October 30, 1980

EXECUTIVE ORDER NO. 629

ABOLISHING THE REPARATIONS COMMISSION AND TRANSFERRING ITS REMAINING ACTIVITIES TO THE DEVELOPMENT BANK OF THE PHILIPPINES

WHEREAS, the Japanese war reparations agreement has already terminated;

WHEREAS, the collection of accounts receivable can be done effectively by the Development Bank of the Philippines, which is, at present, actually collecting payments for disposed reparation goods;

WHEREAS, the President has continuing authority under

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the asia dc

1. The Reparation Commission is hereby abolished and the responsibility for collection of accounts receivable from the end-users of reparations goods is hereby transferred to the Development Bank of the Philippines.

2. All pertinent records of the Commission are hereby transferred to the Development Bank of the Philippines.

3. The liquidation of assets and liabilities of the Reparation Commission shall be undertaken by the Board of Liquidators.

4. This Order shall take effect on December 31, 1980.

DONE in the City of Manila, this 30th day of October, in the year of Our Lord, Nineteen Hundred and Eighty.

Published in the Official Gazette, Vol. 76 No. 47, 8798-4 Supp., on November 24, 1980.