROYO President of the Philippines

By the President:

(SGD.) EDUARDO R. ERMITA Executive Secretary