Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Constitution Hills, Quezon City 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO.  ________ 
Introduced by MARINO Party-list Representative 
SANDRO L. GONZALEZ 
AN ACT  
STRENGTHENING THE NATIONAL HOUSING AUTHORITY, 
EXTENDING ITS CORPORATE TERM, AND AMENDING FOR THIS 
PURPOSE PRESIDENTIAL DECREE NO. 757 (P.D. 757), "CREATING THE 
NATIONAL HOUSING AUTHORITY AND DISSOLVING THE EXISTING 
HOUSING AGENCIES, DEFINING ITS POWERS AND FUNCTIONS, 
PROVIDING FUNDS THEREFOR, AND FOR OTHER PURPOSES. 
EXPLANATORY NOTE 
Under Section 9, Article XIII of the 1987 Constitution, “The State shall, by law, and 
for the common good, undertake, in cooperation with the private sector, a continuing program 
of urban land reform and housing which will make available at affordable cost, decent housing 
and basic services to underprivileged and homeless citizens in urban centers and resettlement 
areas. It shall also promote adequate employment opportunities to such citizens. In the 
implementation of such program the State shall respect the rights of small property owners.” 
By virtue of Presidential Decree No. 757 dated 31 July 1975, the National Housing 
Authority was created to develop and implement a comprehensive and integrated housing 
program, with a corporate term of fifty (50) years but may be extended. 
On 17 December 1986, Executive Order No. 90 was issued placing the National 
Housing Authority as the sole government agency engaged in direct shelter production, with 
focus in providing housing, assistance to the lowest 30% of urban income-earners through slum 
upgrading, squatter relocation, development of sites and services and construction of core-
housing units. 
On 23 July 2018, Republic Act No. 11201, otherwise known as the Department of 
Human Settlements and Urban Development Act, was enacted creating the Department of 
Human Settlements and Urban Development (DHSUD) which functions as the sole and main 
planning and policy-making, regulatory, program coordination, and performance monitoring 
entity for all housing, human settlement and urban development concerns. Said law repealed 
EO 96, series of 1986, and attached the NHA to the DHSUD for purposes of policy and 
July 1, 2022
3:51 pm
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program coordination, monitoring and evaluation. NHA retained its function as a production 
and financing arm in housing but its corporate term was not extended. 
According to the Philippine Statistics Authority, the First Semester 2021 poverty 
incidence among population, or the proportion of poor Filipinos whose per capita income is 
not sufficient to meet their basic food and non-food needs, was estimated at 23.7 percent. This 
translates to 26.14 million Filipinos who lived below the poverty threshold out of 109,035,343 
total population of the Philippines. The agency also estimated that around 4.5 million Filipinos 
are homeless.1 
To address this long subsisting problem and to alleviate the quality of life of homeless 
Filipino families in general, this bill seeks to renew the corporate term and strengthen the role 
of the National Housing Authority in developing and implementing an integrated and 
comprehensive housing program. 
The strengthening of the NHA is long overdue. Its corporate powers, board 
composition, as well as existing organizational structure and personnel complement were 
formulated way back in 1975 and has not been amended and improved operationally since then 
despite the increasing work performed in discharging its mandate. To ensure that the NHA 
shall be able to adopt to the changing conditions, the expansion of its corporate powers and its 
corporate term, restructuring of its board as well as increase in the number of its organic 
personnel with the corresponding adjustment in their compensation and benefits are inevitable. 
In view of the foregoing, the early passage of this proposed measure is earnestly sought. 
SANDRO L. GONZALEZ 
Representative 
MARINO Party-list 
1 Proportion of Poor Filipinos Registered at 23.7 Percent in the First Semester of 2021. Philippine Statistics 
Authority. (2021, December 17). Retrieved July 1, 2022, from https://psa.gov.ph/content/proportion-poor-
filipinos-registered-237-percent-first-semester-2021  


Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Constitution Hills, Quezon City 
NINETEENTH CONGRESS 
First Regular Session 
HOUSE BILL NO.  ________ 
Introduced by MARINO Party-list Representative 
SANDRO L. GONZALEZ 
AN ACT  
STRENGTHENING THE NATIONAL HOUSING AUTHORITY, 
EXTENDING ITS CORPORATE TERM, AND AMENDING FOR THIS 
PURPOSE PRESIDENTIAL DECREE NO. 757 (P.D. 757), "CREATING THE 
NATIONAL HOUSING AUTHORITY AND DISSOLVING THE EXISTING 
HOUSINGAGENCIES, DEFINING ITS POWERS AND FUNCTIONS, 
PROVIDING FUNDS THEREFOR, AND FOR OTHER PURPOSES. 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled: 
Section 1. Short Title. – This Act shall be known as the "National Housing Authority 
Act of 2021." 
Section 2. Declaration of Policies. – It is the policy of the State to ensure a continuing 
program of urban land reform and housing, which will make available at affordable cost, decent 
housing and basic services to underprivileged and homeless citizens, in order to guarantee 
freedom from poverty, rising standard of living, and improved quality of life for all. 
The State, in partnership with the private sector, and its stakeholders shall also: 
(a) Expand people's access to affordable, adequate, safe, and secure shelter in well-
planned communities;
(b) Enable informal settler families to live in resilient, vibrant, and connected urban
communities;
(c) Promote inclusive and integrated housing that are culturally sensitive, responsive to
local context and/or special needs, and in accordance with appropriate standards and
designs;
954


(d) Encourage and sustain investments in the housing and urban development sector by, 
among others, promoting partnerships, improving market linkages, simplifying 
government procedures and facilitating access to finance; 
(e) Improve affordability of housing programs and projects; 
(f) Promote climate change resilient housing and basic infrastructure; and, 
(g) Make land available and accessible for housing. 
 Section 3. Statement of Objective. – Towards this end, the State shall integrate all laws 
relating to the National Housing Authority to effectively achieve the following objectives: 
(a) Develop integrated, sustainable, safe, affordable and resilient communities, 
particularly for the underprivileged and homeless as well as low-income households; 
(b) Implement innovative and alternative solutions in addressing the housing needs of 
informal settler families, the lower-income classes and the vulnerable sector; 
(c) As a government-owned and -controlled corporation, to generate income through the 
efficient utilization of existing and future assets to support the programs of the 
Authority; 
(d) Adopt viable land acquisition and management approaches; and, 
(e) Strengthen housing as a platform to reduce poverty, promote climate resilience and 
improve social outcomes. 
Section 4. Extension of Corporate Term; Effect. – The corporate term of the 
government corporation known as the National Housing Authority, hereinafter, the 
"Authority", created by virtue of Presidential Decree No. 757 (P.D. 757), is hereby extended 
for a period of Fifty (50) years, upon the approval of this Act. 
As such, the Authority shall continue to perform its mandates, exercise its powers and 
functions, and enjoy its incentives, as contained in P.D. 757, and subsequent laws and 
issuances, unless expressly repealed herein. Likewise, it shall continue to enjoy all rights and 
assume all of the liabilities that pertain thereto. 
The Authority shall continue to be under the administration supervision of the 
Department of Human Settlement and Urban Development. 
Section 5. Office. – The Authority shall retain its principal office at the NHA Main 
Office, Elliptical Road, Diliman, Quezon City 1101, but may have such regional and district 
offices, agencies, or subsidiaries in other areas all over the country, as it may deem proper and 
necessary. 
 


