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  • Bicam Report Re An Act Creating The Coconut Farmers and Industry Trust Fund

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    Bicam Report Re An Act Creating The Coconut Farmers and Industry Trust Fund

    Transféré par

    Frank Dagohoy

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    © All Rights Reserved
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    REPUBLIC OF THE PHILIPPINES CONGRESS OF THE PHILIPPINES 17th Congress 3” Regular Session CONFERENCE COMMITTEE REPORT The Conference Committee on the disagreeing provisions of Senate No. 1233, entitled: “AN ACT CREATING THE COCONUT FARMERS AND INDUSTRY TRUST FUND, PROVIDING FOR ITS MANAGEMENT AND UTILIZATION, AND FOR OTHER PURPOSES” and House Bill No. 5745, entitled: “AN ACT ESTABLISHING THE COCONUT FARMERS AND INDUSTRY DEVELOPMENT TRUST FUND AND PROVIDING FOR ITS MANAGEMENT AND UTILIZATION” ater having met and discussed the subject matter in full and free conference, fas agreed and does hereby recommend to their respective Houses that S No. 1233, in consolidation with HB No. 5745, be approved in accordance with the attached copy of the bill as reconciled and approved by the conferees, Approved, CONFEREES ON THE PART OFTHE — CONFEREES ON THE PART OF THE HOUSE OF REPRESENTATIVES. SENATE ve fh RL BOSE T. PANGANIBAN JR. CYNTHIA A. VILLAR Chaicpeesoit Chairperson since Cu pen i ite Zz JERICHO JONAS B. NOGRALES FRANCIS “CHi2"G. ESCUDERO ae (i=. ceiso [ES LOBREGAT a JOSEPH VICTOR G. EIERCIYO SS " EDCEL C. LAGMAN © FRANCIS “KIKO” PANGILINAN ) Fe ees MANOEL T. SAGARBARRIA UY ANGELINA TAN CONRADO M. ESTRELLA III ebay Wr ‘CECILIA LEONILA V. CHAVEZ eccllba EVELINA ae aa) ARTHUR GYAP. (eee - 4 DANILO E. SUAREZ L tbe relate eg a reac erh AG bee aa Lae exefome > yi, ‘ wae OFT) He. seo hit lelbone of te VAL ao Ge_ et (pABPE. yfekices tg (HE, pokes a on LOA @. 2 LAP SEVENTEENTH CONGRESS OF THE ) REPUBLIC OF THE PHILIPPINES — ) Third Regular Session ) JOINT EXPLANATION OF THE CONFERENCE COMMITTEE ON THE DISAGREEING PROVISIONS OF SN 1233 AND HBN 5745 ‘The Conference Committee on the disagreeing provisions of Senate No. 1233 «nd House Bill No. 5745, after having met and fully discussed the subject matter in a vonference, hereby report to their respective Houses the following: ‘The conferees agreed to adopt the Senate version as the working draft; On Section 3 (Definition of Terms), subparagraph (2), the definition of ‘Coconut Farmers has been amended by deleting the phrase “that is not more than five (5) hectares"; the definition on the Philippine Coconut Authority (PCA) under subparagraph (h) has also been enhanced to include in its definition the “reconstituted PCA, as provided by taw”. On Sec. 6 (The Coconut Farmers and Industry Trust Fund), second paragraph, the phrase “for a period not exceeding twenty-five (25) years from the effectivity of this Act” and the sentence “Thereafter, any and all monies and proceeds in the Trust Fund shall be transferred to a special account in the general fund of the National Treasury and shall be used exclusively for the herein stated purpose.” have been deleted, and the phrase "IN SUCH MANNER UNTIL FULLY UTILIZED” has been inserted between the phrases “shall be maintained” and “and shall be used” to now read “The Trust Fund shall be maintained in such manner until fully utilized and shall be used exclusively for the benefit of the coconut farmers and for the development of the coconut industry.” On Section 8 (Management and Investment of the Trust Fund), first paragraph, after the phrase “with similar aims,” the proviso “PROVIDED, THAT THE PCA SHALL ASSUME SUCH RESPONSIBILITY OF MANAGING AND INVESTING THE TRUST FUND ONLY AFTER ITS CURRENT BOARD SHALL HAVE BEEN RECONSTITUTED UNDER SECTION 11 OF THIS ACT.” has been inserted and the paragraph shall now read “Sec, 