NINETEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
)
SENATE
S.B. No. 1 713
of Hie
23 JAN 19 P5:32
RECEIVED BY; _
Introduced by SENATOR IMEE R. MARCOS
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 OTHER PURPOSES"
EXPLANATORY NOTE
Section 9, Article XIII of the 1987 Constitution provides that, "the State shall, 
bylaw, 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. "
The National Housing Authority (NHA) is a government-owned and controlled 
corporation (GOCC), duly organized and established by virtue of Presidential Decree 
No. 757 issued by President Ferdinand E. Marcos on 31 July 1975 that will expire 
fifty (50) years thereafter, but may be extended, and later amended by Executive 
Order No. 90 on 17 December 1986.
According to the Commission on Audit 2021 Report, NHA is the primary 
government agency in charge of providing housing assistance to the lowest 30% of 
the urban population through slum upgrading, informal settler relocation, 
development of sites and services and construction of core housing units.
On 14 February 2019, Republic Act (RA) No. 11201 otherwise known as the 
"Department of Human Settlements and Urban Development (DHSUD) Act" was 
enacted which put NHA as an attached agency and under the administrative 
supervision of the DHSUD. RA 11201 provides that NHA shall continue to function 
as a production and financing arm in housing and shall exercise all other functions 
based on its existing charter and its other mandates as provided under existing laws, 
subject to the policy directions of its Board of Directors.
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On 27 September 2021, it was reported that the Philippine Statistics Agency 
estimates about 4.5 million homeless people in the Philippines out of a population 
of 106 million. A large majority of these homeless citizens, or about 3 million, live 
on the streets and alleys of the capital Manila.
Furthermore, the National Economic and Development Authority (NEDA) 
emphasized to the business sector the importance of housing and urban 
development in reducing poverty in the country in its AmBisyon Natin 2040, which 
was aimed at making the Philippines a prosperous, middle-class society where no 
one will be poor by 2040. Among the goals of AmBisyon Natin 2040 is to provide 
every Filipino family their own house.
The past two years were not easy for any sector or any country. The 
onslaught of the COVID-19 highlighted shelter as the primary essential for 
protection against the virus. While battling through the pandemic, people also lost 
their houses to typhoons, floods, earthquakes, landslides, and other calamities. As 
of June 2022, the NFIA has completed 21,288 housing units or 38% of its 56,304 
target. It has also started building 8,501 more housing units. On 9 November 2022, 
NFIA General Manager Joeben Tai announced that the NFIA shall endeavor to 
complete a total of 30,000 housing units for low-income families by the end of the 
year.
Thus, this bill seeks to extend for a period of Fifty (50) years, upon approval, 
the corporate term of the NFIA and provide for its continued existence that will 
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 access by the people to a decent 
standard of living and improved quality of life for all.
For the foregoing reasons, the passage of this bill is earnestly sought.
. MARCOS


NINETEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
)
SENATE
S.B. No. 1713
>rS!:?V
©cuatr
of tijr
23 JAN 19 P5 :32
Introduced by SENATOR IMEE R. MARCOS
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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 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"
SEC. 2. Declaration of Policy. -It is the policy of the State to ensure a continuing 
and sustainable program for urban land reform and housing which shall make available, 
affordable, and decent housing with 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;


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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;
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.
SEC. 3. Statement of Objectives. -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 outcome.
SEC. 4. Extension of Corporate Term. - The corporate term of the government 
corporation known as the "National Housing Authority (NHA)j' hereinafter, the 
"Authority created by virtue of Presidential Decree No. 757 (P.D. 757) shall be 
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 provided 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.


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SEC. 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.
SEC. 6. Powers and Functions of the Authority. - The Authority, in line with its 
role as the sole government agency engaged in direct housing 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:
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programs for the improvement of urban areas;
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direct shelter production and disposition primarily for informal 
settler families and the underprivileged and homeless;
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relocation of families subject of court-ordered eviction; and
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housing programs for government employees and uniformed 
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 reservation, 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,


