FOURTEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
Third Regular Session 
) 
) 
) 
SENATE 
S.B. No. 3575 
10 
FEB -1 
All :33 
.~ 
)' 
Prepared by the Committee on Government Corporations and Public 
Enterprises with Senators Enrile, Gqrdon and Lapid as authors 
AN ACT 
FURTHER AMENDING PRESIDENTIAL DECREE NO. 1869, AS 
AMENDED BY REPUBLIC ACT NO. 9487, EXPRESSLY PROVIDING 
THE TERM 
OF 
OFFICE 
FOR THE CHAIRMAN 
& 
CHIEF 
EXECUTIVE 
OFFICER, 
PRESIDENT 
& 
CHIEF 
OPERATING 
OFFICER AND OTHER MEMBERS OF THE BOARD OF DIRECTORS 
OF THE PHILIPPINE AMUSEMENT AND GAMING CORPORATION 
(PAGCOR) 
Be it enacted by the Senate and the House of Representatives of the 
Philippines in Congress Assembled: 
SECTION 1. 
Section 6 of Pre~idential Decree No. 1869, as 
2 
amended by Republic Act No. 9487 is hereby amended to read as 
3 
follows: 
4 
"SEC. 
6. 
[Board 
of 
Directors] 
BOARD 
OF 
5 
DIRECTORS, 
CHAIRMAN 
OF 
THE 
BOARD, 
AND 
6 
PRESIDENT OF PAGCOR -
[The Corporation shall be 
7 
governed and its activities be directed, controlled and 
8 
managed by a Board of Directors, hereinafter referred to 
9 
as the Board, composed of five (5) members, three (3) of 
10 
whom shall come from the Government sector and shall 
11 
be appointed by the President, while the other two (2) 
12 
shall be from the private sector who own at least 1 share 
1 


1 
of stock in the Corporation and who shall be elected by 
2 
the stockholders in the annual 'general meeting or in a 
3 
special meeting called for such purpose.] PAGCOR SHALL 
4 
BE 
GOVERNED 
AND 
ITS 
ASSETS, 
BUSINESSES, 
5 
OPERATIONS, AND OTHER ACTIVITIES, EITHER AS A 
6 
CORPORATE 
OR 
REGULATORY 
BODY 
SHALL 
BE 
7 
DIRECTED, CONTROLLED, MANAGED, HANDLED, AND 
8 
DISPOSED 
OF 
BY 
A 
BOARD 
OF 
DIRECTORS, 
9 
HEREINAFTER 
REFERRED 
TO 
AS 
THE 
BOARD, 
10 
COMPOSED OF FIVE (5) MEMBERS, THREE (3) OF 
11 
WHOM SHALL BE FROM THE GOVERNMENT SECTOR, 
12 
WHO SHALL BE APPOINTED BY THE PRESIDENT OF 
13 
THE PHILIPPINES; AND TWO (2) OF WHOM SHALL BE 
14 
FROM THE PRIVATE SECTOR, WHO OWN AT LEAST 
15 
ONE (1) SHARE OF STOCK AND WHO SHALL BE 
16 
ELECTED BY THE STOCKHOLDERS IN THE ANNUAL 
17 
GENERAL MEETING OR IN 
A SPECIAL MEETING 
18 
CALLED FOR SUCH PURPOSE. 
19 
"Each Director shall serve for a term of [one (1) 
20 
year] THREE (3) YEARS and until his successor shall have 
21 
been duly appointed and qualified. 
22 
"THE CHAIRMAN OF THE BOARD OF PAGCOR, 
23 
HEREINAFTER REFERRED TO AS THE CHAIRMAN, 
24 
SHALL BE ITS CHIEF EXECUTIVE OFFICER. HE SHALL 
25 
BE 
APPOINTED 
BY 
THE 
PRESIDENT 
OF 
THE 
26 
PHILIPPINES FOR A FIXED TERM OF SIX (6) YEARS 
2 


1 
UNLESS SOONER REMOVED FOR CAUSE. HE MAY BE 
2 
REAPPOINTED FOR ANOTHER TERM OF SIX (6) YEARS, 
3 
PROVIDED 
THAT 
NO 
INDIVIDUAL 
SHALL 
BE 
4 
REAPPOINTED AS CHAIRMAN OF THE BOARD MORE 
5 
THAN ONCE. 
6 
"IN THE EVENT OF DEATH, RESIGNATION, OR 
7 
REMOVAL OF THE CHAIRMAN OF PAGCOR DURING HIS 
8 
TERM OF OFFICE, HIS SUCCESSOR SHALL ONLY 
9 
SERVE THE REMAINING TERM OF THE DECEASED, 
10 
RESIGNED, OR REMOVED CHAIRMAN. 
11 
"THE BOARD OF DIRECTORS SHALL ELECT FROM 
12 
ITS MEMBERS A PRESIDENT WHO SHALL BE THE 
13 
CHIEF OPERATING OFFICER OF PAGCOR. HE SHALL 
14 
SERVE FOR A TERM OF SIX (6) YEARS UNLESS 
15 
REMOVED FOR CAUSE. HE SHALL NOT BE ELIGIBLE 
16 
FOR RE-ELECTION. 
17 
"IN THE EVENT OF DEAlfH, RESIGNATION, OR 
18 
REMOVAL OF THE PRESIDENT OF PAGCOR DURING 
19 
HIS TERM OF OFFICE, HIS SUCCESSOR SHALL ONLY 
20 
SERVE THE REMAINING TERM OF THE DECEASED, 
21 
RESIGNED OR REMOVED PRESIDENT. 
22 
SECTION 2. Repealing Clause. - All laws, decrees, orders, rules 
23 
and regulations, other issuances, or parts thereof inconsistent with 
24 
the provisions of this Act are hereby repealed, modified or amended 
25 
accordingly. 
3 


I 
SECTION 3. Effectivity. - This Act shall take effect fifteen (15) 
2 
days after its publication in at least two (2) newspapers of general 
3 
circulation. 
4 
Approved, 
4