8. Management and Investment of the Trust Fund. ~The PCA shall manage and invest the Trust Fund Principal with the skill, care, prudence and extraordinary diligence necessary under the circumstances that a prudent person acting in like’ capacity and familiar with such matters would exercise in the conduct of an enterprise of a like character and with similar aims: Provided, That the PCA shall assume such responsibility of managing and investing the Trust Fund only after its current Board shall have been reconstituted under Section 11 of this Act. For this purpose, it shall adhere to the basic principles of safety, capital preservation, growth, and liquidity.” On Sec. 9 (Utilization of the Trust Fund), first paragraph, the proviso “Provided, That the annual expenditures to be funded out of the Trust Fund shall be included in the General Appropriations Act” has been deleted; the phrase "wuithin twenty-five (25) years” has also been deleted, and the proviso “AT AN ANNUAL ALLOCATION OF FIVE BILLION PESOS (P5,000,000,000.00), SUBJECT TO ANNUAL GOVERNMENT AUDIT, AND SHALL PROCEED UNTIL SUCH TIME THAT THE FUND IS FULLY UTILIZED: PROVIDED, FURTHER, THAT ANY UNUSED PORTION OF THE ANNUAL ALLOCATION OF FIVE BILLION PESOS (P5,000,000,000.00) SHALL REVERT TO AND FORM PART OF THE TRUST FUND." is now being added, so that the new paragraph shall now read “All dispositions or utilization of the Trust Fund or any portion thereof shall be in accordance with the Coconut Farmers and Industry Development Pian as provided for in Section 12 of this Act: Provided, That for purposes of the implementation of the Pian, the execution of programs and projects identified in the Plan that are allowed to be funded out of the Trust Fund, and pending the acctual or availability of the Trust Fund Income, the entire amount of the Trust Fund shall be disbursed by the PCA commencing from the approval of the Pian by the President at an annual allocation of Five billion esos (P5,000,000,000.00}, subject to annual government audit, and shail proceed until such time that the fund is fully utilized: Provided, further, that any unused portion of the annual allocation of five billion pesos (P5,000,000,000.00) shail revert to and form part of the Trust Fund.” Still on Sec. 9, the following amendments have been made on subparagraphs (a) and (d). On subpar (a), the phrase “thirty-five percent (35%)" has been changed to “thirty percent (30%)"; on subpar (b), the phrase “thirty-five percent e has also been changed to “thirty percent (30%)," and @ new sub Faph (e) is added which reads “(E) HEALTH AND MEDICAL PROGRAM, TEN ENT (10%), for a total of one hundred percent (100%).” On Sec. 11 (The Philippine Coconut Authority (PCA), the number of government representatives in the PCA under subpar (a) has been reduced to four (4) and the “official with cabinet rank to be appointed by the President” has been deleted; subpar (c) is added which reads: “ONE (1) REPRESENTATIVE FROM THE COCONUT INDUSTRY: PROVIDED, THAT THE INDUSTRY REPRESENTATIVE MUST BE A FILIPINO CITIZEN, HAS A CONSIDERABLE EXPERIENCE AND REPUTABLE TRACK RECORD IN PROMOTING THE INDUSTRY'S INTEREST aND WELFARE, AND NOMINATED BY INDUSTRY ORGANIZATIONS OR ASSOCIATIONS THAT ARE ACTIVE FOR THE PAST THREE (3) YEARS IN THE INDUSTRY. THE REPRESENTATIVE SHALL BE APPOINTED BY THE PRESIDENT FROM A LIST OF FOUR (4) NOMINEES, AS SUBMITTED BY THE PCA BOARD. HE/SHE SHALL HOLD A TERM OF THREE (3) YEARS, AND MAY BE REAPPOINTED ONCE. ANY APPOINTMENT TO FILL THE VACANCY ARISING FROM DEATH, REMOVAL, RETIREMENT OR RESIGNATION OF THE INDUSTRY REPRESENTATIVE SHALL ONLY BE FOR THE UNEXPIRED TERM.” The last paragraph of the same Sec. 11 has been amended to insert the words “REPRESENTATIVE,” “AND COCONUT INDUSTRY RESPECTIVELY,” and “AND INDUSTRY”, On Sec. 19 (Mandated Appropriations for the PCA). in the first paragraph, a Proviso is