Sunday, January 14, 2018

Republic Act (RA) vs. Order

For the normal people like me, they are all the same considering that we have to follow or abide by. In this article, I tried to distinguish the terms using "Administrative Code 1987". Each government authorities also release memorandums, orders but I believe it has the same characteristics.

1. Bill
Bill is a proposed legislation under consideration by a legislature. It's not a law yet.

2. Republic Act (RA)
A Republic Act is a piece of legislation used to create policy in order to carry out the principles of the Constitution. It is crafted and passed by the Congress of the Philippines and approved by the President of Philippines. It can only be repealed by a similar act of Congress.

3. EXECUTIVE ORDERS (EO)
Acts of the President providing for rules of a general or permanent character in implementation or execution of constitutional or statutory powers shall be promulgated in executive orders.



4. Administrative Orders (AO)
Acts of the President which relate to particular aspects of governmental operations in pursuance of his duties as administrative head shall be promulgated in administrative orders.

5. Proclamations
Acts of the President fixing a date or declaring a status or condition of public moment or interest, upon the existence of which the operation of a specific law or regulation is made to depend, shall be promulgated in proclamations which shall have the force of an executive order.

6. Memorandum Orders
Acts of the President on matters of administrative detail or of subordinate or temporary interest which only concern a particular officer or office of the Government shall be embodied in memorandum orders.

7. Memorandum Circulars
Acts of the President on matters relating to internal administration, which the President desires to bring to the attention of all or some of the departments, agencies, bureaus or offices of the Government, for information or compliance, shall be embodied in memorandum circulars.

8. General or Special Orders
Acts and commands of the President in his capacity as Commander-in-Chief of the Armed Forces of the Philippines shall be issued as general or special orders.

Notes: Presidential Decree (PD)
Presidential Decrees were an innovation made by President Ferdinand E. Marcos with the proclamation of Martial Law. Only President Marcos issued Presidential Decrees. In the Freedom Constitution of 1986, President Corazon C. Aquino recognized the validity of existing Presidential Decrees unless otherwise repealed.


+++++++++++++++++++++++++++++++++++++++++

MARKET ISSUES

[last partial update : 02/28/2018] Macro and Overseas (a) US interest rate : 1.25 ~ 1.5%, May increase 3 times in 2018 (b) US 10 yr bond...