WHEREAS, the Department of Finance (DoF) is responsible for the generation and management of the financial resources of government, ensuring that said resources are generated and managed judiciously and in a manner supportive of the development objectives of government;

WHEREAS, the Philippine Amusement and Gaming Corporation was established to, among others, generate resources which can be utilized to finance government infrastructure, as well as socio-civic development projects;

WHEREAS, in order to facilitate coordination of policies and programs between these agencies, it is necessary to place the PAGCOR under the DoF;

WHEREAS, Book III, Title III, Chapter 10, Section 31 (3) of the Administrative Code of 1987, authorizes the President to œ[T]ransfer any agency under the Office of the President to any other department or agency xxx .

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 order the following:

SECTION 1. The Philippine Amusement and Gaming Corporation is hereby transferred from the Office of the President and attached to the Department of Finance.

SECTION 2. All orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.

SECTION 3. This Executive Order shall take effect immediately.

DONE in the City of Manila, this 16th day of July in the year of our Lord, two thousand and four.

(SGD.) GLORIA MACAPAGAL-ARROYO

By the President:

(SGD.) ALBERTO G. ROMULO
Executive Secretary