inserted between the phrases “activites of the PCA” and “The said appropriations”, which reads: "PROVIDED, THAT THE ALLOCATION AND USE OF SUCH ANNUAL APPROPRIATION BE REVIEWED BY CONGRESS AFTER TEN (10) YEARS FROM THE APPROVAL OF THIS ACT.” The subparagraphs (b), (2), and (g) of the same Section 19 were amerided the phrase “AND ESTABLISHMENT OF HYBRID COCONUT NURSERIES * was added in subpar (b); the phrase “COCONUT DISEASE PREVENTION, CONTROL, AND ERADICATON" was added in subpar (e); and the phrase “AND ALL DERIVATES OF COCONUT OIL” was added in subpar (g) In case of conflict between the statements/amendments stated in this Joint planation and that of the provisions of the consolidated bill in the accompanying Conference Committee Report, the provisions of the latter shall prevail Approved, house of Representatives 30SE TLPANGASTEAR IR. Chauepers frog hry CYNTHIA A, VILLAR Chairperson Senate CONGRESS OF THE PHILIPPINES |) Sevintet ntti CONGRESS ) Third Regular Session ) Republic Act No. AN ACT CREATING THE COCONUT FARMERS AND INDUSTRY TRUST FUND, PROVIDING POR ITS: MANAGEMENT AND UTILIZATION, AND FOR OTHER PURPOSES Be it enacted by the Senate and House of Representatives of He Philippines in Congress assembled: SECTION 1. Short Title. = This Act shall be known ns che ‘cmt Farmers and Ladustry Development Act si 2. Declaration of Poliey. ~ It is hereby declared the poltey of the State to consolidate the benefits due to euconut farmers, especially the poor and marginalized, under various statutes and to expedite the delivery thereof to attrin increased fru productivity and income of coconut farmers through the rehabilitation and modernization of the cuconut industry 1 DEPINITION OF TERMS 3. Definition of Terms, ~ As used in this, Act (a) CUP shall refer yo the Coconut Jniustey tnvesument Bund created by virtue of Presidential Decree No. 1168; Qo) CHE-O8 Mitts Group stud velor wa che CHP cangeatien. Southern Lazon Coconut Ost Malls; Cagayan de Gx Git Coo Tne. Hagan Cocanat Industries, Une. Sau Palo Micnedictuciane Corp: Granexport Manufacturing Corp.; and Legasp) Dil Co, ine; lO CHF Holding Companies shail refer to the fourteen (1) holding companies; namely: Anglo Ventures Corporation; AS( lavestors, Ines ARC. hn rors, Ines AL Holdings, Ine Holdings, Ine; First Meridian Devetopa 6 Randy Athed Ventures, Ing; Rock Steel Resources, Ines Koss Shares, Ines San Miguel Officers Corps. Ines Sortane Shai Inc: Pe Deum Resourees, Ine; Toda Holdings. Inc and Valhalla Propertios Limited, Ines (a) Concerted San Miguel Corporation (SMC) Series 1 Prejerred Shares sball refer to the 753,818,312 preferred shares of stock in SMC declared owned by the government, together with all the dividends declared, paid or issued thereon, as well iw any increments thereto arising from, but not limited tu, the exereise of pre-emptive rights; (e) Coconut Rarmer stall refer to (2) An owner of a coconut farm, who: (i) ‘Tills the land (owner-cultivato Gi) Does not till the land, but has eontval and supervision over the cultivation of the coconut farn (2) A teaseholder or tenant who tills or supervises: tle cultivation of the farm; or (3) A farm worker or laborer, whether seasonal or itinerant engaged in the harvesting of the nuts and processing of cuprs major means of livelihood: (0) Coconut Leey Assets shall vefisr wo any sind all kinds uf property, whether real or personal, tangible or intangible wherever situated, which have been acquired Ohevue die Cowraat Jevy Funds as dofined in this section, inefuding those assets that may be recovered ist favor uf the government, as well as die fruits, or income therelvom, inctuding those acquired 10 exebange or substitution thereof ‘Whose shall include, among others, the Collowins: (4) The shares of stock in United Coconut Planters Bank (UCPH) that were determined to be owned by the govyerament <2 (ii) The