A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Republic Acts :
REPUBLIC ACT NO. 7227 - AN ACT ACCELERATING THE CONVERSION OF MILITARY RESERVATIONS INTO OTHER PRODUCTIVE USES, CREATING THE BASES CONVERSION AND DEVELOPMENT AUTHORITY FOR THE PURPOSE, PROVIDING FUNDS THEREFORE AND FOR OTHER PURPOSES
Section 1. Short Title. — This Act shall be known as the "Bases Conversion and Development Act of 1992."
Sec. 2. Declaration of Policies. — It is hereby
declared the policy of the Government to accelerate the sound and
balanced conversion into alternative productive uses of the Clark and
Subic military reservations and their extensions (John Hay Station,
Wallace Air Station, O'Donnell Transmitter Station, San Miguel Naval
Communications Station and Capas Relay Station), to raise funds by the
sale of portions of Metro Manila military camps, and to apply said
funds as provided herein for the development and conversion to
productive civilian use of the lands covered under the 1947 Military
Bases Agreement between the Philippines and the United States of
America, as amended.
Sec. 3. Creation of the Bases Conversion and
Development Authority. — There is hereby created a body corporate to be
known as the Bases Conversion and Development Authority, hereinafter
referred to as the Conversion Authority, which shall have the attribute
of perpetual succession and shall be vested with the powers of a
Sec. 4. Purposes of the Conversion Authority. —
The Conversion Authority shall have the following purposes:
Sec. 5. Powers of the Conversion Authority. — To
carry out its objectives under this Act, the Conversion Authority is
hereby vested with the following powers:
Sec. 6. Capitalization. — The Conversion Authority
shall have an authorized capital of One hundred billion pesos
(P100,000,000,000) which may be fully subscribed by the Republic of the
Philippines and shall either be paid up from the proceeds of the sales
of its land assets as provided for in Sec. 8 of this Act or by
transferring to the Conversion Authority properties valued in such
Sec. 7. Transfer of Properties. — Pursuant to
paragraph (a), Sec. 4 hereof, the President shall transfer forthwith
to the Conversion Authority:
Sec. 8. Funding Scheme. — The capital of the
Conversion Authority shall come from the sales proceeds and/or
transfers of certain Metro Manila military camps, including all lands
covered by Proclamation No. 423, series of 1957, commonly known as Fort
Bonifacio and Villamor (Nicholas) Air Base, namely:
Sec. 9. Board of Directors: Composition. — The
powers and functions of the Conversion Authority shall be exercised by
a Board of Directors to be composed of nine (9) members, as follows:
Sec. 20. Interim Capacity. — Except for the chairman of the Subic Authority, the chairman and other members of the Board of the Conversion Authority and the Subic Authority shall act in an interim capacity and shall serve until the 31st of July 1992 or until such time that their successors shall have been duly appointed.
Sec. 21. Injunction and Restraining Order. — The implementation of the projects for the conversion into alternative productive uses of the military reservations are urgent and necessary and shall not be restrained or enjoined except by an order issued by the Supreme Court of the Philippines.
Sec. 22. Separability Clause. — If any provision of this Act shall be held unconstitutional or invalid, the other provisions not otherwise affected shall remain in full force and effect.
Sec. 23. Repealing Clause. — All laws, executive issuances or parts thereof which are inconsistent herewith are hereby repealed or amended accordingly.
Sec. 24. Effectivity Clause. — This Act shall take
effect upon its publication in at least one (1) newspaper of general
Approved: March 13, 1992