MALACAŅANG Manila BY THE PRESIDENT OF THE PHILIPPINES EXECUTIVE ORDER NO. 350 TRANSFERRING THE BOARD OF LIQUIDATORS (BOL) FROM THE OFFICE OF THE PRESIDENT TO THE DEPARTMENT OF FINANCE WHEREAS, the Department of Finance (DoF) is responsible for the generation and management of the financial resources of government, ensuring that said resources are generated and managed judiciously an in a manner supportive of the development objectives of government; WHEREAS, the Board of Liquidators (BOL) is tasked with hastening the disposition of a number of non-performing assets under its administration; WHEREAS, in order to facilitate coordination between these agencies, it is necessary to place the BOL under the DoF; WHEREAS, Section 31 (3), Chapter 10, Title III, Book III of the Administrative code of 19787, authorizes the President to "[T]ransfer any agency under the Office of the President to any other department or agency xxx". DONE in the City of Manila, this 30th day of July in the year of our Lord, two thousand and four. (Sgd.) GLORIA MACAPAGAL-ARROYO By the President: (Sgd.) ALBERTO G. ROMULO |