CUF - Oi! Mijls Group; Gi) The CUP Holding Companies: and iv) The Converted SMC Series 1 Preferred Shares; (&) Coconut Levy Funds shall oferta various funds generated from levies, taxes, charges, and other fees exaetedt or imposed pursuant to or in connection with the sale of copra reeeeudda or its eq) ‘alent in other coconut products, and cullected for the most part from coconut fa ners, planters, millers, refiners, processors, exporters, desieeators and other end-users af copie rececada or its equivalent in other coconut product Specificall «the term shall refer to any’ or all of the following: @ ‘The Coconut Investment Fund created under Kepublie Act Nu, 6260: Gi) ‘The Coconut Consumers Stabilization Fund, later renamed as the Coconut Induscry Stabilization und, created under Presidential Decree No, 276; Gi) The Coconut Industry Development Fund created under Presidential Decree No, 5 diy) The Coconut Industry Investment Vand created under Presidential Decree No, L168; and (©) The Coconut Reserve Fund under Presidential Deoree No. L168 and Presidential Deerae No, 1812, di) PCA shall celer to the Philippine Coconut Suthorny, erented undor Presidential Beeroo No, 2 (8. (97:8, 8 amended by Presidential Decree No. M68 (S. 1078): it stud abs eefer (a the reconstituted PCA, as provided by law. @ PCGG shall refer to the Presidential Commission on Good Government, ereated under Bxeeutive Order No.1 (8. L9G) o 1 @ PMO shall refer to the Privatization sind Management Office organized under Article IL of Executive Order No. + 2000, ' (ky Plan shall refer to the Coconut, armees and Lndustey 5 Development Plan, to be propared under Section 12 of this Act: fe (D President shall refer to the President of the Republic of the Philippines: s (m) Trust Bund shall vefor to the Coconut Farmers sand 9 Industey Trust und eveated under ection Gof this Act; 10 (a) Trust Hund Income shall refer to the income, interest 11 carnings, and other monetary benefits, realized by and aceruing 1 12 the ‘Trust Bund ov any portion thereof; and la (o) Trust Bund Principal shall refer to: uw (The initial Trust Principal which shall be eomporigs of 15 the proceeds from the redemption of the Converted 8 MC Series 1 vd Shares, dividends declared, paid, or issued onthe 17 Converted SMC Series 1 Preferred Shares, and ull income ov 18 interest derived therefrom as of the effectivity of this Act aud sang ss 14 elher cxah Coconut Tany Acwot, tbat are held kyrihe urea wr 1S 8 20 "Treasury (Br) aw a special aecouat jn tho general fel snd as a ss 21 eserow account, and cash eld by UCPB as administrator of the cu, f bee 2 Gi) Any and all proceeds of privatization uf! the Uovunut ‘ Ka Assots remitted thereto by the PMG, and \ 8 Gili) Proceeds of privatization of aay ar al yenection of | BG aonetx conveyed by any person, group or entity tn the PCA, fron ime to time, as provided in Seetion 7 hereof * n I - AUDIT AND RECONVEYANCE OF COCONUT LEVY AAssirts Na SOS ‘ —SSS 1 See. 4. Accounting, Inventory and Audit of Covonns Lery i N lsseds. — Within thirty (0) days from the effectivity of this: het 8 the PCGG shall conduct a complete accounting and inventory of ra {the Covonut Levy Assets, including the amount, value, description 5 and nature of such funds, properties, asscta, revortls, chores in 6 action, and other rights, elaims, or ewuses of action pertuin 7 therety, as well as the investments, disbursements and ; SS expenditures relating to the Coconut Levy Funds and sulin a 9 report to the Office of the President, the PCA and the Commnssion lo on Audit (COA), n “Phe COA shall audit the accounting and inventory of the 2 Coconut Levy Assets: prepared by the PCOG, for the pus af 15 among others, determining the completeness af the said inventory 11 establishing the reasonableness of the asset valuation, snd inten 15 the flow of the Coconut Levy Funds. 