Powers of the Board.
Section 9
SEC. 9. Powers of the Board.—The Board shall have the following powers: To formulate policies to carry out effectively the provisions of this Decree, subject to the approval of the President of the Philippines; To prepare and issue rules and regulations as it considers necessary for the effective discharge of the responsibilities and exercise of the powers assigned to the Corporation under this Decree; To direct the management, operations, and administration of the Corporation; To authorize such expenditures by the Corporation as are in the interest of the effective administration and operations of the Corporation; and To exercise such other powers as may be necessary to accomplish the purposes for which the Corporation was organized.