SEC. 29. Formation of plans.&mdashThe Authority shall, upon its organization, embark upon the early and expeditious formulation of its plans within the context of the guidelines set forth by the National Economic Council and shall within six months submit and report to the President of the Philippines a broad outline of its plans and programs for approval. Details of the approved plans and programs outline shall be submitted and reported for approval to the President six months after its organization but not later than one year.
SEC. 30. Implementation of plan and program.&mdashUpon approval of the plan and program outline referred to in the next preceeding section the Authority, upon direction of the President, shall immediately lay the necessary groundwork for its implementation. The Authority shall immediately proceed with the execution of its projects in the implementation of its plans and programs upon approval by the President of the details of the said plans and programs.
SEC. 31. Supervision by the President.&mdashThe Authority shall operate as an independent corporation subject only to the supervision by the President of the Republic of the Philippines, any provision of law to the contrary notwithstanding.
SEC. 33. 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 the 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, and 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. 34. Separability Clause.&mdashThe provisions of this Act are hereby declared to be separable. A declaration or unconstitutionality of any one or more of its provisions shall not affect the validity of the other provisions.
SEC. 35. 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. 36. Effectivity.&mdashThis Act shall take effect upon its approval.
Approved, June 1, 1964.
SEC. 42. Bidding for Supplies and SErvices—Exceptions&mdashAll purchase of supplies or contracts for services, except for personal services, entered intoby the Authority, shall be done only after the proper bidding is held: Provided,That the 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 service, or (2) the aggregate amount involved in any purchase of supplies or procurement of services does not exceed the amount of ten thousand pesos for any one month: Provided, lastly, That in comparing biods 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 services; the time of delivery or performance offered; and the bidder's compliance with the specifications desired.
Source: Official Gazette of the Republic of the Philippines — Philippine laws are public documents (works of the government).
