Powers and duties of the Board of Directors.
Section 5
SEC. 5. Powers and duties of the Board of Directors.— The Board of Directors shall have the following powers: To prescribe, amend, modify or repeal by-laws, rules and regulations, not inconsistent with the provisions of this Act, governing the manner in which the general business of the PTA may be exercised, subject to the approval of the Administrator of Economic Coordination; To appoint and fix the compensation of the Assistant General Manager, subject to the approval of the Administrator of Economic Coordination and consent of the President of the Philippines, and to appoint and fix the compensation of the other officers of the PTA with the approval of the Administrator of Economic Coordination; To approve the annual budget of the PTA and/or such supplemental budgets thereof as may be submitted to the Board by the General Manager from time to time; and To perform such other duties as may be assigned to it by the President of the Philippines and/or by the Administrator of Economic Coordination.