Memorandum Order No. 310 (1972)

MALACAÑAN PALACE

MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ Memorandum Order No. 310, November 6, 1972 ]

CREATING A TASK FORCE TO LIQUIDATE THE OPERATIONS OF THE PHILIPPINE NATIONAL COOPERATIVE BANK.

There is hereby created a Task Force to liquidate the operations of the Philippine National Cooperative Bank and to transfer all the assets of the said Bank to the Philippine National Bank.

The Task Force shall be composed of the following:

Mr. Ramon B. Cardenas, Development Management Staff | Chairman Mr. Victor Macalincag, Department of Finance | Vice-Chairman Mrs. Josefina V. Segui, Presidential Economic Staff | Member Mr. Fernando Baluyot, Presidential Economic Staff | Member Mr. Cayetano S. Sarmago, Development Management Staff | Member Atty. Alexander Brillantes, Philippine Co-operative Credit Union League | Member

The Task Force shall arrange the immediate transfer of all assets of the Philippine National Cooperative Bank to the Philippine National Bank. Furthermore, arrangements with respect to funds and operations of the Philippine National Bank in support of the Cooperatives Development Program shall likewise be made.

You are hereby directed to submit your report two weeks from the date hereof.

By Authority of the President:

(Sgd.) ALEJANDRO MELCHOR

Executive Secretary

Manila, November 6, 1972