Fiscal responsibility shall be shared by all those

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 59.) Q: What is a Government Owned and Controlled Corporation (GOCC)? A: any agency organized as a stock or non‐stock corporation vested with functions relating to public needs whether governmental or proprietary in nature, and owned by the government directly or indirectly through its instrumentalities either wholly, or where applicable as in the case of stock corporations to the extent of at least 51% of its capital stock. (Section 2 (13) of Executive Order No. 292 (Administrative Code of 1987) Q: What are the requisites of a GOCC? A: 1. 2. 3. Any agency organized as a stock or non‐ stock corporation Vested with functions relating to public needs whether governmental or proprietary in nature Owned by the Government directly or through its instrumentalities either wholly, or, where applicable as in the POLITICAL LAW TEAM: ADVISER: ATTY. EDWIN REY SANDOVAL; SUBJECT HEAD: RACHEL MARIE L. FELICES; ASST. SUBJECT HEADS: WIVINO E. BRACERO II & HERAZEUS CHRISTINE Y. UY; MEMBERS: LAWRENCE PAULO H. AQUINO, LEANDRO RODEL V. ATIENZA, MARINETH EASTER AN D. AYOS, CARLO R. BALA, WILFREDO T. BONILLA, JR., KEEL ACHERNAR R. DINOY, APRIL V. ENRILE, KENNETH JAMES CARLO C. HIZON, JOSE MARIA G. MENDOZA, ROGER CHRISTOPHER R. REYES, ROMILINDA C. SIBAL, JASMIN M. SISON, ZARAH PATRICIA T. SUAREZ, RALPH JULIOUS L. VILLAMOR. LOCAL GOVERNMENTS case of stock corporations, to the extent of at least fifty‐one (51) of its capital stock. (Leyson, Jr. v. Office of the Ombudsman, G.R. No. 134990, April 27, 2000) Q: What laws may govern GOCCs and how do you determine which will govern? A: Government corporations may be created by special charters or by incorporation under the general corporation law. Those created by special charters are governed by the Civil Service Law while those incorporated under the general corporation law are governed by the Labor Code. (Blaquera vs. Alcala, G.R. No. G.R. No. 109406. September 11, 1998) Q: Distinguish public corporation from a GOCC. A: It is body politic and corporate con...
View Full Document

Ask a homework question - tutors are online