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or whenever necessary, demolishing previously erected structures similar
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in nature, subject to existing laws and regulations;
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f) Provide technical and other forms of assistance to local government units
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in the implementation of their own housing programs, or private
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developers undertaking low-cost housing projects, subject to the policies
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of the Authority;
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g) Undertake financing of housing programs initiated by local government
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units or local communities; and
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h) Extend shelter services to victims of calamities, natural or man-made, as
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declared by the President. For this purpose, the Authority is given
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sufficient leeway by other government agencies to expedite said process.
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II. Asset Management and Business Development
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a) Exercise the right of eminent domain, purchase, sell, lease and/or
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exchange lands for purposes of housing development, resettlement and
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other related services and facilities;
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b) Issue bonds or contract loans, credits, or indebtedness, including
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suppliers' credit or any deferred payment arrangements with any person
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or entity, domestic or foreign, for the implementation of its housing
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programs;
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c) Invest its funds, as it may deem proper, in bonds and securities issued
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and guaranteed by the government or by the Bangko Sentra! ng Pilipinas
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(BSP), and to invest, own, or otherwise participate in equity in any
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establishment, firm or entity or to form, organize, invest in or establish
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and maintain a subsidiary or subsidiaries in relation to any of its purposes;
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d) Ensure the collection and recovery of all indebtedness, liabilities and/or
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accountabilities, due from all obligors, whether public or private, with the
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right to demand payment of the obligations referred to herein, and in the
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event of failure or refusal of the obligor or debtor to comply with the
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demand, to initiate and institute the necessary or proper actions or suits,
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criminal, civil administrative or otherwise, before the courts, tribunals,
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commissions, boards or bodies of proper jurisdiction. Providedthe
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Authority may compromise or release, in whole or in part, any interest,
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penalty or civil liability to the Authority in connection with the collection
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or amortizations, under such terms and conditions as prescribed by the
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Board of Directors: Provided further that, the Board may, upon
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recommendation of the General Manager, deputize any member of the


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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; and
e) 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 of 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


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deductible from the gross income of the donor or grantor for 
income tax purposes;
f) 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.
SEC. 7. The Board of Directors; Its Composition. -The Board of Directors, 
hereinafter referred to as the "Board", is hereby reconstituted to have a maximum of 
thirteen (13) members, consisting of the following:
a) Eleven (11) ex officio members, namely:
1. Secretary of the Department of Human Settlements and Urban 
Development (DHSUD);
2. Secretary of the Department of Public Works and Highways (DPWH);
3. Secretary of the Department of Finance (DOF);
4. Secretary of the Department of Trade and Industry (DTI);
5. Secretary of the Department of Labor and Employment (DOLE);
6. Secretary of the Department of Environment and Natural Resources 
(DENR);
7. Secretary of the Department of Interior and Local Government (DILG);
8. Secretary of the Department of Budget and Management (DBM);
9. Director-General of the National Economic and Development Authority 
(NEDA);
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 two (2) expert panel members must have the following qualifications: (i) 
Filipino citizens and of good moral character; (ii) be of recognized probity and 
independence, (iii) must have distinguished themselves professionally in public, civic, 
or academic service; (iv) in the active practice of their professions for at least seven


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(7) years; and (v) not appointed within one (1) year after losing in the immediately 
preceding elections, whether regular or special.
The Secretary of the DHSUD shall be the ex-officio Chairperson of the Board. 
Provided that, all appointive directors must have qualified under the Fit and Proper 
Rule, as defined by Republic Act No. 10149 or the Governance Commission for GOCCs 
(GCG) Law. 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 seven (7) members of the Board, as may be 
necessary. Provided\hsit, 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.
SEC. 8. Powers and Functions of the Board. - The Board shall have the powers 
and functions specified in this Act, as well as the usual corporate powers:
a) Formulate, prescribe, and promulgate the implementing rules and 
regulations required under 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\ha\., the Board may reduce but 
may not increase any item proposed by the General Manager;
d) Approve 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 the private sector, which may include