Section 6. Power and Function of the Authority. – The Authority, in line with its role 
as the sole government agency engaged in direct shelter production, and in pursuit of the 
foregoing policies and objectives, shall also exercise the following powers and functions: 
I. 
Housing Operations and Support Services 
(a) Develop and implement comprehensive and integrated housing and urban and 
rural development programs for citizens including, but not limited to: 
i. 
programs for the improvement of blighted urban areas; 
ii. 
direct shelter production and disposition primarily for informal 
settler families and the underprivileged and homeless; 
iii. 
relocation of families subject of court-ordered eviction; and, 
iv. 
housing programs for government employees and armed 
personnel, such as: members of the Armed Forces of the 
Philippines (AFP), Philippine National Police (PNP), Bureau of 
Jail Management and Penology (BJMP), Bureau of Fire 
Protection (BFP), and Bureau of Corrections (BuCor). 
(b) Prescribe guidelines and standards for the preservation, conservation and 
utilization of public lands identified for housing and resettlement; 
(c) Design and implement sustainable livelihood programs, fully funded by the 
national government, which are responsive to the needs of its housing 
community, in coordination with the concerned local and national 
government agencies and, whenever practicable, with participation of civil 
society organizations and the private sector; 
(d) Develop and undertake other urban and rural development projects including 
basic community facilities, by itself or through joint ventures or other 
arrangements with public and private entities; 
(e) Improve, redevelop, or revitalize completed but not yet turned-over NHA 
housing projects by constructing therein additional community structures, or 
whenever necessary, demolishing previously erected structures similar in 
nature, subject to existing laws and regulations; 
(f) Provide technical and other forms of assistance to local government units in 
the implementation of their own housing programs, or private developers 
undertaking low-cost housing projects, subject to the policies of the 
Authority; 


(g) Undertake financing of housing programs initiated by local government units 
or local communities; and, 
(h) Extend shelter services to victims of calamities, natural or man-made, as 
declared by the President; for this purpose, the Authority shall be given 
priority and utmost assistance by pertinent government agencies in order to 
expedite the process. 
 
II. 
Asset Management and Business Development 
(a) Exercise the right of eminent domain, purchase, sell, lease and/or exchange 
lands for purposes of housing development, resettlement and other related 
services and facilities; 
(b) Issue bonds or contract loans, credits, or indebtedness, including suppliers 
credit or any deferred payment arrangements with any person or entity, 
domestic or foreign, for the implementation of its housing programs; 
(c) Invest its funds, as it may deem proper, in bonds and securities issued and 
guaranteed by the government or by the Bangko Sentral ng Filipinas, and  to  
invest,  own  or  otherwise  participate  in  equity  in  any establishment, firm 
or entity; 
(d) Subject to the GOCC Governance Act of 2011, form, organize, invest in or 
establish and maintain a subsidiary or subsidiaries in relation to any of its 
purposes; 
(e) Ensure the collection and recovery of all indebtedness, liabilities and/or 
accountabilities, due from all obligors, whether public or private; to demand 
payment of the obligations referred to herein, and in the event of failure or 
refusal of the obligor or debtor to comply with the demand, to initiate and 
institute the necessary or proper actions or suits, criminal, civil  administrative  
or  otherwise,  before  the  courts,  tribunals, commissions,  boards  or  bodies  
of proper jurisdiction:  Provided, however, that the Authority may 
compromise or release , in whole or in part, any interest, penalty or civil 
liability to the Authority in connection with the collection or amortizations, 
under such terms and conditions as prescribed by the Board of Directors: 
Provided, further, That the Board may, upon recommendation of the General 
Manager, deputize any member of the Authority's legal staff to act as special 
sheriff in foreclosure cases, in the sale or attachment of the debtor's properties, 


and in the enforcement of court writs and processes in case involving the 
Authority. The special sheriff of the Authority shall make a report to the 
proper court after any action taken by him, which shall treat such action as if 
it were an act of its own sheriffs in all respects; and, 
(f) Generate sources and formulate schemes for financing, with due delineation 
of government and private sector participation. 
 
