MALACAŅANG PALACE Manila EXECUTIVE ORDER NO. 516 RETURNING THE BASES CONVERSION DEVELOPMENT AUTHORITY TO THE OFFICE OF THE PRESIDENT WHEREAS, Executive Order No. 504 (s. 2006) Section 5 mandated the Secretary of Trade and Industry to exercise policy oversight over the Bases Conversion and Development Authority (BCDA), NOW, THEREFORE, I GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law and the Constitution, do hereby order: The BCDA is hereby reverted to the Office of the President. Section 5 of Executive Order No. 504 is hereby repealed. City of Manila, 24 March 2006 (Sgd.) GLORIA MACAPAGAL – ARROYO By the President: (Sgd.) EDUARDO R. ERMITA |