Section 16Sec./Art. 16

Reporting Requirements. - The Trust Fund Management Committee shall, on a semi-annual basis, submit to the President and to the Congressional Oversight Committee on Agriculture and Fisheries Modernization (COCAFAM) a report on the status of disposition of the Coconut Levy Assets, which shall include, among others, a description of the individual assets disposed of, their purchasers, the consideration received, and the agreed terms of payment.

The DDEs shall, within three (3) months following the closure of books at the end of each fiscal year, submit a comprehensive annual report duly approved or endorsed by the PCA to the President and to the COCAFAM on the status of its privatization efforts and its disposition program for the Coconut Levy Assets, which shall include the items described in the immediately preceding paragraph.

VII

FINAL PROVISIONS