III. 
Management Services  
(a) Formulate and enforce general and specific policies for housing and 
resettlement; 
(b) Monitor and/or discharge all responsibilities of the government as may arise 
from treaties, agreements, and other commitments on housing and 
resettlement to which it is a signatory, including the determination of forms 
of assistance for housing development to be extended through multilateral or 
bilateral assistance programs; 
(c) Serve  as  central  repository  of  database  and  census  list  of 
households/families  along  waterways,  danger  areas,  government 
infrastructure project site and government-owned lands in Metro Manila and 
all regions nationwide, which shall be used for subsequent government 
interventions with housing and resettlement component; and 
(d) Approve restructuring proposal for the payment of unpaid amortizations 
under such terms and conditions as the Board of Directors may prescribe. 
 
IV. 
General Powers 
(a) Have the power of succession; to sue and be sued; to adopt and use a seal 
which shall be judicially noticed; 
(b) Enter into contracts whenever necessary under such terms and conditions as 
it may deem proper and reasonable; 
(c) Acquire property rights and interests, and encumber or otherwise dispose the 
same as it may deem appropriate; 
(d) Borrow funds from any source, private or government, foreign or domestic; 
(e) Receive donations, grants, bequests and fund transfers from other branches of 
the government, and utilize the same for the attainment of its objectives. Such 
donations, grants and bequests shall be exempt from the payment of transfer 


taxes and be fully deductible from the gross income of the donor or grantor 
for income tax purposes; 
(f) Create, if not yet established, and maintain a provident fund, which shall 
consist of contributions made by both the Authority and its officers and 
employees and their earning, for the payment of benefits to such officials and 
employees or their heirs under such terms and conditions as it may prescribe; 
and, 
(g) Perform such other acts not inconsistent with this Act, as may be necessary to 
effect the policies and objectives herein declared. 
Section 7. The Board of Director; Its Composition. – The Board of Directors, hereinafter 
referred to as the Board, is hereby reconstituted to have thirteen (13) seats, consisting of the 
following: 
(a) Eleven (11) ex officio members, namely:  
1. Secretary of Department of Human Settlements and Urban Development; 
2. Secretary of the Department of Public Works and Highways; 
3. Secretary of the Department of Finance; 
4. Secretary of the Department of Trade and Industry; 
5. Secretary of the Department of Labor and Employment; 
6. Secretary of the Department of Environment and Natural Resources; 
7. Secretary of the Department of Interior and Local Government; 
8. Secretary of the Department of Budget and Management; 
9. Director-General of the National Economic and Development Authority; 
10. Executive Secretary; and, 
11. General Manager of the Authority. 
 
(b) Two (2) expert panel members with expertise in housing, urban planning and 
development. 
 
The expert panel members must be: (1) Filipino citizens and of good moral character; 
(ii) be of recognized probity and independence and must have distinguished 
themselves professionally in public, civic or academic service; (iii) be in the active 
practice of their professions for at least seven (7) years; and (iv) not be appointed 
within one (1) year after losing in the immediately preceding elections, whether 
regular or special. 


The Secretary of the Department of Human Settlements and Urban Development shall 
be the ex officio Chairperson of the Board. 
All appointive directors must have qualified under the Fit and Proper Rule, as defined by 
Republic Act 10149 or the GOCC Governance Act of 2011. An appointive director shall be for 
one (1) year, unless sooner removed for cause, however, the appointive director shall continue 
to hold office until the successor is appointed. 
The Board shall meet regularly at least once a month but special meetings may be called 
either by the Chairperson or by at least seven (7) members of the Board as and when necessary. 
Seven (7) members of the Board shall constitute a quorum and all decisions of the Board shall 
require the concurrence of at least seven (7) members. 
Section 8. Powers and Duties of the Board. – The Board shall have the powers and 
functions specified in this Act and the usual corporate powers: 
(a) Formulate, prescribe, and promulgate the implementing rules and regulations 
required by this Act; 
(b) Promulgate such rules and regulations as may be necessary or proper for the effective 
exercise of the powers and functions, as well as the discharge of the duties and 
responsibilities of the Board, its officers and employees; 
(c) Act upon the annual budget and such supplemental budgets of the Authority 
submitted by the General Manager: Provided, that the Board may reduce but may not 
increase any item proposed by the General Manager; 
(d) Subject to the Governance Commission for GOCCs (GCG) review and approval,  
recommend  the  Authority's  organizational  and  administrative structures and 
staffing pattern; and to establish, fix, review, revise and adjust the appropriate 
compensation package of its officers and employees as submitted by the General 
Manager; 
(e) Design, formulate, negotiate, and implement financial or investment schemes; 
(f) Enter into such contract or agreement as may be necessary for the attainment of the 
purposes and objectives of this Act; 
(g) Enter into and execute memoranda of agreements, joint ventures, long-term leases 
and management contracts with private sector entities, to include real estate 
developers or construction companies with dependable reputation and proven track 
record in developing and managing real estate ventures; 


