Section 2
SEC. 2. The first paragraph of Section 651 of the same Code, as amended by Republic Act No. 2266, is hereby further amended to read as follows: "SEC. 651. Power of Auditor to Compromise Claim. — The Provision of any law to contrary notwithstanding, when, in the judgment of the Auditor General, the interest of the Government so requires, he may compromise or release, in whole or in part, any claim or settled liability to the Government not exceeding Pl,000;00 and, with the written approval of the President of the Philippines, he may likewise compromise or release any similar claim or liability not exceeding P10,000.00. The respective boards of directors of all government-owned or controlled corporations, including other self-governing boards, commissions and agencies, shall have the exclusive power to compromise or release any similar claim or liability in accordance with and as authorized by their respective charters, if in their judgment the interest of their respective corporations so requires."