Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails.・Read the official text ↗
lncorporation.
SEC. 15. lncorporation.—The members of the first Board of Directors shall be elected by the stockholders and the incorporation shall be held to have been effected from the date of the first meeting of such Board. The Directors shall be elected in accordance with the provisions of Section thirty-one of Act Numbered One thousand four hundred fifty-nine, as amended, otherwise known as the Corporation Law.
Board of Directors; composition.
SEC. 16. Board of Directors; composition.—The corporate powers shall be vested in and exercised by a Board of Directors, hereinafter referred to as the Board, which shall be composed of seven (7) members. The Board of Directors shall elect annually from among their members a Chairman and a Vice-Chairman, and a Secretary who may not be a member of the Board.
Acting Chairman.
SEC. 17. Acting Chairman.—In case of vacancy in the position of Chairman, or in the absence of or temporary incapacity of the Chairman; the Vice-Chairman shall act as such until a new Chairman is duly elected by the Board.
Election and tenure.
SEC. 18. Election and tenure.—The first members of the Board shall be elected in accordance with the provisions of Section fifteen of this Act, whose terms of office shall be as follows: two at the end of the first year; two at the end of the second year; two at end of the third year; one at the end of the fourth year. Thereafter, the succeeding members of the Board of Directors shall serve the term of four (4) years from the date of their election.
Vacancy before expiration of terms.
SEC. 19. Vacancy before expiration of terms.—Any member elected to fill any vacancy in the Board occurring prior to the expiration of the term for which his predecessor was elected shall serve only for the unexpired period.
Effect of vacancies quorum.
SEC. 20. Effect of vacancies quorum.—Vacancies in the Board as long as there shall be four members in office, shall not impair the powers of the Board to execute the functions of the Authority. The affirmative vote of four (4) members of the Board shall be necessary at all times to pass ot approve any act or resolution.
Qualification of Directors.
SEC. 21. Qualification of Directors.—All members of the Board shall be natural born citizens of the Philippines. No person shall be elected as a member of the Board unless he be of unquestioned integrity and competence. Management experts and technical personnel employed in government agencies shall not be barred from serving as members of the Board and receiving per diem therefor: Provided, That the appointment of government personnel is made with the consent of their respective chiefs of office.
SEC. 22. Prohibition against "(Conflict of Interest."—No member of the Board shall be financially interested, directly or indirectly, in any contract entered into by the Authority or in any special privileges granted by the Authority during his term of office. All contracts entered into in violation of this provision shall automatically be null and void. Any member of the Board found violating the provision of this section by two-thirds (2/3) vote of the Board shall automatically be disqualified from serving his unexpired term, and he shall furthermore be perpetually disqualified for membership in the said Board.
Removal, courtesy resignation.
SEC. 23. Removal, courtesy resignation.—A member of the Board may be removed from office by a vote of the stockholders holding or representing three-fourth (3/4) of the subscribed capital stock outstanding and entitled to vote. No member of the Board shall be required to submit a courtesy resignation at any time during is term of office.
Board meetings.
SEC. 24. Board meetings. —The Board shall meet at least once a month, but in no case shall it meet more than once a week. The Board shall be convoked by the Chairman or upon written request signed by a majority of the members.
Per diems.
SEC. 25. Per diems. —The members of the Board shall receive for every meeting attended a per diem of one hundred pesos (P100.00): Provided, That in no case will the total amount received by each exceed the sum of one thousand pesos (P1,000.00) for only one month. Members of the Board shall be reimbursed by the Authority for actual expenses including traveling and subsistence expenses incurred by them in the performance of their duties for the Authority as authorized by the Board.
Powers of General Manager.
SEC. 26. Powers of General Manager. —The General Manager shall be the chief executive of the Authority. As such, he shall have the following powers and duties. a) To prepare the agenda for the meeting of the Board and to submit for consideration thereof the policies and measures which he believes to be necessary to carry out the purpose and provisions of this Act; b) To execute and administer the policies and measures approved by the Board; c)c) To direct and supervise the operation and internal administration of the Authority. The General Manager may delegate certain of his office administrative responsibilities to other officers of the Authority subject to the rules and regulations of the Board; and d)To exercise such other powers as may be vested in him by the Board.
Appointment and qualification of General Manager.
SEC.27. Appointment and qualification of General Manager.—In addition to the qualifications for Director set forth in Section twenty-one of this Act, no person shall be appointed General Manager unless he be of demonstrated executive competence and experienced in the field of public administration or the management of agricultural, industrial, or commercial enterprises: Provided, however, That the General Manager appointed shall be an ex-officio member of the Board without, however, any right to vote.
Tenure of Office of the General Manager.
SEC. 28. Tenure of Office of the General Manager.—The General Manager shall serve for a fixed term of six (6) years, unless earlier removed from office by vote of the stockholders holding or representing two-thirds (2/3) of the subscribed capital stock outstanding and entitled to vote.
Compensation.
SEC. 29. Compensation.—The General Manager shall receive a compensation of twenty-four thousand pesos (P24,000.00) per annum which shall be charged against the annual appropriation of the Authority for operating expenses. The Board of Directors shall provide per diems and allowances for the General Manager.
Residence.
SEC. 30. Residence.—The General Manager shall establish his residence within the region. The General Manager shall not, during his term of office, engage in any business or profession or calling other than those connected in the performance of his official duties as General Manager of the Authority.
Activities of the Authority: Key Officials.
