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Executive Order No. 854 (1982)
WHEREAS, studies conducted by the Authority under Section 3 of Executive Order No. 826 which directed the latter to formulate and recommend measures to further insure the viability of the industry, have shown that a mere freeze in the present capacity of existing plants will not afford a viable solution to the problem considering that the total available limited market is not adequate to support all the existing processing plants, making it imperative to reduce the number of existing processing
Sec. 1. The Philippine Coconut Authority is hereby ordered to take such action as may be necessary to reduce the number of existing desiccated coconut processing plants to a level which will insure the survival of the remaining plants. The Authority is hereby directed to determine which of the existing processing plants should be phased out and to enter into appropriate contracts with such plants for the above purpose.
Sec. 2. To finance the acquisition of the facilities of the plants to be phased out and such other contracts which the Authority may enter into, the Authority is hereby authorized to incur such loans as may be necessary. To repay the above loans, the remaining desiccators are hereby assessed such amounts as the Authority may deem reasonable for the purpose. The Authority is hereby authorized to promulgate such rules and regulations as may be necessary to fully and effectively implement this Order, specifically in respect to the acquisition of the excess production facilities and their disposition. The assessment shall take effect upon such time as the Authority may determine.
Sec. 3. The assessment herein authorized as well as the assets to be acquired, will be subject to the exclusive audit by a reputable public accounting firm to be designated by the Authority upon consultation with the desiccated coconut industry.
Sec. 4. This Order shall take effect immediately.
DONE in the City of Manila, this 6th day of December 1982.