AMENDING EXECUTIVE ORDER NO. 289 (s. 1995) TO PROVIDE ADDITIONAL CONTROL MEASURES TO SAFEGUARD THE INTEREST OF THE GOVERNMENT IN THE LAND TO BE USED FOR THE ESTABLISHMENT OF THE…

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WHEREAS, Executive Order No. 289 (s. 1995) directs the provision of land for
the establishment of the Philippine Trade Center, including the World Trade
Center through a long-term lease to the export organization accredited by the
Export Development Council in accordance with Section 15 of Republic Act No.
7844, otherwise known as the “Export Development Act of 1994” (EDA);

WHEREAS, it is necessary to institute additional measures to safeguard the
interest of the Government in the land to be leased to the EDC-accredited
export organization, as well as to address the export sector’s concerns and
interests;

NOW, THEREFORE, I, FIDEL
V. RAMOS, President of the Philippines, by
virtue vested in me by the Constitution, do hereby order the following:

SECTION 1. The following sections of Executive Order No. 289 (s. 1995),
entitled “Providing Land for the Philippine Trade Center in Accordance with Republic
Act No. 7844,” are hereby amended to read as follows:

“SECTION 1. Pursuant to Section
15 of R.A. No. 7844, or the EDA Law, the above-described parcel of land owned
by the National Government consisting of Fifty-Thousand Six Hundred Forty Two
(50,642) square meters, more or less, a portion of which is covered by Transfer
Certificate of Title (TCT) no. 34996 registered in the name of the Republic of
the Philippines, is hereby made available for long-term lease to the export
organization duly accredited by the Export Development Council (EDC) to
represent the export sector’s concerns and interests; provided, that the
Department of Trade and Industry and its attached agencies shall be indemnified
for the fixed improvements on said parcel of land belonging to the latter which
may be demolished or damaged by the Lessee or Sub-Lessee, as the case may be,
with the establishment of the Philippine Trade Center, including the World
Trade Center.

x x x

“SEC. 4. In furtherance of its
functions under Section 12 letter (d) of R.A. No. 7844, the duly accredited
export organization may enter into a sublease of said land with organizations
or firms for the setting up of the Philippine Trade Center and may include the
World Trade Center, provided that the terms and conditions of such sub-lease,
as well as any charges thereof, shall be subject to the prior approval of the
Secretary of the Department of Trade and Industry; and provided further that
the revenues earned by the duly accredited export organization from lease rental
and other operations of the Center shall be used solely for the development and
promotion of exports in accordance with the provision of R.A. No. 7844.

“SEC. 5. The accredited export
organization shall be accountable to the EDC for the use of all revenues,
including sub-lease rentals from operations of the Center, including the World
Trade Center and shall render a regular report thereof, in a manner and
frequency to be determined by the EDC. Towards this end the EDC shall formulate
guidelines to ensure the proper utilization of the funds within ninety (90)
days from the effectivity of this Order. Furthermore, the utilization of said
sublease revenues shall be subject to a yearly budget review and prior approval
by the EDC. Prior to disbursement, single large expenditures, the amount of
which to be determined by the EDC, will be subject to prior approval by the
EDC. The EDC shall likewise institute the appropriate auditing procedures for
the use of such sub-lease revenues.

SEC. 2. All executive issuance, which are inconsistent with this Executive
Order, are hereby deemed amended, repealed or modified accordingly.

SEC. 3. The provisions of this executive order are hereby declared to be
separable and, in the event any one or more of such provisions are held
unconstitutional, validity of the other provisions shall not be affected.

SEC. 4. This Executive Order shall be effective immediately.

DONE in the City of Manila, this 16th day of January in the year of
Our Lord, Nineteen Hundred and Ninety-Six.

(Sgd.) FIDEL
V. RAMOS
President of the Philippines

By the President:

(Sgd.) RUBEN D. TORRES
Executive Secretary

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