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Executive Order No. 786, S. 1982
Executive Order No. 786, S. 1982
Executive Order No. 786, S. 1982
1982:
“Creating the Natural Resources Development Corporation, defining its functions,
powers and responsibilities and for other purposes.”
Year of March 19, 1982
enactment and
implementation
Purpose Creating the Natural Resources Development Corporation,
defining its functions, powers and responsibilities and for other
purposes.
Control Area Nationwide
Overview The urgent need to accelerate the country’s development
is the need to conserve the natural resources and the
environment to attain a better quality of life for the people
There are new technologies which complement the
utilization of a resource with the conservation of another
and result to greater net benefit to the people and the
environment, such as the charcoal pig iron making;
More productive utilization of resources can be attained
by the use of new or better systems or technologies, such
as the stumpage valuation system
With the present slump in the economy, it is imperative
that the government actively support the development
and implementation of such technologies and systems
Features/ Summary
1. Section 1 provides for the creation of the Natural Resources Development
Corporation under the Ministry of Natural Resources. It shall have corporate
term of fifty (50) years which shall be deemed renewed for an equal period
unless earlier dissolved by law. The principal office shall be in Metro Manila but
the Board may hereafter establish branches/offices elsewhere in the
Philippines as it shall deem necessary.
3. The NRDC shall have the general powers provided in the Corporation Law,
insofar as they are not inconsistent with this Order, and such other powers
necessary to enable it to attain its objectives. Section 4 expressly provides for
the powers that the NRDC shall exercise, without in any manner restricting the
purpose of the Section.
7. To enable it to effectively carry out its purposes and objectives, the NRDC is
exempt from all Taxes, Duties, Fees, Imposts and Other Charges by
Government and Government Instrumentalities for a period of ten (10) years
from the effectivity of this Order. Section 10 lays down the enumeration
encompassed by the exemption.
8. Section 11 states that the NRDC shall be audited by the corporate auditor,
whose appointment by the Commission on Audit is subject to the approval of
the Board. The subsidiary corporation/s of the NRDC formed and registered
with the Securities and Exchange Commission shall be audited by the
independent Certified Public Accountants selected by the Board.
Prohibited None
Acts/Penalties
References: Gov.ph. 2020. Official Gazette of the Republic of the
Philippines [online] Available at:
https://www.officialgazette.gov.ph/1982/03/19/executi
ve-order-no-786-s-1982/
The State recognizes and supports the central role of the farmers,
indigenous people and other stakeholders at the grassroots in this
program. (Sec. 2)
Features/ Summary
9.