Executive Order No. 739 (1981)

Sec. 1. The Debt Clearing Office created under the Order shall exercise the following functions and responsibilities:

(1) To gather data on subsisting obligations directly from government agencies, offices, corporations or individuals concerned;

(2) To review, analyze, reconcile and confirm the data gathered, and submit recommendations to the Chairman, Commission on Audit, for the offsetting or settlement of the accounts in accordance with the provisions of Republic Act No. 3871 and GAO General Circular No. 91, dated November 11, 1964;

(3) To determine fund sources necessary for the settlement of the accounts and undertake measures for the provision thereof;

(4) To prepare the implementing rules and regulations needed for the efficient discharge of its functions and responsibilities;

(5) To render periodic accomplishments reports to the Minister of Finance and to the Chairman, Commission on Audit; and

(6) To perform such other functions as are necessary to achieve the purpose of this Order.

Sec. 2. The Debt Clearing Office is hereby authorized to seek the assistance of any government agency or instrumentality whenever necessary.

Sec. 3. Such sums as may be required for the initial funding of the operations of the Debt Clearing Office are authorized to be charged against the Special Activities Fund. Thereafter, the amount needed for the operations of the Debt Clearing Office shall be incorporated in the General Appropriations Act.

Sec. 4. All laws, decrees, charters, executive orders, administrative orders, proclamations, rules and regulations, or parts thereof, which are in conflict with the provisions of this Executive Order are hereby repealed or modified accordingly.

This Order shall take effect immediately

Sec. 5. This Order shall take effect immediately.

Done in the City of Manila, this 3rd day of October, in the year of Our Lord, nineteen hundred and eighty-one.