Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails.・Read the official text ↗
SEC. 38. Plans to be formulated within one year.&mdashUpon its organization, the Authority shall formulate and report to the President of the Philippines with the utmost expedition, but in no case longer than one year, its plans and recommendations for the accelerated and balanced development of the region within the context of the guidelines set forth by the National Economic Council and in accordance with the aims and purposes of this Act.
SEC. 39. Approval of plans.&mdashUpon approval by the President of the plans and recommendations referred to in the next preceding section in accordance with Chapter II, Section 5 (a) of this Act, he shall direct the Authority to implement them with dispatch and efficiency. The President shall issue such executive orders or proclamations as may be necessary to reserve or transfer such lands or public property to the Authority as are needed by it to accomplish the purposes of this Act.
SEC. 40. Authority directly under President.&mdashAny provision of law to the contrary notwithstanding, the Authority shall operate as an independent corporation subject only to supervision by the President of the Philippines.
SEC. 41. Supplies and services other than personal.&mdashAll purchases of supplies or contracts for services, except for personal services, entered into by the Authority, shall be done only after the proper bidding is held: Provided, That bidding shall not be required when: (1) an emergency, as certified to by the General Manager, requires immediate delivery of the supplies or performance of the services, or (2) the aggregate amount involved in any purchase of supplies or procurement of services does not exceed two thousand pesos in the case of services; in which case, such purchase or procurement may be made in the usual course of business: Provided, further, That the Authority's emergency purchases of supplies and services shall not exceed the amount of five thousand pesos for any one month: Provided, lastly, That in comparing bids and in making awards, the Authority shall consider such factors as the cost and relative quality and adaptability of supplies or services; the bidder's financial responsibility, skill, experience, integrity, and ability to furnish repairs and maintenance services; the time of delivery or performance offered; and the bidder's compliance with the specifications desired.
SEC. 42. Auditing.&mdashThe Auditor General shall be ex-officio Auditor in charge of the auditing office of the Authority. He shall appoint a representative who shall be the auditor thereof. The Auditor General shall, upon recommendation of the auditor of the Authority, appoint or remove personnel of the said auditing office in accordance with the Authority's merit system. The operating expenses of this office and the salaries and traveling expenses of these officials and employees thereof shall be fixed by the Board and paid by the Authority. Such representative shall render a semestral report on the financial condition and operations of the Authority to the Auditor General and the Board. The Auditor General shall submit to the President and the Congress an annual report covering the financial condition and operations of the Authority. These auditing reports shall contain a statement of the resources and liabilities including earnings and expenses, the amount of paid-up capital stock, surplus, reserves and profits, as well as losses, bad debts and such other facts which, under auditing rules and regulations, are considered necessary to accurately describe the financial condition and operations of the Authority: Provided, That before such reports are made, the Authority shall be given reasonable opportunity to examine the exceptions and criticisms of the auditor of the Authority or the Auditor General, as the case may be, to point out, explain or answer any inaccuracies therein, if any, and to file a statement which shall be appended by the auditor of the Authority and the Auditor General in their respective reports.
SEC. 43. Separability clause.&mdashThe provisions of this Act are hereby declared to .be separable, and in the event any one or more of such provisions are held unconstitutional, they shall not affect the validity of other provisions.
SEC. 44. Laws repealed.&mdashAll acts, charters, executive orders, administrative orders, rules and regulations, or parts thereof in conflict with this Act are hereby repealed or modified accordingly.
SEC. 45. Effectivity.&mdashThis Act shall take effect upon its approval. Approved June 17, 1961.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).