Home›Statutes›Executive Orders›Executive Order No. 440 (1997)
Executive Order No. 440 (1997)
under the Mitsubishi BBC Schemes approved on an ad referendum basis by Indonesia on 12 August 1996, by Malaysia and Thailand on 16 September 1996 and by the Philippines on 4 October 1996, the Philippines will import from Indonesia, Malaysia and Thailand certain component parts for the original equipment manufacture (OEM) of completely knocked-down (CKD) of Lancer (Models LA/LM/C/E/MG) passenger cars, L200 (PB/P-CAR) and Colt L300 light commercial vehicles, in exchange for Philippine exports of c
Section 1. —The articles specifically listed in—Annex —A——hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be accorded a minimum 50% MOP as specified in Column 10 thereof. In effect, said articles shall be subject to the BBC Preferential Tariff in accordance with the schedule indicated opposite each article as specified in Columns 11, 12, 13, and 14 of—Annex —A—.
Section 2. —The MOP provided on the articles specifically listed in—Annex —A——shall be accorded exclusively to the BBC entity in Indonesia (P.T. Krama Yudha Tiga Berlian Motors KTB), to the BBC entity in Malaysia (Perusahaan Otomobil Nasional Sdn Bnd (PROTON) and to the BBC entity in Thailand (MMC Sittipol Co., Ltd. MSC) effective from 1 January 1997 up to December 31, 2000. Thereafter, the same MOP may be granted to a non-participating ASEAN country as soon as that country extends the same MOP itself. If the non-participating country does not wish to grant such MOP and maintains such position throughout the stipulated maximum waiver period of eight (8) years, the exclusive application of the MOP to Indonesia, Malaysia and Thailand shall then be extended up to December 31, 2004.
Section 3. —The 50% MOP accorded under this Executive Order shall remain effective regardless of any subsequent changes in the basic Philippine rate of duty on the aforementioned articles.
Section 4. —Upon the effectivity of this Executive Order, the articles specifically listed in the aforesaid—Annex —A——which are entered or withdrawn from warehouses in the Philippines for consumption shall pay the applicable BBC Preferential Tariff specified under Section 1 hereof, subject to qualification under the Rules of Origin as prescribed in the Agreement on ASEAN Preferential Trading Arrangements, as amended.
Section 5. —Any revision/s to the part numbers appearing in Column 4 of—Annex —A——shall be communicated immediately to the Bureau of Customs by the Department of Trade and Industry within five (5) days after receipt of the official copy of the revised part numbers from the ASEAN Secretariat.
Section 6. —This Executive Order shall take effect immediately.
Done —in the City of Manila, this 15th day of September in the year of Our Lord, Nineteen Hundred and Ninety-Seven. 1a⍵⍴h!1
(Sgd.)— FIDEL V. RAMOS
President of the Philippines
By the President:
(Sgd.)— RUBEN D. TORRES
Executive Secretary