Section 2
SECTION 2. Section Eleven of Presidential Decree No. Sixteen hundred Forty Eight is hereby amended to read as follows: “SEC. 11. Compensation Law. For the purpose of determining the compensation of its officers and employees, and for the purposes of Presidential Decree No. 985 and Civil Service requirements, the Company shall be considered as a government financial institution, such as the Central Bank and the Development Bank of the Philippines; Provided, That the appointment and compensation of personnel and consultants whose positions are policy determining, primarily confidential, or considered by the Board as highly technical in nature as recommended by the Chairman of the Company, shall be decided by the Board, any provisions of existing law to the contrary notwithstanding.”