Section 13Sec./Art. 13

Disposition of Non-Cash Coconut Levy Assets. - Coconut Levy Assets defined in Section 3 hereof, which are assigned by the Trust Fund Management Committee to DDEs shall be privatized or disposed subject to the regulatory approvals as required by law within the period of five (5) years from the effectivity of this Act.

This Act shall in no case exempt Coconut Levy Assets from the respective jurisdictions of the various applicable regulators, particularly the Governance Commission for Government-owned or controlled Corporations (GCG), the Bangko Sentral ng Pilipinas (BSP), the Philippine Deposit Insurance Corporation (PDIC), and the Insurance Commission (IC).