Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

FIFTEENTH CONGRESS
First Regular Session

_ 3577

House Bill No.

a

Introduced by Hon. Rodolfo G. Biazon

EXPLANATORY NOTE

Laguna de Bay is considered to be the largest brackish water lake in the Philippines
having a total surface area of nine hundred (900) square kilometers. The Laguna de Bay
Region encompasses 61 municipalities and cities within six (6) provinces including Metro
Manila, of which 29 towns are lakeshore covering 187 barangays and 32 non-lakeshore
towns. There are around 13.6 million people living in the Laguna de Bay Region that rely on
it for food, irrigation, transportation, flood water reservoir, and industrial cooling, Laguna
lake has been tapped to provide potable water to three (3) barangays in the City of
Muntinlupa and that preparations are reportedly underway to widen the area that the lake
could supply potable water.

Despite the importance of the said lake, it suffers from deteriorating water quality and
that it could perish in the near future if no action is taken by the government. The Philippine
Millennium Ecosystem Assessment Sub-Global assessment of the UN done on the Laguna
Lake Basin found that the major sources of pollution of the 22 major river tributaries of the
lake are domestic wastes, both solid and liquid effluents, food processing plant wastes,
livestock wastes, chemical manufacturing spillage, various industrial effluents, fertilizers and
pesticides from agricultural runoff, and eroded soils from the watersheds. The same study
showed that by volume, the domestic sector contributes 68.5%; industry 19%; and
agriculture, 11.5% and that the total coliform counts in all rivers are in excess of the
allowable limits. It also disclosed that the lake waters are contaminated with toxic and
hazardous substances coming from the industrial and agricultural sectors and lake sediments
are likewise contaminated with heavy metals;

Land conversion due to industrialization and change in land cover as a result of
deforestation have the effect of diminishing the Laguna de Bay’s volume and may lead to soil
erosion thereby impairing the hydrology of the basin. The presence of illegally constructed
fishpens which cover more than half of the lake's surface area and the use of pellets
containing chemical-based substance, further pollute the lake.


The structure, organization and powers and functions of the Laguna Lake
Development Authority, the agency primarily tasked to take care of the lake and the Bay
Region seem to be inadequate to ensure the sustainable development of Laguna Lake. This
bill therefore seeks to strengthen the Laguna Lake Development Authority in order that it will
be able to effectively and efficiently undertake the coordinated development and management
of the lake’s water, land and related resources. In this manner, we will hopefully ensure that
Laguna Lake will still be there for future generations of Filipinos to enjoy.

In view of the foregoing, early passage of this bill is earnestly sought.

Lone District, Muntinlupa City


Republic of the Philippi
HOUSE OF REPRESENTATIVES
Quezon City

FIFTEENTH CONGRESS

First Regular Session

House BillNo.___ 357°

Introduced by Hon. Rodolfo G. Biazon

AN ACT
TO STRENGTHEN THE LAGUNA LAKE DEVELOPMENT AUTHORITY (LLDA),
THEREBY REPEALING REPUBLIC ACT NO. 4850, AS AMENDED, OTHERWISE
KNOWN AS THE LAGUNA LAKE DEVELOPMENT AUTHORITY ACT OF 1966,
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 “Laguna Lake
Development Authority Act of 2009”

SEC. 2. Declaration of Policy. — It is hereby declared the policy of the State to
promote and develop Laguna Lake and the surrounding areas that comprise the Bay Region
in a sustainable manner, with Laguna Lake as its focal point whose water resources must be
systematically managed and protected for various uses.

Toward this end, the State shall adopt an integrated water resources management
(IWRM) approach, using the lake's watersheds as planning units to interconnect and integrate
its various ecosystems pursuant to the constitutional mandate of protecting and advancing the
right of the people to a balanced and healthful ecology in accord with the rhythm and
harmony of nature.

In accordance with the IWRM approach, any development program in the region shall
always consider sustainable environmental management and the prevention of any ecological
harm, resource deterioration and pollution to allow the lake to realize its full potentials
including, among other uses, its being a major national resource in fish production.

