Powers, functions and duties of the Commission.
Section 6
SEC. 6. Powers, functions and duties of the Commission.—The Commission shall administer the acquisition, utilization and distribution of reparations goods and/or services subject to the provisions of the Reparations Agreement and this Act. In line with the overall economic program and the policy set in this Act, the Commission shall prepare and submit for the approval of the President of the Philippines, upon recommendation of the National Economic Council, (a) a five-year reparations program to be revised yearly as conditions warrant, consisting of a broad list of eligible projects, undertakings or activities, of which the first year shall be made as firm as possible and in sufficient detail to form the preliminary basis for the schedule of goods and service called for in Article four of the Reparations Agreement (b) the amount, extent, and conditions including terms of payment under which reparations shall be produced, distributed and utilized; (c) the rules and regulation to be followed in administering the procurement distribution, and utilization of reparations, including the procedure and forms of application thereof. Such reparations program, conditions of procurement, distribution utilization and rules and regulations governing the administration, distribution and utilization of reparation shall be duly published once a week for three consecutive weeks, in two newspapers, one in Tagalog and another in English, of general circulation in the Philippines: Provided, however, That the Commission may submit proposed amendments to the rules and regulations the reparations program and the yearly schedule, as circumstances in the future may require, for approval of the President of the Philippines, upon recommendation by the National Economic Council. In addition, the Commission shall have the following specific powers, functions, and duties: To prepare sufficiently in advance of need, on the basis of the previously approved reparations program and approved applications for reparations goods and services, a tentative schedule of goods and services to be procured from Japan every year which, when approved by the President of the Philippines upon recommendation of the National Economic Council, shall form the basis of consultation between the Philippine and Japanese Governments towards the formulation of the schedule called for in Article four of the Reparations Agreement. To verify, alter and approve all proposed contracts and bids between the Mission in Japan and Japanese firms before the Mission accepts any bid, concludes any contract or sends it to the representative of the Japanese Government, so as to ascertain their compliance with terms of the Reparations Agreement with Japan, and with all the provisions of this Act, and to give opportunity to the Philippine entity or persons for whom the goods or services are being procured as reparations examine all bids, make selections thereon, with the cooperation of the Commission's technical staff, and verify the final contract specifications and terms thereof. To accept all goods and services and cash which may be procured by the Philippine government as reparations. To provide for the care, custody, protection and proper delivery to end-users of all such reparations goods provided in this Act. In the Performance of this function, the Commission and the Mission together shall endeavor to have the end-user inspect the goods, accept and provide for their expeditious shipment from Japan to the point of installation in the Philippines in order to minimize, if not altogether eliminate, storage cost extra handling costs, deterioration and damage in transit. To collect and accept all moneys due by way of payment for reparations goods and services delivered to end-users and to deposit the same with the Central Bank, which is hereby authorized upon consultation with the Commission, to determine whatever portion thereof may be placed as time deposit with such commercial banks as the Central Bank may designate. To enter into contract and to sue and be sued in Philippine courts. To publish every month in two newspapers, one in Tagalog and another in English, of general circulation in the Philippines a list of the goods disposed of by it and services required, including those which remain un-disposed of, indicating the nature of the goods, the names and addresses of the persons in whose favor the disposition was effected, and the amount of the consideration. To hear and decide all questions and controversies regarding the rules and regulations which it shall issue to carry out the purposes of this Act, its decisions in all such cases being appealable directly to the President. To perform such other functions as may be found necessary or as may be imposed upon it by law or executive order.