6 Within sixty (G0) days from the submission of the 17 accounting and inventory of the Coconut Levy Assets, the CON 1s shall submit to the PCA its audit report, together wath a cumplets 19 fist of Coconut Levy Assets and their valuation, and (he empireal 20 ba and the methodologies employed for the said vahtaGon. 2 ‘The PCA shall, within fifteen (15) days from its receipt of 22 the audit report, publish the same in at least two (2) newsps Y 28 of wational circulation. 2 Nothing herein shall be construed as preventing ihe PMG ase 45 from procuring a thitd-party appraisal of auy of the Coconuc Levy 7 Assets prior to ar in the course of preparing the privatization or disposition plans for the said assets ‘ 2s See. 5. Reconveyance of Coconut heer As Immediately upon the effectivity of this Act, the POGG, the \ ‘ij goveramont ipremniatives 0 1hG! bounty \ _ a 7 as sequestered/surrendered orporations, and any government ayeney or person having any Coconut Levy Amsiet in ibs administration, authority, custody or control whieh have bees finally declared by the Supreme Court as belongs (thy government, shall perform or cause the performance of che fullewwings (1) Reconvey title to the Republie of the Phippines over the Cocumut Levy Assets (2) Deliver all. stock certificates and other evidence owcnership to the BTr for safekeeping: and (3) ‘Transter all cash Coconut Lavy Assets to the rvest Pand Provided, ‘That no temporary restraining order (TKO) or any injunction order can be issued exeopt by the Supreme Court ‘Phe COA shall conduct an audit to determine compheance with pertinent laws, rales and regulations on reconyeyaune. af the Covonutt Levy Assets (0 the Republic of the Pluhippines in COCONUT FARMERS AND INDUSTRY THUS? FUND Sse. 6. The Coconut Farmers anid Inclustry Trust Bur ‘Phere is hereby created a Trust Fund to be known ats the “Cocunat read to ase the Farmers and Industey Trust Pand,” horem ye Peast Fund”, whieh shall be capitalized, aueuezed, atvested utilized and accounted for in the manner provided sn this Net ‘pho ‘Trust Fund shall be maintained an xuct meaner ACL fully atiticed and shall be used exclusively for the bencttt of the eoconut farmers and for the development of the coconnt mdustry 7 Capitalization of the Trust Fund, ~The prucersls from the redemption of the Converted SMC Series 1 Preferred Shares, dividends declared, paid, or issued on the Converted SMC Cbeeny Series 1 Preferred Shaves, and all income or interest derived therefrom as of the effectivity of this Act. and any other cash) Coconut Levy Asset, that are held by the Br as a special teint in the general fund and as an eserpw account, aul cash held by LCPB as administrator of the CI \ shall form pieet of the amanal ‘Veust Fund Principal of the Trust Bund. For (his purpose, ay provision of law to the contrary notwithstanding, the Ty and UCP shall transfer any and all monies to the ‘Treat Fund ‘The ‘Trust Pund shall therenfier be augmented with all proceeds of privatization/disposition of the Coconut Levy Assets remitted directly thereto by the PMO in aceordance with this Act, any and all forms of income, interests, earnings, yields, oF any monetary benefit derived prior to the privatization or disposition or Assets, and any and all forms of of the Covonut Levy income, interests, earnings, yields, or any monetiry beswht Ucrived from retained Coconut Levy Assets. Nothing in this Act shall be understood fo prevent or prohibit any person, group or entity frum conveying to the POA 1s either for the use uf! (hie other properties and/or additional a coconut industry, or for purposes of privatization, in which cuse the proceeds of such privatization shall form part of the ‘Trust Fund SHO. S. Management aud lncestacent af the Prast Baad. ‘The PCA shal) manage and invest the Trust Fund Principal wrth tho Skil, care, prudence and extraordinary ddigenee aceessury