Section 1
SECTION 1. Section 5(b) of the Charter of the National Power Corporation, Presidential Decree Numbered Three Hundred Eighty, is hereby further amended to read as follows: "(b) The balance of said subscription shall be paid by the conversion into equity capital of the existing bonded indebtedness, cost of reparations goods that may be allocated in the future, and surpluses of the corporation, and in the absence thereof, from [bond issue upon request of the corporation for specific projects duly approved from time to time by the President of the Philippines."] AN ANNUAL APPROPRIATION OF NOT LESS THAN TWO HUNDRED MILLION PESOS WHICH IS HEREBY MADE OUT OF ANY FUNDS IN THE NATIONAL TREASURY NOT OTHERWISE APPROPRIATED, BE THEY COLLECTIONS FROM ANY OR ALL TAXES ACCRUING TO THE GENERAL FUND OR PROCEEDS FROM LOANS, THE ISSUANCE OF BONDS, TREASURY BILLS OR NOTES WHICH ARE HEREBY AUTHORIZED TO BE INCURRED OR TO BE ISSUED BY THE SECRETARY OF FINANCE FOR THE PURPOSE, SUCH ANNUAL APPROPRIATION TO BE PROGRAMMED AND RELEASED BY THE BUDGET COMMISSION IN ACCORDANCE WITH THE SCHEDULE OF CASH REQUIREMENTS TO BE SUBMITTED BY THE CORPORATION; PROVIDED, THAT THIS ANNUAL APPROPRIATION OF NOT LESS THAN TWO HUNDRED MILLION PESOS AND THE PROGRAMMING AND RELEASE THEREOF SHALL REMAIN IN FORCE UNTIL THE BALANCE OF THE UNPAID SUBSCRIPTION OF THE GOVERNMENT TO THE CAPITAL STOCK OF THE CORPORATION SHALL HAVE BEEN PAID IN FULL."