SEC. 3. Definition of Terms. — As used in this Act, the following terms shall mean:

(@) Laguna Lake or Laguna de Bay shall refer to that area covered by lake water
when it is at the average annual maximum lake level of elevation twelve point fifty (12.50)
meters, as referred to a datum ten (10.00) meters below mean lower low water (MLLW) of
Manila de Bay. Lands located at and below such elevation are public lands which form part
of the bed of said lake.


(b) Integrated Water Resources Management ((WRM) shall refer to the process that
promotes the coordinated development and management of water, land and related resources
in order to maximize the resultant economic and social welfare in an equitable manner
without compromising the sustainability of vital ecosystems.

(c) Watershed shal! refer to the geographic area of land that drains water to a shared
destination or to an area of land that drains downslope to the lowest point. The water moves
through a network of drainage pathways, both underground and on the surface. Other terms
used interchangeably with watershed include drainage basin or catchment basin.

(@) Environment shall refer to the physical factors of the total surroundings of human
beings including, but not limited to, the lakes and other bodies of water, land, air,
atmosphere, climate, sound, odor, plants, insects, animals, its biological and physical factors,
all its life support systems and all other surrounding matters that affect directly or indirectly
the existence of human life and other life forms in a specifie area

(¢) Shorelandfakeshore areas/buffer zone shall refer to that part of Laguna Lake
along the lakeshore lying at elevation twelve point fifty (12.50) meters and below and
alternately submerged or exposed by the annual or seasonal rising and lowering of the lake
levels. This is a linear strip of land of approximately fourteen thousand (14,000) hectares
designed to separate the incompatible elements or uses or to control pollution/nuisance and
for identifying and defining development areas or zones.

(1) Groundwater shall refer to the subsurface water that occurs beneath a water table
in soils and rocks, or in geological formations.

(g) Aquaculture shall refer to fishery operations involving all forms of raising and
culturing fish and other fishery species in fresh, brackish and marine water areas.

(h) Aquastructure refers to a fishpen which is a structure enclosing a particular area
in the lake which makes use of poles surrounded by nets, fastened by a weight of sinkers
embedded in the lake bed or fishcage which is an inverted mosquito net fastened to bamboos
and such other structures used for culturing fishery/aquatic resources.

(i) Effluent shall refer to discharge from known sources which is passed into a
body of water or land, or wastewater flowing out of a manufacturing plant, industrial
plant including domestic, commercial and recreational facilities.

(i) Pollution shall refer to any alteration of the physical, chemical and biological
properties of any water, air and land resources of the Laguna Lake Region or any discharge
thereto of any liquid, gaseous or solid wastes which will render such water, air and land
resources harmful, detrimental or injurious to public health, safety or welfare or which will
adversely affect their utilization for domestic, commercial, industrial, agricultural,
recreational or other legitimate purposes.

SEC. 4. Laguna Lake Region. ~ For purposes of this Act, the Laguna Lake Region
shall comprise the provinces of Laguna and Rizal; the cities of Calamba, Sta. Rosa, San
Pablo, Pasay, Caloocan, Quezon, Manila, Makati, Mandaluyong, San Juan, Pasig, Marikina,
Muntinlupa, Antipolo, Tagaytay, Tanauan, Taguig, Lipa and Dasmarifias; the towns of
Silang, Carmona and General Mariano Alvarez in Cavite Province; the towns of Mauban,



Real, Lucban and Sampaloc in Quezon Province; the towns of Sto. Tomas and Malvar in
Batangas; and the town of Pateros in Metro Ma and all areas that drain into the Laguna
Lake: Provided, That any city or town that may be subsequently created in the future out of
the aforementioned municipalities and cities surrounding the Laguna Lake shall form part of
the Laguna Lake Region.

