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PD 453 Section 2

Powers.

Section 2

SEC. 2. Powers.—The Center shall have the following powers: To adopt, alter and use a corporate seal; To collect, receive and maintain a fund or funds, from government appropriations, and from donations, grants, gifts, bequests, loans from domestic or foreign lenders or other sources of income, and to apply the income and principal thereof to the promotion of its aims and purposes; To acquire, purchase, pledge, own, hold, operate, develop, lease, mortgage, pledge, exchange, sell, transfer or otherwise, in any manner permitted by law, real and personal property of every kind and description or any interests therein as may be necessary to carry out its purposes; To raise or borrow money from domestic or foreign sources for the purposes of the Center and to do any and all acts required and/or necessary under the law to effect the same; In furtherance of its purposes, to extend financial assistance and to enter into, make, perform and carry out, or cancel and rescind contracts of every kind and for any lawful purpose with any person, firm association, corporation, syndicate, domestic or foreign, or others in which it has a lawful interest; To invest funds, as it may be able to obtain from donations, grants, loans or appropriations, the returns of which the corporation uses to subsist and carry on the activities and purposes for which it was formed; In general, to carry on any activity and to have and exercise all of the powers conferred by law on a private or government-owned or controlled corporation; and to do any and all of the acts and things herein set forth to the same extent as juridical persons could do, and in any part of the world, as principal, factor, agent, or otherwise, either alone or in syndicate or otherwise in conjunction with any person, entity, syndicate partnership, association or corporation, domestic or foreign.

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Other provisions in PD 453

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationPD 453 Section 2 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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