(h) Condone or compromise, in whole or in part, penalties, interests or civil liabilities 
imposed on beneficiaries with delinquent accounts who, for justifiable reasons 
prescribed by the Board, failed to pay on time any obligation due to the Authority; 
(i) Render annual reports to the President of the Philippines and such special reports as 
may be requested; and, 
(j) Exercise all the powers necessary or incidental to the attainment of the purposes of 
this Act. 
Section 9. Duties of the General Manager. – The General Manager shall have the 
following powers and duties: 
(a) Execute and administer the policies and resolutions approved by the Board of 
Directors and prepare its agenda; 
(b) Direct and supervise the operations, management and internal affairs of the Authority. 
The General Manager may delegate certain of his administrative responsibilities to 
other officers of the Authority, subject to the rules and regulations promulgated by the 
Board; 
(c) Endorse for the Board's approval the number and salaries of as well as appoint, the 
subordinate officers and personnel of the Authority and to remove, or otherwise 
discipline, for cause, any such officer or employee pursuant to the provisions of the 
Civil Service Commission on discipline; 
(d) Represent the Authority in all dealings with other officers, agencies, and 
instrumentalities of the Government and with all persons and entities, public or 
private, domestic or foreign; 
(e) Act, in the conduct of the business of the Authority, on all matters that are not by this 
Act specifically reserved to the Board; 
(f) Solely confer lot awards to the eligible beneficiaries; 
(g) Decide, to the exclusion of courts and any other government agencies, cases filed 
questioning the propriety of lot awards granted to the Authority's beneficiaries; for 
this purpose, the General Manager may create a body for the investigation and 
adjudication of such cases; 
(h) Report and submit to the Board as soon as possible after the close of each fiscal year, 
if applicable, a complete report of the operations of the Authority for the preceding 
year, and the state of its affairs; and, 
(i) Exercise such other powers and duties as may be vested in him by the Board. 


Section 10. Assistant General Managers. – The General Manager shall be assisted by 
three (3) Assistant General Managers, who shall be appointed by the President of the 
Philippines, upon the recommendation of the General Manager: Provided, that at least one (1) 
Assistant General Manager shall be a career officer. The General Manager is further authorized 
to delineate and assign other functional areas or responsibilities of the Assistant General 
Managers. 
Section 11. Qualifications and Appointment. – No person shall be appointed General 
Manager and Assistant General Manager of the Authority unless he or she is a citizen and 
resident of the Philippines, of good moral character, of proven integrity, competence and 
expertise in housing, urban planning and development. 
Section 12. Organizational Structure and Staffing Pattern. – Subject to the evaluation 
and approval of the GCG, the Board shall recommend the Authority's organizational structure, 
and create new divisions or units, as it may deem necessary in accordance with civil service 
laws, rules and regulations. 
Subject to the GCG's evaluation and approval, the General Manager shall likewise 
determine and endorse to the Board the rates of allowances, honoraria and such other additional 
compensation which the Authority is hereby authorized to grant to its officers, technical staff 
and consultants, including the necessary detailed personnel. 
Section 13. Exemption from Taxes and Regulatory Fees. – All laws to the contrary 
notwithstanding, the Authority, its assets and properties, and all accruals thereto and income or 
investment earnings therefrom, as well as supplies, equipment, papers or documents shall be 
exempt from any tax, assessment, fee, charge, or customs or import duty, of any kind, whether 
imposed by local or national entities. 
The exemption includes, but is not limited to the following:  income tax, real property 
tax, capital gains tax, transfer tax, value added tax, donor's tax and similar taxes; and building 
permit fee, fire inspection permit fee, ECC fees and other regulatory fees. Similarly, the 
Authority shall be exempt from the payment of documentary stamp tax and registration fees, 
including fees required for the issuance of transfer certificates of titles. 
Furthermore, to promote the policy of improving housing affordability, projects of the 
National Housing Authority, in cooperation with local government units, the private sector and 
other entities, shall also enjoy the exemptions enumerated above. 
Section 14. Lands for Authority Projects; Management, Conversion and 
Classification. – Lands identified and designated for Housing and Urban and Rural 
Development, pursuant to Section 24 of Republic Act No. 11201, shall be assessed by the 


