Powers and Duties of the Board.
Section 18
SEC. 18. Powers and Duties of the Board. — The Board shall have the following powers and duties: To promulgate policies and to prescribe such rules and regulations as may be necessary to implement the intent and provisions of this Decree, which rules and regulations shall take effect thirty (30) days following their publication in two (2) newspapers of general circulation in the Philippines; To approve the annual budget and such implemental budgets which may be submitted to it by the Chairman; Upon the recommendation of the General Manager, to organize, reorganize, and determine the Authority's staffing pattern; to fix their salaries and to define their powers and duties; Notwithstanding the provisions of law, rules and regulations to the contrary, to enter by itself into any contract or agreement as may be necessary for the proper, efficient and stable administration of the Authority and for the attainment of the purposes and objectives of this Decree; To render annual reports to the President and such special reports as may be requested; and Generally, to exercise all the powers necessary or incidental to attain the purposes of this Decree.