TANGGAPAN NG PANGULO NG PILIPINAS

(OFFICE OF THE PRESIDENT OF THE PHILIPPINES)

MEMORANDUM CIRCULAR NO. 634

REQUIRING ALL DEPARTMENTS, BUREAUS, OFFICES, AGENCIES AND INSTRUMENTALITIES OF THE GOVERNMENT, ALL PROVINCIAL, CITY AND MUNICIPAL GOVERNMENTS AND GOVERNMENT-OWNED OR CONTROLLED CORPORATIONS TO INSURE THEIR PROPERTY AND ASSETS IN ACCORDANCE WITH THE PROPERTY INSURANCE LAW

It has been reported that some agencies or instrumentalities of the Government have not yet complied with the requirements of Republic Act No. 656, otherwise known as the Property Insurance Law, in spite of Memorandum Circular No. 546 dated June 2, 1966, of the Auditor General.

In order to conserve the resources of the Government, all departments, bureaus, offices, agencies and instrumentalities of the Government, all provincial, city and municipal governments, and government-owned or controlled corporations are hereby directed to insure all property and other assets belonging to the Government, its agencies, and political subdivisions in accordance with the Property Insurance Law.

The Auditor General and the Government Corporate Counsel shall see to it that officials responsible for non-compliance herewith are prosecuted and penalized under Section 6 (b) of the Property Insurance Law without prejudice to the filing of proper administrative or anti-graft charges against them.

By authority of the President:

(SGD.) ALEJANDRO MELCHOR

Executive Secretary

Manila, May 10, 1973

Source: Presidential Management Staff