PROHIBITING OFFICERS OF GOVERNMENT-OWNED CORPORATIONS AND THEIR WIVES AND OTHER MEMBERS OF THEIR HOUSEHOLD FROM ENTERING INTO CONTRACTS WITH THE CORPORATIONS OF WHICH THEY ARE OFFICERS.
In order to avoid questionable transactions by the government-owned corporations, and to insure public faith in their operations, I, MANUEL L. QUEZON, President of the Philippines, do hereby declare, by virtue of the powers vested in me by law, that hereafter, no officer or assistant in a government-owned corporation may enter into any contract, agreement, or understanding of any kind or nature with the corporation of which he is an officer, with the exception of the contract for services for which the officer or his assistant has been specifically hired, employed, or contracted.
The officials affected by this Order shall include the members and chairmen of the boards of directors, the managers, assistant managers and assistants to the managers, the treasurers, secretaries or secretary-treasurers, the auditors or comptrollers, the chiefs of divisions or departments, and such other members of the staff of government-owned corporations as are entrusted with discretionary powers, or are in possession of confidential information regarding the affairs of the corporations in which they are officials.
The operations of this Order shall also include the wives of these officials, as well as the other members of their household.
Done at the City of Manila, this 4th day of June, in the year of Our Lord, nineteen hundred and forty-one, and of the Commonwealth the sixth.
(Sgd.) MANUEL L. QUEZON
President of the Philippines
By the President:
(Sgd.) JORGE B. VARGAS
Secretary to the President
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