Powers and Functions.
Section 3
SEC. 3. Powers and Functions. — To carry out the purposes and objectives mentioned in the preceding Section, the Authority, through its Board as hereinafter constituted, is hereby vested with the following powers, in addition to those transferred to it under Section 6 of this Decree: a. To formulate and adopt a general program of development for the coconut and other palm oils industry; b. To evaluate the existing policies, programs and projects of all agencies and instrumentalities having to do with industry development and to integrate and coordinate the various facets of such activities into the approved general development program; c. To recommend to the President of the Philippines and, upon his approval, to effect the integration of agencies charged with the prosecution of certain aspects of industry development with the view of attaining efficiency and effectiveness in implementation of the general program; d. To supervise, coordinate and evaluate the activities of all agencies charged with the implementation of the various aspects of industry development, and to allocate and/or coordinate the release of public funds in accordance with approved development programs and projects; e. To regulate the marketing and export of coconut products and by-products, as well as those of other palm oils, including the establishment of quotas thereon, whenever the national interest so requires; f. To receive and administer funds provided by law; to draw, with the approval of the President, funds from existing appropriations as may be necessary in support of its program, and to accept donations, grants, gifts and assistance of all kinds from international and local private foundations, associations or entities, and to administer the same in accordance with the instructions or directions of the donor or, in default thereof, in the manner it may in its discretion determine; g. To borrow the necessary funds from local and international financing institutions, and to issue bonds and other instruments of indebtedness, subject to existing rules and regulations of the Central Bank, for the purpose of financing programs and projects deemed vital and necessary for the early attainment of its goals and objectives; h. To formulate and recommend for adoption credit policies affecting production, marketing and processing of coconut and other palm oils; i. To formulate and recommend for adoption by other agencies and instrumentalities, such programs and projects as are necessary to accelerate industry development; j. To enter into, make and execute contracts of any kind as may be necessary or incidental to the attainment of its purposes and, generally, to exercise all the powers necessary to achieve the purposes and objectives for which it is organized.