Authority for program or project feasibility. Should the site evaluation be in the affirmative, 
said lots shall forthwith be transferred to the Authority. 
This shall not, however, preclude the Authority from pursuing its continuing mandate of 
identifying, acquiring and managing lands for the immediate and future needs of its 
beneficiaries.  In pursuit thereof, the Authority must consider, among others, the degree of 
availability of basic services and utilities, access to modes of transport, proximity to economic 
opportunities and the preservation of the social capital of beneficiaries. 
Furthermore, all lands acquired by the Authority, for any of its programs and projects, 
shall be automatically converted and/or re-classified, in order to facilitate its immediate 
development. The Authority, in coordination with the Department of Human Settlements and 
Urban Development, the Department of the Interior and Local Government, the Department of 
Agriculture and the Department of Agrarian Reform shall craft the rules and regulations 
necessary to implement this provision. 
Section 15. Designation of the National Housing Authority (NHA) as Lead Agency in 
the Disposition Program. – The Authority, under the supervision of the DHSUD, shall take 
the lead in the disposition activities of the lands in the preceding section: Provided, that 
disposition activities shall include the preliminary stages of identification and evaluation of 
lands suitable for disposition under this Act. 
The Department of Human Settlements and Urban Development is hereby directed to 
submit immediately an updated list of government-owned lands suitable for socialized housing 
purposes. 
The Department of Human Settlements and Urban Development shall make 
recommendation to the President of the Philippines relative to the disposition of the lands 
subject hereof. 
Section 16. Completed Projects: Management or Disposition. – The Authority shall 
determine, establish and maintain the most feasible and effective program for the management 
or disposition of specific housing or resettlement projects. Unless otherwise decided by the 
Board, completed housing or resettlement projects shall be managed and administered by the 
Authority until it has been turned over to the local government unit concerned or other public 
or private entity concerned, as the case may be. 
Section 17. Issuances of Bonds. – Subject to the approval of the Secretary of Finance, 
after consultation with the Monetary Board of the Bangko Sentral ng Pilipinas, the Authority 
is hereby authorized to issue bonds and other securities to finance the implementation of its 
housing programs: Provided, That only so much of such bonds or securities shall be issued and 


