Section 1
Abolition of NORTHRAIL
Section 1. Abolition of NORTHRAIL. The NORTHRAIL is hereby abolished.
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Memorandum Order No. 17
Memorandum Order No. 17
MEMORANDUM ORDER NO. 17 DIRECTING THE ABOLITION OF THE NORTH LUZON RAILWAYS CORPORATION, AND FOR OTHER PURPOSES
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Section 2
BCDA as the Administrator and Liquidator of NORTHRAIL
Section 2. BCDA as the Administrator and Liquidator of NORTHRAIL. The Board of Directors of the NCDA shall act as the administrator and liquidator of NORTHRAIL and implement the following activities, among others: a. Settle the liabilities of the NORTHRAIL, including the payment of separation incentive pay to affected and personnel of NORTHRAIL: b. Undertake steps necessary in the liquidation of NORTHRAIL's assets, and assist in the winding-up of its corporate affairs; c. Conduct an inventory of all NORTHRAIL's existing programs and projects which are to be terminated or transferred to concerned government agencies, subject to existing laws, rules and regulations; d. Conduct an inventory of all NORTHRAIL's assets and liabilities, and thereupon formulate an action plan by which said assets and liabilities may be disposed of and settled, subject to existing laws, rules, and regulations; e. Formulate a Change Management Plan for affected stakeholders of NORTHRAIL; f. Conduct an inventory of all pending cases brought by and against NORTHRAIL, and thereupon formulate the appropriate actions needed to resolve said cases, including the total amount of contingent liabilities arising therefrom, if any; g. Surrender to the Commission on Audit the original copies of NORTHRAIL's corporate books of account and financial records; and h. Perform such other actions as may be necessary to implement this Order.
Section 3
Participation of Concerned Government Agencies
Section 3. Participation of Concerned Government Agencies. The following govenrment agencies shall assist the BCDA in implementing the provisions of this Order: a. The GCG shall monitor the implementation of the abolition of NORTHRAIL. For this purpose, the BCDA Board, acting as the Administrator and Liquidator, shall submit a quarterly report to the GCG on the implementation of this Order; b. The Department of Transportation as the supervising agency of NORTHRAIL, shall continue to oversee the programs and activities relative to the liquidation and winding-up of the affairs of NORTHRAIL; c. The SEC shall assist the BCDA in ensuring that the dissolution of the Corporation is conducted in accordance with the provisions of RA No. 11232 or the "Revised Corporation Code of the Philippines," and other pertinent laws, rules and regulations; and d. The Office of the Government Corporate Counsel shall provide the necessary legal assistance to the BCDA relative to the dissolution and winding-up of the affairs of NORTHRAIL.
Section 4
Separation Incentive Pay of Affected Officials and Personnel
Section 4. Separation Incentive Pay of Affected Officials and Personnel. All affected officials and personnel of NORTHRAIL may avail of the following separation benefits: Government Service Rates First 20 years 1.00 x MBS* x No. of years 20 years and 1 day to 30 years 1.25 x MBS x No. of years 30 years and 1 day and above 1.50 x MBS x No. of years The separation pay authorized herein shall be charged against the available corporate funds of the NORTHRAIL, subject to existing budgeting, accounting and auditing laws, rules and regulations.
Section 5
Repeal
Section 5. Repeal. All other orders, issuances, rules and regulations, or parts thereof, which are inconsistent with the provisions of this Order are hereby repealed or modified accordingly.
Section 6
Separability
Section 6. Separability. If any provision of this Order is declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.
Section 7
Effectivity
Section 7. Effectivity. This Order shall take effect immediately upon publication in the Official Gazette or in a newspaper of general circulation. DONE, in the City of Manila, this 196h day of October, in the year of our Lord, Two Thousand and Twenty-Three. By authority of the President: (SGD.) LUCAS P. BERSAMIN Executive Secretary