SEC. 31. Activities of the Authority: Key Officials.— The activities of the Authority shall be carried out under the supervision of the General Manager through the following administrative officials who will be responsible directly to him: a)An Assistant General Manager who shall have such powers, duties, and functions that may be delegated to him by the General Manager, and shall act as General Manager in the absence of or during the temporary in capacity of and/or until such time as a new General Manager is duly appointed; A division chief who shall head a division for operations; b) A division chief who shall head a division for planning, programming and research; c) A corporate counsel with the rank of division head to advise and represent the Authority on legal matters, procedures and actions; e) A corporate treasurer, with a rank of division head, who shall have custody of the funds and properties of the Authority; f) Such other officials as the Board of Directors may consider necessary for the efficient conduct of the activities of the Authority.
Merit System.
SEC. 32. Merit System.—All officials, agents and employees of the Authority shall be selected and appointed on the basis of merit and fitness in accordance with a comprehensive and progressive merit system to be established by the Authority. Personnel, including temporary workers, shall be governed by such merit system.
Appointment by Board.
SEC. 33. Appointment by Board.—The Assistant General Manager and the division chiefs, shall be appointed by the Board upon recommendation of the General Manager.
Appointment by General Manager.
SEC. 34. Appointment by General Manager.—Officials and employees below the rank of division chiefs shall be appointed to positions in the approved budget by the General Manager upon written recommendation of the head of the division concerned using as guide the standards set forth in the Authority's merit system: Provided, That the General Manager shall submit a quarterly report to the Board regarding personnel selection, placement and training.
Minimum Wage.
SEC. 35. Minimum Wage.—All contracts entered into by the Authority which require the employment of persons shall contain provision that not less than I he minimum wage fixed by law shall be paid to such persons so employed.
Plans to be formulated within one year.
Sec. 36. Plans to be formulated within one year.—Upon its organization, the Board of Directors shall formulate and report to the stockholders with the utmost expeditious manner, but in no case longer than one year, its plans and recommendations for the accelerated and balanced development of the region in accordance with the aims and purposes of this Act.
Supplies and service other than personnel.
SEC. 37. Supplies and service other than personnel.—All purchases of supplies or contracts for services, except for personnel services, entered into by the Authority shall be done only after the proper bidding is held. Bidding shall not be required when: (1) the amount involved is five thousand pesos (P5,000.00) or less; (2) an emergency, as certified to by the General Manager, requires immediate delivery of the supplies or performance of the services: Provided, That in comparing bids and making awards, the Authority shall consider such factors as the cost and relative quality and adaptability of supplies or service; the bidders' financial responsibility, skill, experience, integrity, and ability to furnish repairs and maintenance services; the time of delivery or performance offered: and the compliance with the specifications desired
Auditing.
SEC. 38. Auditing.—The Board of Directors shall provide and appoint an auditor who shall formulate an auditing system for the Authority. The auditor shall make a semestral and/or annual report covering the financial conditions and operation of the Authority to the Board. These auditing reports shall contain a statement of the resources and liabilities, including earnings and expenses, the amount of paid-up capital stock, surplus, reserved, 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 conditions and operation of the Authority. The auditor shall report and be directly responsible to the Board.
External Auditor.
SEC. 39. External Auditor.—The Board of Directors shall retain and engage the services of a reputable auditing firm, which shall act as the external auditor of the organization. As such, it shall render reports concerning the financial conditions of the Authority which shall include 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 of the Authority.
Separability Clause.
SEC. 40. Separability Clause.—The 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.
Definition of Terms.
SEC. 41. Definition of Terms.— 1) Act.—Whenever used in this Act, shall refer to the enabling Act creating the Laguna Lake Development Authority; 2) Authority.—Whenever cited in this Act shall mean the Laguna Lake Development Authority; 3) Board.—The word Board shall always refer to the Board of Directors of the Laguna Lake Development Authority; 4) Region.—The word Region in this connection mean the Laguna Lake area proper comprising the provinces of Rizal and Laguna and the cities of San Pablo, Manila, Pasay, Quezon and Caloccan; 5) Government instrumentalities or agencies or entities.—Whenever used in this Act shall mean instruments of the national or local governments vested with powers to accomplish a definite government aim or purpose; 6) Municipal Corporation.—Whenever used in this Act shall mean one that is organized for political purposes with political powers exercised for the good of the public, subject to legislative control and with officers of the government as its members to administer or discharge public duties; 7) Government Corporation.—Whenever used shall refer to corporations engaged in performing functions impressed with public interest; 8) Investor.—With regards to this Act, investors shall include public and private investors whether foreign or local; 9) External Auditor.—Shall mean a firm or a person hired outside the Authority or agency to audit the books of accounts of another corporation or agency; examine financial records, prepare audit reports on findings in the operation of the agency; review the statement on the performance report of the Authority. 10) Subsidiary Corporation.—A corporation that is organized or a corporation already in existence wherein at least fifty-one per cent of its shares of stock are owned or controlled by the organizing or subscribing Authority, in this case, the Laguna Lake Development Authority, to carry out or accomplish its purposes.
Laws repealed.
SEC. 42. Laws repealed.—All Acts, charters, executive orders, administrative orders, proclamations, rules and regulations, or parts thereof in conflict with this Act are hereby repealed or modified accordingly.
Effectively.
SEC. 43. Effectively.—This Act shall take effect upon its approval. Approved, July 18, 1966.
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).