SEC. 5. Laguna Lake Development Authority (LLDA). ~ The Laguna Lake
Development Authority created under Republic Act No. 4850 and hereinafter referred to as
the Authority, shall pursue the sustainable development of the lake and the Bay Region. It
shal! maintain its principal office at a convenient place within the region and such branch
offices in other places within the Bay Region as are necessary for the proper conduct of its
business

SEC. 6. Powers and Functions of the LLDA. ~ The Authority shall have the
following powers and functions:

(a) Periodically conduct, monitor and update a comprehensive survey of the Bay
Region, including its socio-economic conditions, water quantity and quality in the
lake proper and all its major tributary rivers, irrigation, water supply, transport
route, reservoir of floodwater, hydroelectric and other power potentials, scenic
and tourist spots, state of its watersheds and other physical and natural resource
potentials on the basis of which it shall prepare a sustainable regional
development master plan. Such plans, projects and programs shall be drawn up in
close coordination with other concerned government agencies and the private
sector as well as other stakeholders. All concerned public and private agencies
shall provide the Authority the necessary data for the purposes of the said survey;

(b) Develop a long-term, sustainable and integrated program that shall be able to
attract more private sector-driven investments into the Bay Region, in consonance
with @ regional master plan which shall be formulated in consultation with all
stakeholders, concemed government agencies, local government units (LGUs) and
civil society

(©) Review all plans, projects and programs, including expansions thereto, proposed
and submitted by LGUs, public corporations and private persons or corporations
that relate to the development of the Bay Region to ensure that they conform to
the environmental standards prescribed by the Authority and other similar laws;

(@) Collect reasonable fees and impose charges in the performance of its mandate;

(©) Engage, whether by itself or in cooperation with private persons or entities, in
agriculture, commerce or industry, which are in the nature of new ventures;

(f) Implement infrastructure projects such as flood control, solid waste management,
wastewater and sewerage, water supply, roads, ports, irrigation, housing, leisure
parks and related works, within the context of its development master plan,
including the readjustment, relocation or resettlement of population within the
Bay Region that may be deemed necessary and beneficial in pursuit of its
mandate. Should any of these projects be financed wholly or in part by the
Authority, it shall have authority to collect reasonable fees and tolls from users or

x


projects shal! be entitled to receive the corresponding financial assistance from the
government;

(g) Undertake massive information and education campaign among the stakeholders,
in close coordination with the LGUs and other government agencies within the
Laguna de Bay Region on the importence of environmental protection and
conservation of the Laguna Lake and its watersheds;

ent dredging and/or reclamation projects in close coordination with the
nation Authority (PRA) and LGUs concerned;

(h) Imp!
Philippine Rec

development, taking into account the overall
s for the lake and related bodies of water and
development in the Bay

(i) Determine new areas of fishey
development plans and progra
promulgate rules and regulations governing fisheries
Region;

@ Engage in experimental/pilot fish production such as the propagation of
omamental fish and similar aquaculture projects in the lake and other bodies of
water within its jurisdiction, in collaboration with the Bureau of Fisheries and
Aquatic Resources (BFAR). It shall improve present fishery techniques and
practices to provide equitable access to its fishery resources for the socioeconomic
amelioration of smal! fisher folk, improvement of their communal fishing
grounds, sustainable aquaculture development and operation. In hiring laborers for
fishery-related projects, there shall be preference for qualified shore land
resident

(W) Regulate the use and occupancy of shore land areas by enjoining LGUs within the
Bay Region to establish watershed management councils or wetlands whenever
suitable and consistent with the Authority’s policies;

() Develop surface and groundwater supply sources for municipal, agricultural,
commercial and industrial use, in close coordination with the National Water
Resources Board (NWRB) or the Local Water Utilities Administration (LWUA),
as the case may be, pursuant to existing laws, executive orders and other issuances
which may be necessary to accomplish the aims and purposes of the Authority;

(m)Enter into agreements with LGUs, governmental agencies and corporations and
the private sector for the supply, treatment, distribution and marketing of such
‘water;

(n) Establish and enforce anti-pollution standards on municipal, agricultural,
commercial and industria! wastewater and effluents being discharged into the lake
in coordination with appropriate government agencies;

(0) Conduct continuing research, development and extension programs in close
coordination with the academe, the Department of Environment and Natural
Resources (DENR) and the Department of Science and Technology (DOST) on
lake water quantity and quality, integrated watershed management and enterprise

