Executive Order No. 42 (2001) — in order for PCIC to effectively perform its mandate of providing insurance protection to farmers, it is necessary to transfer the PCIC to the Department of Finance, which is the appropriate department primarily responsible for the sound and efficient management of the financial resources of the government, its subdivisions, agencies and instrumentalities, and primarily tasked to review and coordinate the policies, plans and programs of government financial institutions and to recommend to them

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Executive Order No. 42 (2001)

in order for PCIC to effectively perform its mandate of providing insurance protection to farmers, it is necessary to transfer the PCIC to the Department of Finance, which is the appropriate department primarily responsible for the sound and efficient management of the financial resources of the government, its subdivisions, agencies and instrumentalities, and primarily tasked to review and coordinate the policies, plans and programs of government financial institutions and to recommend to them

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Section 1 · Transfer of the Philippine Crop Insurance Corporation Section 2 · Repealing Clause Section 3 · Effectivity

Section 1

Transfer of the Philippine Crop Insurance Corporation

Section 1.

Transfer of the Philippine Crop Insurance Corporation. — The Philippine Crop Insurance Corporation is hereby transferred from the Department of Agriculture and attached to the Department of Finance for policy and program coordination. ℒαwρhi৷

IN accordance with Republic Act No. 8175, approved on December 29, 1995, the President shall appoint the Chairman of the PCIC Board of Directors from among its members, while the PCIC President shall be the ex officio Vice-Chairman of the PCIC Board of Directors. The Vice-Chairman shall assist the Chairman and act in his stead in case of absence or incapacity.

Section 2

Repealing Clause

Section 2.

Repealing Clause. — All executive orders, rules and regulations and other issuances inconsistent with the provisions of this Executive Order are hereby revoked or modified accordingly.

Section 3

Effectivity

Section 3.

Effectivity. — This Executive Order shall take effect immediately.

City of Manila, October 15, 2001

(SGD.) GLORIA MACAPAGAL-ARROYO

By the President:

(SGD.) ALBERTO G. ROMULO Executive Secretary