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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 141 -
RECONSTITUTING THE CENTRAL BANK BOARD OF LIQUIDATORS
WHEREAS,
pursuant to Section 132(c) of Republic Act No. 7653, all assets and
liabilities of the Central Bank of the Philippines (“Central Bank”)
created under Republic Act No. 265, as amended, that were not
transferred and assumed by the Bangko Sentral ng Pilipinas shall be
retained, administered, disposed of and liquidated by the Central Bank
itself, which shall continue to exist as the Central Bank Board of
Liquidators (CB-BOL);
WHEREAS, Executive Order No. 169 dated April 17, 1994 constituted and
prescribed the composition of the CB-BOL as being composed of a
Chairman and two (2) members;
WHEREAS, Executive Order No. 455 dated November 11, 1997 reconstituted
the CB-BOL by increasing its composition to a Chairman and four (4)
members;
WHEREAS, the composition of the CB-BOL was later reconstituted by
Executive Order No. 476 dated March 31, 1998, and still further by
Executive Order No. 25 dated September 21, 1998;
WHEREAS, there is a need to rationalize the membership and
representation in the CB-BOL;
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the
Philippines, by virtue of the powers vested in me by law, do hereby
order:
Section 1.
Executive Order No. 169 dated April 17, 1994, as amended by Executive
Order No. 455 dated November 11, 1997, shall remain in force and effect.
Accordingly, Sec. 3 of Executive Order No. 169 dated April 17, 1994,
as amended by Executive Order No. 455 dated November 11, 1997, shall
read as follows:
“SEC.
3.
a.
b.
c.
d.
e.
They
shall be appointed by, and shall serve at the pleasure of the
President.”
Sec. 2.
DONE in the City of Manila,
this 24th day of October, in the year of our Lord Two Thousand and Two.
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