sold as the annual project implementation would require: Provided, further, That no bonds or 
securities shall be issued unless eighty per cent (80%) of those already issued had been sold: 
Provided, finally, That the total amount of the bonds or securities issued shall in no case exceed 
ten times its paid up capital and surplus. 
The Authority, in consultation with the Secretary of Finance and the Monetary Board, 
shall prescribe the form, the rate of interest, and denominations, maturities, negotiability, call 
or redemption features and all other terms and conditions of the bonds and securities to be 
issued. 
In the promotion of the sale bonds or securities, the Authority is authorized to adopt the 
lottery scheme enunciated under Republic Act Numbered One Thousand as amended. 
The bonds and securities issued under this Act including the income thereof shall be 
exempt from all kinds of taxes and from attachment, execution and seizure which facts shall 
be stated on the face thereof. 
A sinking fund shall be established by the Authority in such manner that the total annual 
contribution thereto, accrued at such rate of interest as may be determined by the Secretary of 
Finance in consultation with the Monetary Board, shall be sufficient to redeem at maturity the 
bonds or securities issued pursuant to this Act. The sinking fund shall be under the custody and 
administration of the Bangko Sentral rag Pilipinas which may invest the same in Bangko 
Sentral Certificates of Indebtedness and similar financing schemes subject to the approval of 
the Authority in consultation with the Secretary of Finance: Provided, that the proceeds from 
such scheme shall accrue to the Authority. 
Section 18. Guarantee by the Government. – The Republic of the Philippines hereby 
guarantees the payment of both the principal and the interest of the bonds, debentures, 
collaterals, notes or such other obligations issued or incurred by the Authority by virtue of this 
Act, and shall pay such principal and interest in case the Authority fails to do so. In such event, 
the Republic of the Philippines shall succeed to all the rights of the holders of such bonds, 
debentures, collaterals, notes or other instruments to the extent of the payment made, unless 
the sum so paid by the Republic of the Philippines shall be refunded by the Authority within a 
reasonable time. 
Section 19. SSS and GSIS Participation. – Notwithstanding any provision of the 
respective charters to the contrary, the Social Security System (SSS) and the Government 
Service Insurance System (GSIS) shall absorb all or part of the bonds or securities issued by 
the Authority in such proportion as may be determined by the National Economic and 
Development Authority (VEDA) and approved by the President of the Philippines. 


Section 20. Reports. – The Authority shall submit an annual report to the Office of the 
President of the Philippines, copy furnished to the Department of Human Settlements and 
Urban Development, indicating, among others, the housing program being implemented, the 
stage of implementation, and the financial position of the Authority. It shall likewise submit 
such periodic or other reports as may be required from time to time. 
Section 21. Audit. – The Chairperson of the Commission on Audit (COA) shall act as 
the ex-officio auditor of the Authority, and accordingly, is empowered to appoint a 
representative and other subordinate personnel to perform and report on such audit duties, 
responsible to and removable only by the COA Chairperson, without prejudice, however, to 
the power of the Board of Directors to contract for another mode of independent audit service, 
in addition to that provided by COA as provided for under Presidential Decree No. 1445, 
otherwise known as the Government Auditing Code of the Philippines. 
Section 22. Implementing Rules and Regulations. – The implementing rules and 
regulations to effectively carry out the provisions of this Act shall be adopted by and 
promulgated by the Board of Directors of the Authority, not later than ninety (90) days after 
the approval of this Act. 
The Departments, charged with crafting the implementing rules and regulations to 
effectively carry out Section 14 hereof, are given thirty (30) days after the approval of the Act 
to enact the same. 
Section 23. Applicability of the Revised Corporation Code. – The provisions of the 
Revised Corporation Code, in so far as they are not inconsistent with the provisions and policies 
provided in this Act, shall be applicable to the Authority. 
Section 24. Separabilty Clause. – If for any reason any provision of this Act is declared 
to be unconstitutional or invalid, the remaining provisions not affected thereby shall continue 
to be in full force and effect. 
Section 25. Repealing Clause. – Section 2 of Presidential Decree No. 757 is hereby 
amended accordingly. All others laws, decrees, executive orders, or rules and regulations or 
parts thereof inconsistent with or contrary to the provisions of this Act or its purposes are 
hereby amended or modified accordingly. 
Section 26. Effectivity Clause. – This Act shall take effect fifteen (15) days after the 
completion of its publication in the Official Gazette or in at least two (2) national newspapers 
of general circulation. 
 
Approved,