4


development and management
development in the region;

the end in view of promoting sustainable

(p) Adopt rules and regulations governing the approval of sewage works and
industrial waste disposal systems and the issuance of clearance and/or permits in
accordance with the provisions of this Act when necessary and inspect the

and maintenance of sewage works and industrial waste disposal

systems for compliance to clearance and/or permit conditions;

(q) Require all projects or activities in or affecting the Bay Region to secure
Environmental Compliance Certificates (ECCs) required under Presidential
Decree No. 1586 and grant clearances and/or permits for projects or activities
located within or affecting the Bay Region including, but not limited to, industrial
and commercial activities, navigation, irrigation, power generation, housing,
resettlement and other forms of land developments, construction and operation of
aquastructures, aquaculture development, dredging/reclamation and similar or
related activities and to impose necessary safeguards for lake water quantity and
quality contro! and management and to collect necessary fees for said activities
and projects;

(2) Issue, renew or deny permits subject to reasonable guidelines for the discharge of
sewage, industrial waste or for the installation or operation of sewage works and
industrial disposal system or parts thereof for the prevention and abatement of
pollution;

(s) Require subdivisions, condominiums,
mortuaries, public buildings and other similar human settlements in the Bay
Region to construct appropriate central sewerage systems and sewage treatment
works. The Authority may impose reasonable fees and other similar charges for
the issuance or renewal of all permits herein required;

clinical and medical establishments,

(B) Issue orders or decisions to compel compliance with the provisions of this Act and
its implementing rules and regulations only after proper notice and hearin,

(u) Make, issue, alter or modify orders or decisions, after notice and hearing,
requiring the discontinuance of pollution specifying the conditions and the time
within which such discontinuance must be accomplished;

(v) After due notice and heating, revoke, suspend or modify any clearance and/or
permit issued under this Act to prevent or abate pollution;

(w)Deputize or request the assistance of appropriate government agencies or
instrumentalities for the purpose of enforcing this Act and its implementing rules
and regulations and the orders and decisions of the Authority;

(x) To inspect and investigate at all reasonable times to enter any public and private
property devoted to agricul \dustrial use on any matter
relating to pollution and e1 ironmental danger; and



powers

%)

SEC. 7. Corporate Powers, ~ The Author

(a)

Exercise such powers and perform such other functions as may be necessary to
jes and responsi! der this Act.

carry out its d

shall have the following corporate

To succeed i corporate name;

(b) To sue and be sued in its corporate name;

()

(¢) To adopt, amend or repea!

()

ia)

(g) To exercise the right of eminent

To adopt, alter and use a corpo

laws

To enter into contracts to enable it to cary out its purposes and functions under

this Act;

To acquire, buy. purchase, hold or lease such personal and real property as it may
deem necessary in the transaction of its business or in relation to carrying out its
purposes under this Act and to lease, mortgage, sell, alienate or otherwise
encumber, utilize, exploit or dispose any such personal and real property held by
it, subject to indivi nal right of private parties or of the government

or any agency or en

domain whenever the Authority deems it
ves of

necessary to achieve the object

(h) To borrow finds from any local or foreign sources independent of the bonds it

may issue or may conti carry out the purposes of this Act;

To purchase, hold, alienate, mortgage, pledge or otherwise dispose of the shares of
the capital stock of, or any bond, securities or other evidence of indebtedness
created by eny other corporation, co-parinership or government agencies or
instrumentalities; and w! stock, to exercise all the rights of
ownership, including the right to vote thereon: Provided, That the LLDA shall not
invest its funds in any high risk det instruments issued without recourse to
commercial banks or rent houses as well as in any highly speculative
stoc!

To perform any and all acts wt
person is authorized to perfe
hereafter;

ch a comporation, co-partnership or juridical
ing laws or which may be enacted

(k) To provide incentives to encourage the private sector to fully subscribe its shares

oO

of stock; and

To issue such other rules and regulations as may be necessary from time to time to
achieve the purposes of this Act, the same to take effect thirty (30) days after its
ation in a newspaper of 2



SEC. 8. Board of Directors. ~ The Authority shall be governed by a Board of
Directors hereinafter re‘erred to as the Boord, whose members shal! be appointed by the
President of the Philippines and composed of the following:

(a) Secretary of Environment and Natura) Resources, Chairman;
(b) Genera! Manager, LLDA , Vice C
(©) Go

(d) Governor, Province of Rizal:

airman;

or, Province of L:

(©) Secretary, Department of Ag
velopment Autho!

