WHEREAS, Executive Order No. 494 was issued by the President of the Philippines on December 6, 1991, reorganizing various government-owned or controlled corporations, including the Philippine Coconut Authority (PCA) which under said Executive Order is to be transformed into a regular line bureau of the Department of Agriculture to be known as the "Bureau of Coconut Development and Inspection Service", and accordingly repealing, among other laws, its charter, namely Presidential Decree No. 232, as revised by Presidential Decrees Nos. 961 and 1468;

WHEREAS, said Executive Order has not yet taken effect;

WHEREAS, in his Memorandum to the President of the Philippines dated December 18, 1991, then Secretary of Agriculture Senen Bacani recommended the exclusion of the PCA from the coverage of Executive Order No. 494 for reasons, among others, that:

1) The PCA is not one of the government corporations or agencies which the President of the Philippines identified for privatization, divestment, or dissolution under Proclamation No. 50 which authorized the President to amend the charters of such entities for purposes of privatization;

2) The corporate structure of PCA which carries both corporate and regulatory functions cannot be substituted with the basic line functions of an ordinary bureau, and accordingly the Department of Agriculture has never included the PCA as one of the agencies or corporations for regularization;

WHEREAS, considering that the present conditions do not warrant the reorganization of the Philippine Coconut Authority and public interest demands the maintenance of its present set-up, there is a need to revoke Executive Order No. 494 insofar as it concerns the Philippine Coconut Authority only;

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

Section 1. The provisions of Executive Order No. 494 dated December 6, 1991 on the transformation of the Philippine Coconut Authority into a regular line bureau of the Department of Agriculture are revoked and Annex "D" of said Executive Order is deleted.

Sec. 2. The charter of the Philippine Coconut Authority, namely Presidential Decree No. 232, as revised by Presidential Decrees Nos. 961 and 1468, shall remain in force and effect.

Sec. 3. This Executive Order shall take effect immediately.

DONE in the City of Manila, this 11th day of July in the year of our Lord, nineteen hundred and ninety-two.


By the President:
(Sgd.) PETER D. GARRUCHO, JR.
Acting Executive Secretary