under the circumstances that a pradent person aching mn like capacity. and familiar with such matters would! exerense 4 the conduct of an enterprise of a Tike character and with similar aime: Phocided, Phat the PCA shall assume sueb responsibility: of managing and investing the Trust Pund only after is current fue Board shall have been reconstituted under Section HY of this Net For this purpose, it shall adhere to the basic prineiples of say capital preservation, growth, and liquidity. "To ensure the safety of the funds and for assured returns, all of the ‘Trust’ Fund shall be pheed only in Philippe government securities, Immediately upon the effectivity of this \et, the [Pr sbul invest all cash Coconut Levy ssets under its administration in government securities that will provide the best pussible return for the Trust Pund, For the purpose of the management and investment of the ‘Prust Fund, the PCA shall have the following powers antl functions: (a) Approve disbursements from the ‘Trust Fund, ineludi the funding for @) the formulation of the Coconut Farmers and industry Development Plan, and (ii) the conduct of the inventury and audit of the Coconut Levy Assets, which shall be charged against the initial T Pand Principal or the ‘Prust Hund Income whon available: tb) Exor ise on bebalf of the national government all rychis hind incidents of ownership to the Coconut Levy Assets, inluding the right to vote, whether directly or through duly anthonzed cuminces, shares of stock held in the came of the setiout government; fe) Approve or disapprove. on bela of dhe aatiowid government and without need of any further approval by, or other action from any other government institution or ageney, the sale disposition or dissolution of such assets, which sale or disposition shall be conducted by the PMO: Provided, That the PCA ibsell, or any of its members, are probibited from undertaking the 8 SS ' marketing of any such assets, participating i the negotiation for their sale, or making the sale itself, or bring about any situation which may give ¢ toa conflict of interest; (@ Approve the fi cial requirements of the PMO in velation to its functions set forth in this Aet, including its annual nudget for oper ions, management and privatretionétispusitinn of the Coconut Levy Assets transferred unl ontrusted ander it (©) Issue policies, rules and guidelines as may be nce to implement the provisions of this Act (Maintain records and accounts of all investments receipts, dishwsements and other transactions vokiting 1 the management, administration and utilization of the ‘Trust Mund Provided, That these records and accouats shall be miaintained in areordance with existing accounting and auditing kuws, rules and regulations, and shall be audited by the CO.\: and (2) Exereise such other incidental powers sand fancbons iis xy to attain the objectives of the Act Swe. 9. Utilize jon of the Trust Fund. Nib chspositions or utilization of the Trust Fund or any portion thereat shill be si aecardance with the Covonut Farmers and Industey Developan Plan as provided for in Section 12 of this Act: Provided, That for pecpases of the implementation of the Phun, the exceution of programs and projeets.identified im the Plan (hat are allowed to be funded out of the Trust Fund, and pending the werwd or availability of the Trust Fund Income, the cntize amount of the ‘Trust Fund shall be disbursed by the PCA commencing froin the approval of the Plan by the President a au annual allusion of Five Billion Pesos (P5,000,000,000.00), subject to anuititl government audit, and shall proceed until sweb time Uhat the fund aa } 3 tie Ge bte f, {AY 3a Chairperson: the Secret Lis Cully utilized: Provided, further, That any anused portiun af the ion of five billion pesos (25.000,00,000.00) shall #yevert to and form part of the Trust Pund, 1 ‘he Coca Levy‘ Fund