[ EXECUTIVE ORDER NO. 54, April 21, 1947 ]

TRANSFERRING THE POWERS, DUTIES AND FUNCTIONS OF THE TREASURER OF THE PHILIPPINES PERTAINING TO INSURANCE, MUTUAL BENEFIT, RELIEF AND BENEVOLENT SOCIETIES AND ASSOCIATIONS, AND TRUSTS FOR CHARITABLE USES TO THE BANK COMMISSIONER, AND FOR OTHER PURPOSES.



By virtue of the powers vested in me by Republic Act No. 51, I, Manuel Roxas, President of the Philippines, do hereby order-

1. The powers, duties and functions heretofore exercised by the treasurer of the Philippines under Act No. 2427, as amended, known as the insurance Act, under Article VIII of Chapter 41 of Title VII of the Revised Administrative Code, and under Commonwealth Act No. 434 shall hereafter be exercised by the Bank Commissioner.

2. In addition to his present official title, the Bank Commissioner shall hereafter be designated as Insurance Commissioner ex-officio: Provided, That he may, with the approval of the Department Head, designate any officer or officers of the Bureau of Banking to act as his deputy or deputies, who shall exercise such powers and duties as may be assigned to him or them by the Insurance Commissioner.

3. The Inspection Division of the Bureau of the Treasury and the following positions therein with their incumbents and all its records, equipment, other property and corresponding appropriations, are hereby transferred to the Bureau of Banking:

Item No. (Pages 102 and 103) Republic Act No. 80
Number and Title of Positions
Amount




INSPECTION DIVISION
44
One chief of division and second deputy insurance commissioner
P 5,100
45
One assistant chief of division
3,960
46
One actuary-examiner (part time)
3,960
47
One junior stenographer
720




Insurance Section
48
Two examiners at P2,580
5,160
49
Two examiners at P2,400
4,800
50
One examiner
2,040
52
Two assistant examiners at P1,560
3,120
53
Two assistant examiners at P1,440
2,880




Benevolent Societies and Charitable Trusts Section
54
One chief of section
2,580
55
Two examiners at P2,040
4,080
56
Two assistant examiners at P1,800
3,600
57
One assistant examiner
1,560
58
One assistant examiner
1,440
59
One clerk
660

Done at the City of Manila, this 21 st day of April, in the year of Our Lord, nineteen hundred and forty-seven, and of the Independence of the Philippines, the first.

  (Sgd.) MANUEL ROXAS
President of the Philippines

By the President:

(Sgd.) EMILIO ABELLO
Chief of the Executive Office

  21a1947