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Executive Order No. 915 (1983)
WHEREAS, it has been determined that it is no longer viable and economical to continue with the grant of loans to Filipino retailers and that the existing amount now on deposit with the Philippine National Bank will therefore remain dormant and unproductive unless transferred to another active subsisting fund;
Sec. 1. The Filipino Retailers' Fund under Republic Act No. 1292 is hereby abolished, and the remaining amount of said fund in the sum of THREE MILLION NINETY THOUSAND EIGHT HUNDRED THIRTY EIGHT PESOS AND 27/100 (P3,090,838.27) now on deposit with the Philippine National Bank is hereby transferred to the Cottage Industry Guarantee and Loan Fund (CIGLF) owned by NACIDA and administered by the Central Bank of the Philippines.
Sec. 2. All receivables, collectibles and other such amounts which have accrued or which may hereafter accrue and be due for payment to the Filipino Retailers' Fund shall be transferred and integrated into the CIGLF. The National Cottage Industries Development Authority, as owner of the CIGLF, shall implement all measures necessary to collect all such receivables, collectibles, and other such amounts. The Philippine National Bank shall continue to serve as the official depository bank for this purpose and shall accept payment of the monies contemplated in this Section, for the account and in the name of CIGLF.
Sec. 3. All records, papers and documents of the Filipino Retailers' Fund shall be immediately transferred to NACIDA.
Sec. 4. The Central Bank of the Philippines, the Philippine National Bank and the National Cottage Industries Development Authority shall work out procedures to effect the fund transfers mentioned in the preceding sections of this Order.
Sec. 5. Repealing Clause. Any provision of existing laws, decrees, order or regulations inconsistent herewith is hereby repealed or amended accordingly.
Sec. 6. Effectivity. This Order shall take effect immediately.
Done in the City of Manila, this 15th day of October, in the year of Our Lord, Nineteen Hundred and Eighty-three.