AUTHORIZING THE ESTABLISHMENT OF THE CLARK INTERNATIONAL AIRPORT CORPORATION TO OPERATE AND MANAGE THE CLARK AVIATION COMPLEX

WHEREAS, under Republic Act No. 7227, otherwise known as the “Bases
Conversion Development Act of 1992,” it is 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 to promote
the economic and social development of the country;

WHEREAS, under Republic Act No. 7227 (1992), the Bases Conversion
Development Authority is empowered to form, establish, organize and maintain
subsidiary corporations formed in accordance with the Corporation Code and
existing rules and regulations promulgated by the Securities and Exchange
Commission;

WHEREAS, Executive Order No. 80 (1993) authorized the establishment of the
Clark Development Corporation (CDC) as the operating and implementing arm of
the Bases Conversion Development Authority for the Clark Special Economic Zone;

WHEREAS, pursuant to Executive Order No. 62 (1993), the Clark Special
Economic Zone is envisioned as a major civil aviation complex for international
passengers and/or cargo;

WHEREAS, Executive Order No. 174 (1994) mandates the Bases Conversion
Development Authority and the Clark Development Corporation to implement the
phased development of the Clark Aviation Complex and tasks the former to
recommend the organizational structure of a proposed Clark International
Airport Corporation which shall have jurisdiction over the operations of the
entire Clark Aviation Complex; and

WHEREAS, the variety of activities in the aviation complex calls for
diverse types of expertise which should be assigned to specialists and
government agencies whose interventions are required by law.

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

Section 1. Creation of
the Clark International Airport Corporation. – A body corporate to be
known as the Clark International Airport Corporation (CIAC) is hereby
authorized to be formed to operate and manage the Clark Aviation Complex.

Pursuant to Section 16 of
Republic Act No. 7227 (1992), the CIAC shall be a wholly-owned subsidiary
corporation of the Clark Development Corporation (CDC) and shall be formed in
accordance with the Corporation Code and existing rules and regulations
promulgated by the Securities and Exchange Commission. The CIAC shall be
subject to the policies, rules and regulations promulgated by the Bases
Conversion Development Authority (BCDA)/CDC.

Section 2. Exemption from
Civil Service Laws, Rules and Regulations. – Pursuant to Section 16 of
Republic Act No. 7227 (1992), the CIAC shall be exempt from the coverage of
Civil Service laws, rules and regulations.

Section 3. Board of
Directors. – Subject to Section 16 of Republic Act No. 7227 (1992),
the powers of the CIAC shall be vested in and exercised by a Board of Directors
which shall be composed of not more than eleven (11) members.

The members of the Board
representing the equity of the CDC and other government corporations or
agencies in the capital stock of the CIAC shall be nominated by the President
of the Philippines. No person shall be nominated as a member of the Board
representing the equity in the capital stock of the national government in CIAC
unless he is a Filipino citizen, of good moral character, and of recognized
competence in relevant fields including but not limited to civil aviation,
economics, tourism, law or engineering.

Section 4. Capitalization.
– The capitalization of the CIAC shall be determined by the BCDA/CDC which
shall include the following:

Cash equity to be provided by
CDC;

Portions of or all government
lands embraced and covered by the Clark Aviation Complex, as well as permanent
improvements and fixtures therein upon proper inventory; and

All other assets which the
President may transfer to the CIAC as part of the equity contribution of the
Government.

Section 5. Transfer of
Clark Air Base Proper. In view of Section 4 hereof, and pending
the full development of the Clark Reverted Baselands, the BCDA shall transfer
to the CDC the land comprising, and the permanent improvements and fixtures
within, the 4,440 hectares, more or less, covering the Clark Air Base Proper
under Proclamation No. 163 (1993).

Section 6. Role of
Departments, Bureaus, Offices, Agencies, Instrumentalities of the Government.
– All heads of departments, bureaus, offices, agencies and instrumentalities of
the government are hereby directed to give full support to the Clark
International Airport development program and to coordinate with the CDC and
the BCDA to facilitate the necessary approvals to expedite the implementation
of the various aspects of the conversion program.

Section 7. Repealing
Clause. – All executive issuances, rules and regulations or parts
thereof which are inconsistent with the provisions of this Executive Order are
hereby repealed, amended, or modified accordingly.

Section 8. Effectivity.
– This Executive Order shall take effect immediately.

DONE in the City of Manila, this 27th day of July in the year
of Our Lord, Nineteen Hundred and Ninety-Four.

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

By the President:

(Sgd.) TEOFISTO T. GUINGONA, JR.
Executive Secretary

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