shall be utilized as fallow: (a) Shared facilities progeam, thirty percent (80%): 6 tb) S holarship program. fifteen percent (15%m); i (©) Empowerment of coconut farmer orssanizaition sal chew SX _couperatives, fifteen percent (15%); 9 (Farm improvement to encourage self-sulficieney, thirty 10 pereent (30%): ant " (©) Health and medical program, ten peveent (10%), for a 12 total of one hundred percent (100%), bs See. 10, Designation of the Burews of Treasury (BP) as 11 Depository of the ‘Trust Fund. — Any law te the conten 15 notwithstanding, the BTr is hereby designated as the depostiney of 16 dhe Trust Fund, whieh shall: (a) hold and acount the rust Kun 17 an the manner set forth by the PCA; and (b) release funds directly 18 ta the amplementing agencies upon the instruction af the POS, 19 . 20 ‘Pues PILLIPPING COCONUT AUPHKOETEY ay See. U1. The Philippine Coconut Authority (PCA) — The 22° PCA, an independent public coxporation evented unter 28 Vyesidential Decree No. 1468, shall be reconstituted aul 21 strengthened to ensure -the participation of covoma farmers in she 25, crafting and implementation of the Coconut Parmers und tmdiastey Development Phin, The compositian of dhe POA Doard ip tereby aunended and the same shall now be compost of the foltowing os (a Four GD representatives of the government, the Seevetary of the Department of Ageieulture GA) as the of the Department uf Finance (DOF reese fe. 0 =e asthe coed wy 20 ais the View Chairperson; and, as members, the Seerekuy of the Department of Budget and) Management (DBM. seid the Adamnistrator of the PCA, tb) Six (6) representatives from the eneonal Garmers eet divided into two (2) representatives caeb for the island groupiny of Luzon, Visayas and Mindanao, as members: Provided, Phat the six (G) representatives from the eoeanut farmers sertor must be Filipino citizens, registered with the Coconut Barmens Regis) have considerable experience and reputable (rack yweord ath promoting esvonut. farmers interest and welfare, and yonunated hy coconut farmers organizations or cooperabives that are wtive for the past three 8) years in humer organization and development or community enterprise developteat, ‘They sbeell be appointed by the President from a list of fiur C1) nominees for each island grouping, as submitted by the PCA Board, ‘They shail cach hold a term of three @) years, and may be reapported unee Any appointment to fill the vacancy arising fin death, removal retsrement or resignation of the representative of the cumnut farmer sector shall only be for the unexpired term; and fe) One (1) represintative from the exconut sndustry Provided, That the industry representative must be a Filipino eatizen, has a considerable expesience and reputable track recor ty promoting the industry's interest and welkure, sind nuauntied by industey organizations oF associations that are acnve for the pont three (3) years in the industry. The representative shall be unmuinted by dhe President fram a list af four Clr riaiunees, submitted by the PUA Board, Hefhe shall hol a term of three Giyyears, and may be reappointed once. Any appointment te tl bh, removal, retirement or the vacancy arising from dea u -OsS vesignation of the industry representative shall only be for the unexpired term, Within thity (30) days following the effectivity of Gus \o4 furmers sector and coconut industry respectively in the POA wn ‘ consultation with the coconut farmers nd industry vnzaniatin S : 3 COCONUT FARMERS AND INDUSTRY DEVELOPMENT PLAN See. 2. Preparation of the Coconut Farmers and lndustry Development Plan, ~The PCA shall prepare the Coconut Parner y Development Plan, In the pertormance of its functions, the POA shail consult voronut farmers and their organizations, industry assceudtions, civil society organizations, academe, government agencies suncerned and other stakehoklers in the