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EXECUTIVEORDERNO.405June14,1990
VESTINGINTHELANDBANKOFTHEPHILIPPINESTHEPRIMARYRESPONSIBILITYTODETERMINETHE
LANDVALUATIONANDCOMPENSATIONFORALLLANDSCOVEREDUNDERREPUBLICACTNO.6657,
KNOWNASTHECOMPREHENSIVEAGRARIANREFORMLAWOF1988
WHEREAS,RepublicActNo.6657,ChapterVI,providesinpartthat:
"Sec.17.DeterminationofJustCompensation.Indeterminingjustcompensation,thecostofacquisitionoftheland,
thecurrentvalueoflikeproperties,itsnature,actualuseandincome,theswornvaluationbytheowner,thetax
declarationsandtheassessmentmadebythegovernmentassessorsshallbeconsidered.Thesocialandeconomic
benefitscontributedbythefarmersandthefarmworkersandbytheGovernmenttothepropertyaswellasthenon
paymentoftaxesorloanssecuredfromanygovernmentfinancinginstitutiononthesaidlandshallbeconsideredas
additionalfactorstodetermineitsvaluation.
Sec.18.ValuationandModeofCompensation.TheLBPshallcompensatethelandownerinsuchamountasmay
beagreeduponbythelandownerandtheDARandtheLBP,inaccordancewiththecriteriaprovidedforinSections
16,and17,andotherpertinentprovisionshereof,orasmaybefinallydeterminedbythecourt,asthejust
compensationfortheland."
WHEREAS,theLandBankofthePhilippinesemployscommercialbankingpersonnelwhoseprofessionalexpertise
includesappraisalofagriculturalpropertiesforpurposesofgrantingloans
WHEREAS,theimplementationoftheComprehensiveAgrarianReformProgram,particularlyonthematterof
acquisitionanddistributionofprivateagriculturallands,maybeacceleratedbystreamliningcertainadministrative
proceduresinlandvaluationandcompensation
NOW,THEREFORE,I,CORAZONC.AQUINO,PresidentofthePhilippines,byvirtueofthepowersvestedinme
bylaw,doherebyorder:
Sec.1.TheLandBankofthePhilippinesshallbeprimarilyresponsibleforthedeterminationofthelandvaluation
andcompensationforallprivatelandssuitableforagricultureundereithertheVoluntaryOffertoSell(VOS)or
CompulsoryAcquisition(CA)arrangementasgovernedbyRepublicActNo.6657.TheDepartmentofAgrarian
ReformshallmakeuseofthedeterminationofthelandvaluationandcompensationbytheLandBankofthe
Philippines,intheperformanceofitsfunctions.
AftereffectingthetransferoftitlesfromthelandownertotheRepublicofthePhilippines,theLandBankofthe
PhilippinesshallinformtheDepartmentofAgrarianReformofsuchfactinorderthatthelattermayproceedwiththe
distributionofthelandstothequalifiedagrarianreformbeneficiarieswithinthetimespecifiedbylaw.
Sec.2.TheDepartmentofAgrarianReformshallcontinuetoperformitsfunctionsunderRepublicActNo.6657,
particularlyintheidentificationoftheprioritylandholdingsforcoverageundertheComprehensiveAgrarianReform
Program.
Sec.3.TheLandBankofthePhilippinesisherebyauthorizedtoaugmentitsmanpowerresourcesforthepurpose
ofimplementingthisExecutiveOrder.
Sec.4.ThisExecutiveOrdershallnotbeconstruedtodiminishtherightsandremediesofthelandownersand
agrarianreformbeneficiariesunderRepublicActNo.6657.
Sec.5.ThisExecutiveOrdershalltakeeffectimmediately.
DONEintheCityofManila,this14thdayofJune,intheyearofOurLord,nineteenhundredandninety.
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