Pursuant to the provision of Executive Order No. 913 and Executive Order No. 133, the following are hereby prescribed and promulgated for the compliance, guidance and information of all concerned.

SECTION 1.       Section 2 of Department Order No. 97, series of 1992 is hereby amended to read as follows:

"SECTION 2.            Composition - The Council shall be composed of the following realty service organizations and government sector.

1.       Institute of Philippine Real Estate Consultants, Inc. (IPREC)

2.       Institute of Philippine Real Estate Appraisers (IPREA)

3.       Philippine Association of Realtors Boards, Inc. (PAREB)

4.       Real Estate Brokers Association of the Philippines, Inc. (REBAP)

5.       N.A.R. Philippines, Inc.

6.       Philippine Council of Real Estate Educators, Inc. (PHILCORE)

7.       Philippine Association of Realty Appraisers, Inc. (PARA)

8.       Chamber of Real Estate and Builders Association, Inc. (CREBA)

9.       Subdivision and Housing Developers Association, Inc. (SHDA)

10.     National Real Estate Association, Inc. (NREA)

11.     Philippine Association of Realty Consultants, Incorporated (Phil-ARC)

12.     Bureau of Trade Regulation and Consumer Protection (BTRCP)"

SECTION 2.       Section 4 of Department Order No. 97, Series of 1993 is hereby modified to read as follows:

"SECTION 4.            Powers and Functions - The Council shall have the following functions:

1.         To provide advice and/or recommendation to the Department of Trade and Industry on all matters relating/affecting the real estate industry, either on its own initiative or at the request of the Department of Trade and Industry, or any of the bureaus and agencies, or other government agencies.

2.         To initiate studies, policies, programs, projects and activities that shall lead to the further development and promotion of the realty business which may be implemented by the council itself and/or the Department of Trade and Industry and its bureaus and agencies and/or other government offices so that the interest of the public could best be served;

3.         To perform other related activities that will complement or supplement those being undertaken by the government agencies relevant to and falling under the realm of the real estate industry.

4.         To admit to the Council new members that it deems can contribute to attain the objectives of the Council."

SECTION 3.       Effectivity - This Department Order shall take effect immediately.

Adopted: 10 Sept. 1993

(Sgd.) RIZALINO S. NAVARRO
Secretary