eocunut tunlustiy ‘Phe Phin shall set the diveetions and poliews lor tw development and rehabilitation of the caeonut industry, 10 shill Ueline the voles and contribution of Coconut Levy Assets le be support said relubilitation and development, which shall serve ses basis in the privatization/disposition of all of the Coconut Lavy Ansiots. Jn the formulation of the Plan, the PCA shall be yandod by \ ho following objectives: iy Gu Tucreased farm productivity and incomes uf econ (h) Lntensive effort on intereropping uni livestock ratsine, 1 (c) Bstablishment of eoconut-haseal enterprises \ -—SO ” 0 Gab) Rehabilitation and modermization of the coconut industry towards global competitiveness: and fe) Poverty alleviation nd soeial equity. ‘he Plan shall include a national progeam fiws (a) coconut crup productivity, intereropping and livestock raising: (hy community-based coconut enterprises, inelading integrated processing af coconut products and downstream: pnaduets, 6) cuconut farmers organization and development; aad (dy social protection that direetly benefit coconut farmers, fran worker, anul their families, taking into consideration existing sucial protection programs of the government: Provided, ‘Phat the Phun shall take into account the feedstock demand for Tuofuels and wiher existing policies on the use of exonuts: Provided, further ‘Phat the POA shall, within three (3) months from he etfectivity of this Act, complete the Coconut Farmers Registry, ‘Phe Plan shall provide the criteria for Largetms beneficiaries, the indicators in determining the attamment of the ahovementioned objectives, and the mechanisms for monitoring id evaluating the impact of the different components af! the program, ‘Phe Plan shall also include steategic and inclusive: training, programs dedicated for one coconut farmers based from a camprehunsive review uf existing training prota. Programs yelating to planting, replanting, forGhyation, research aud development, market promotion, ferurtrantrhet roads, and direct lending, shall be funded through rexubw appropriations. ‘we Plan shall provide an indieative funding requirement or allocation for the implementation af any and all of the psvavams cand projects to be funded by the initial rust Bund Peinerpal and Sree —s 2 Ce: rr sh : 3 the Trust Fund Income, which funding or allocation shill bx Hemized ov broken down on a projeet-to-project humas: Provided, That, (i) for projects which are recurring, ar to be implemented on ular basis, the alloeation shall indieate the annual find that may be required to implement said project: (i for projects that ane tu be implemented oF concluded within a period of time, the allocation shall indicate the total fund that may be requised or the implementation of the whole project, Htemized accordant ths phases or stages of said projeet; and (ii) that all projects shill be evaluated on the basis of financial returns and increased femur Within one hundred eighty (180) days front the effectivity of this Act, the Pkin shall be subnutted to the President, ss endorsed by the PCA, tor approval “Any amendment or revision to the Phan shall regains the approval of the President vi Pravariza TION OF THLE COCONUT LEVY ASSES SEO, 1, Privatization of the Coconal Levy Aawets. — Pursuuint to the diveetion and policies set in the Phan, the PCA throat thy PMO shall privatia: all Coco Levy Assets an identified onter Section horoof Puc dhis purpuse, the PCA shall be guided by any of Uh folluasing stadavebs a) The functions or purposes for which the eatity wats 0 I created are no Tonger relevant to the State 2 eonsastont wilh the national development policy of the State: (by Phe functions or purposes of the entity duplieie ur unaceessarily overlap with funetions, programs, swtivite iy provided by another ayy 1 oP projects al io

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