WHEREAS, Executive Order No. 330, series of 2004 transferred the PAGCOR from the Office of the President to the Department of Finance as an attached agency of the latter;

WHEREAS, in order to finance priority infrastructure and socio-civic projects as determined by the President, it is best to place PAGCOR back to the Office of the President;

WHEREAS, under Presidential Decree 1869, the charter of PAGCOR, the Board of Directors of PAGCOR shall submit to the Office of the President of the Philippines before the end of February of each year a list of all the infrastructure and/or socio-civic projects that might have been financed from the Corporation ™s earnings, and to submit such periodic or other reports as may be required of it from time to time;

WHEREAS, under the same charter, PAGCOR shall allocate and distribute, with the approval of the Office of the President of the Philippines, the earnings of the said Corporation earmarked to finance infrastructure and socio-civic projects;

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby amend EO No. 330 by transferring the attachment of PAGCOR from the Department of Finance back to the Office of the President.

This Executive Order shall take effect immediately.

Adopted: 6 March 2006

(SGD.) GLORIA MACAPAGAL-ARROYO

By the President:

(SGD.) EDUARDO R. ERMITA
Executive Secretary