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real estate developers or construction companies with dependable reputation
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and proven track record in developing and managing real estate ventures;
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h) Condone or compromise, in whole or in part, penalties, interests or civil
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liabilities imposed on beneficiaries with delinquent accounts who, for
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justifiable reasons prescribed by the Board, failed to pay on time any
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obligation due to the Authority;
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i) Render annual reports to the President and such special reports, as may be
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requested; and
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j) Exercise such other powers necessary for the attainment of the purposes of
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this Act.
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SEC. 9. Responsibilities of the General Manager. - The General Manager shall
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have the following responsibilities:
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a) Execute and administer the policies and resolutions approved by the Board
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of Directors and prepare its agenda;
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b) Direct and supervise the operations, management, and internal affairs of the
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Authority. The General Manager may delegate certain of his administrative
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responsibilities to other officers of the Authority, subject to the rules and
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regulations promulgated by the Board;
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c) Subject to the approval of the Board, to fix the number and salaries of and
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appoint, the subordinate officers and personnel of the Authority and to
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remove, or otherwise sanction, for cause, any such officer or employee
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pursuant to the Civil Service Commission;
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d) Represent the Authority in all dealings with other officers, agencies, and
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instrumentalities of the Government and with all persons and entities, public
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or private, domestic or foreign;
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e) Act, in the conduct of the business, on all matters that are not by this Act
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specifically reserved to the Board;
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f) Solely confer lot awards to the eligible beneficiaries;
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g) Decide, to the exclusion of courts and any other government agencies, cases
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filed questioning the propriety of lot awards granted to the Authority's
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beneficiaries; for this purpose, the General Manager may create a body for
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the investigation and adjudication of such cases;
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h) Report and submit to the Board within thirty (30) days after the close of each
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fiscal year, if applicable, a comprehensive report of the operations of the
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Authority for the preceding year, and the state of its affairs; and
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i) Exercise such other powers and duties as may be vested by the Board.


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SEC. 10. Assistant Genera! Managers. - The General Manager shall be assisted 
by three (3) Assistant General Managers, who shall be appointed by the President, 
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.
SEC. 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, probity, 
competence and has expertise in housing, urban planning and development.
SEC. 12. Organizational Structure and Staffing Pattern. - Subject to the 
approval of the Governance Commission for GOCCs (GCG), the Board shall determine 
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 approval of the Board, the General Manager shall likewise 
determine 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. In no case shall the rates of 
allowances, honoraria and such other additional compensation shall exceed ten percent 
(10%) of the annual total savings prior to the grant thereof, subject to confirmation of 
such savings by the Department of Budget Management (DBM) and the Commission 
on Audit (COA).
SEC. 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, environmental compliance 
certificate (ECC) fees and other regulatory fees. Similarly, the Authority shall be exempt


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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 NHA, in cooperation with local government units, the private sector and other 
entities, shall also enjoy the exemptions enumerated above.
SEC. 14. Lands for Authority Projects, Management, Conversion and 
Ciassification. - 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 DHSUD, the DILG, the 
DA and the DAR shall craft the rules and regulations necessary to implement this 
provision.
The conversion and reclassification of lands for housing projects shall be without 
prejudice to the rights of the beneficiaries under Republic Act No. 6657, as amended.
SEC. 15. Designation of the Nationai 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 DHSUD is hereby directed to submit immediately an updated list of 
government-owned lands suitable for socialized housing purposes. The DHSUD shall
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also make recommendations for the President relative to the disposition of the lands 
subject hereof.
SEC. 16. Management or Disposition of Completed Projects - 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 
concerned local government unit or other concerned public or private entity, as the 
case may be.
SEC. 17. Issuance of Bonds. - Subject to the approval of the Secretary of 
Finance, after consultation with the Monetary Board of the Bangko Sentraing 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 
percent (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 existing laws, rules and regulations.
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 Central ng Pilipinas 
which may invest the same in Bangko SentraiCedM\cates of Indebtedness and similar 
financing schemes subject to the approval of the Authority in consultation with the
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Secretary of Finance: Provided, that the proceeds from such scheme shall accrue to 
the Authority.
SEC. 18. Guarantee by the Government-J\\e 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.
SEC. 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 (NEDA) and approved by the President.
SEC. 20. Reports. -The Authority shall submit an annual report to the Office of 
the President, copy furnished to the DHSUD, 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.
SEC. 21. Audit - The Chairperson of the Commission on Audit (COA) shall act 
as the ex-officio ^u6\\.or 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.
SEC. 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.
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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.
SEC. 23. Applicability of the Revised Corporation Law. -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.
SEC. 24. Separability Clause. - If, for any reason or reasons, any part or 
provision of this Act shall be declared as unconstitutional or invalid, the other parts or 
provisions hereof which are not affected thereby shall continue to be in full force and 
effect.
SEC. 25. Repealing Clause. - All provisions of existing laws, orders, rules and 
regulations or parts thereof which are in conflict or inconsistent with the provisions of 
this Act are hereby repealed, amended or modified accordingly.
SEC. 26. Effectivity. — This Act shall take effect fifteen (15) days after its 
publication in the Official Gazette or in a newspaper of general circulation in the 
Philippines.
Approved,
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