Executive Order No. 516 (2006)

MALACAÑANG

Manila

BY THE PRESIDENT OF THE PHILIPPINES

EXECUTIVE ORDER NO 516 March 24, 2006

RETURNING THE BASES CONVERSION DEVELOPMENT AUTHORITY TO THE OFFICE OF THE PRESIDENT

WHEREAS, Executive Order No. 504 (s. 2006) Section 5 mandated the Secretary of Trade and Industry to exercise policy oversight over the Bases Conversion and Development Authority (BCDA),

NOW, THEREFORE, I GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law and the Constitution, do hereby order:

The BCDA is hereby reverted to the Office of the President. Section 5 of Executive Order No. 504 is hereby repealed.

City of Manila, 24 March 2006

(Sgd.) GLORIA MACAPAGAL-ARROYO

By the President:

(Sgd.) EDUARDO R. ERMITA

Executive Secretary