ABOLISHING THE SURPLUS PROPERTY LIQUIDATING COMMITTEE AND TRANSFERRING ITS FUNCTIONS, POWERS AND DUTIES TO THE BOARD OF LIQUIDATORS CREATED UNDER EXECUTIVE ORDER NO. 372, DATED NOVEMBER 24, 1950
Pursuant to the powers vested in me by Republic Act No. 422, I, ELPIDIO QUIRINO, President of the Philippines, do hereby abolish the Surplus Property Liquidating Committee created under Executive Order No. 275, dated September 30, 1949, in connection with Administrative Order No. 90, dated May 19, 1949, and transfer its functions, powers, duties, records, properties, funds, and other assets and liabilities to the Board of Liquidators created under Executive Order No. 372, dated November 24, 1950.
The proceeds from the liquidation of the Shipping Administration which have been placed to the credit of the Surplus Property Liquidating Committee under Executive Order No. 346, dated September 22, 1950, shall also accrue to the Board of Liquidators for the settlement of all pending obligations of the defunct Surplus Property Commission.
This Order shall take effect upon its promulgation.
Done in the City of Manila this 1st day of December, in the year of Our Lord, nineteen hundred and fifty, and of the Independence of the Philippines, the fifth.
(SGD.) ELPIDIO QUIRINO
President of the Philippines
By the President:
(SGD.) TEODORO EVANGELISTA
Executive Secretary
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