Section 4
SEC. 4. The Board of Directors, with the approval of the President of the Philippines, shall appoint a manager and fix his salary. The manager shall appoint the personnel in accordance with the plan previously approved by the Board of Directors of the Corporation. The Corporation shall have an auditor who shall be appointed by the Auditor General and shall be paid by the Corporation a salary to be fixed by it. The expenses of the office of the auditor of the Corporation and the salaries of the employees thereof shall be paid by the Corporation which shall make the necessary appropriations for said purpose. The auditor of the Corporation shall after each drawing submit to the Board of Directors of the Corporation, the Secretary of Finance, and the Auditor General a report on the financial condition and operations of the Corporation. The Corporate Counsel Division of the Department of Justice shall attend to the legal work of the Corporation in consideration of an annual contribution which shall from time to time be stipulated by both entities or, in case of disagreement, fixed by the President of the" Philippines.