(D) Secretary, National Econ

(g) Secretary, Department of Public Works and Highways;
(b) Chairman, Met

(® Representati

Authority;
ity and Municipal Mayors’ Association to be
constituted sixty (60) days from the passage of this Act from among the mayors

of towns and cities that comprise the Bay Region, as defined in Section 3 of this

Act;

() Representative of fisherfolk in Laguna; and

(k) Representative of fishe

The representatives of fisherfo'k from the Laguna and Rizel shal! be appointed by the
President of the Philippines to be chosen from among the nominees recommended by the
coalition of Laguna and Rizal fisherfo!k non-government and peoples organizations,
respectively. The term of the azpointive members shall be six (6) years without
reappointment, or until their successors are duly appointed and qualified. Vacancy, other than
through the expiration of the te

Members of the Board who are cabinet secretaries may designate alternate
representatives to the Board.

SEC. 9. Powers and Functions of the Board of Directors. - The Board of Directors
shall exercise the following powers and functions:

(a) Prescribe policies, rules and regu!
Authority including its procedures;

Is to govern the conduct of business of the

(b) Upon the recommendation of the Genera! Manager, approve the Authority's
organizational and adm: ive structures and corresponding staffing pattern as
may be deemed necessary; fix their reasonable compensation, allowances and
other benefits in accordance with the Salary Standardization Law; prescribe their
duties and establish such methods and procedures as may be necessary to insure
the efficient, honest and economical administration of the provisions and purposes
of this Act: Provided, however, sonnel of the Authority below the
rank of Assistant General Manager shal! be appointed by the General Manager:

a


Provided, further, That the perso: appointed by the General Manager, except
those below the rank of Department Heads, and others of comparable rank, shall
be subject to the con ¢ Board: Provided, finally, That the personnel
of the Authority shall ibe: sel lected only fro: service eligibility and

(c) Upon the recommend: f the General Manager, approve the annual and
supplemente! 4 “ty and authorize such operating and capital
expenditures and disbursements as may be necessary or proper for the effective
management, c-=ration and edmi ion of the Authority

‘cal Aévisory Council composed of representatives
r stakeholders to assist and advise the Board; and

‘echt

(2) Create and organize a
from the government and

(e) Perform such othe: be necessary to carry out the provisions of

this Act,

SEC. 10. Meetings of the Board, — The Board shal! meet at least once a month.

SEC. 11, Per Diems. ~ Members of the Board shall receive a per diem of not more
than five thousand pesos (P5,000.00) for every board meeting: Provided, however, That the
per diem collected per month does not exceed the equivalent two (2) meetings: Provided,
further, That the amount of per diem for every board meeting may be increased by the
President but such amount shall not be increeseé two (2) years after its last increase.

SEC. 12. Powers and Functions of the General Manager. - The General Manager
shall be the Chief Executive Officer of the Authority and shal! have the following powers and
functions:

(a) Submit for consideration of policies and measures that are necessary to
carry out the purposes and objectives of this Act;

(b) Execute, adm
approved by

ies, plans, programs and projects

(©) Manage and supervise the operation and administration of the Authority;

(@) Appoint all officials and
General Manager and remove
in accordance with exist’

‘oyees of the Authority below the rank of Assistant
suspend or otherwise discipline the same for cause,
service laws, rules and regulations;

(e) Submit quarterly reports to the Board on personne! selection, placement and
training:

(H Render an annual report to the Board and various stakeholders regarding the
operation of the Author: ‘est financial statements;

(g) Represent the Avtt
of the governmer
domestic and fore

with offices, agencies and instrumentalities
persons and other entities, public or private,

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(h) Perform such other fare
vested in him/her by the £

ns as may be provided in the by-laws and as may be

SEC. 13. Quelifeations of the General Manager. ~ No person shall be appointed
General Maneger unless he is a natural bom citizen, resident of the Philippines, has
unguestion: y end demon ve competence and experience in any of the
fi istration. economic planning, environmental and natural resource
management, or i ment end rge agricultural, commercial or
industrial enterprise

SEC. 14, Tenure of Office of the General Manager. ~ Tae General Manager shall be
appointed by the P: ines for a fixed term of six (6) years. In case of
resignation, retireme: reassignment, removal and other cause of
cessation from office. the replacem 1 serve only for the unexpired portion of the term.

SEC. 15. Compensation. - The General Manoger shal! receive compensation at rates
in accordance with the Salary Standardization Law.

SEC. 16. Management Structure. —'n carry

out the activities of the Authority, the
‘be assisted by two (2) Assistant General Managers, one for Operations
e such powers, duties and functions as the

General Manager she!
and another for Ad

absence of or during ¢
Manager 's duly apo!

(a) Corporate Lega! Affai
support to all the corporate units on lege!
erty and é i

Documentation Division;

ich shall provide legal advice and
ications of the various undertakings
Division and Research and

(b) Administrative Department — whic!
relating to human resource
services;

shall be responsible for providing services
management, records management and general

(c) Finance Denertment - w'
and enhancement, assist
of corpo:

de resnonsible on revenue planning, generation
y cial matters, and safekeeping

te asset

Scovices Department ~ which will undertake
development, and advise the General Manager on policy
proval of the Board;

(¢) Policy Planning and Ms
policy researc!
positions and

(e) Integrated Wat Mana:
as the main technica! arm of the A\

nt Services Department — which will serve
grate the functions of lake
oversce the management of the
ing the shore lands: and


@ Environr 1] the environmental

a) ! Protection Dy
regulatory fe

ment — which will manage

ns of the Aw

‘The Board she"! periodically review the ennronriateness of the existing organizational
structure and amend the sume whenever it m: and beneficial to achieve the
purposes of this Act. Any nropesed chenge in the organizational structure of the Authority
President of the ?! nes.

mental Adjudication Panel (LEAP), ~ For
dlcial powers of the Authority within the
2 D) is hereby created which
rman and two (2) other peinemier representing the Office of the
L s Department and the concerned department

the purpose of effectiy
Bay Region, the LLDA Env
shall be composed of a ©"
General Manager, the Corporate

fons of this Act including
ision, order or

all existing and relev
resolution shal! be cone:
the General Manager.

The Corporate Lege! Affairs Department shel! serve as the Secretariat of the LEAP.

Authority is hereby authorized to impose
may Ceem reasonable and appropriate as
¢ for non-compliance with permit conditions and for
 elearance/nermit from the Authority against any
gion who may de found violating, or have in

determined and approved by
undertaking development acti
person, juridical o other
fact violated, any of its rvles and ree

Likewise, the Autho
against those who shal! commence to im
Region without its prior anprova! or clea:

rized to

the necessary legal proceedings
oment any development activities within the Bay
nee.

SEC. 19. Damages. - Compensation for any damage to the shore land, water and
aquatic resources of Laguna Lake i ng from failure to meet established
water and effluent o: y standards or from such other wrongful acts or omissions of a

j b: mishable under existing laws, shall be

person, private or py
awarded to the Autho: control and management projects.

» Clause. = Any person, natural or juridical, who
ions of this Act and ‘ementing rules and regulations shall
not exceeding three (3) years or a fine not less than Fifty thousand
t the diseretion of the court. This shall be without prejudice to
es as may be provided under existing and relevant laws, rules and

shall violate any of the oro’
be liable to it
Pesos (P50. 000. 00), or bot
the imposition of pena
regulations,

f the violator is a corpora
organization concemed s

9 or association, the officer/officers of the

'¢, prosecute and defend all suits,
damages resulting from infractions of the



‘cultural, irrigation,
transport and
‘reclamation from all private and

including, b
commercial, industrial,
2 disno:
es GaSiien baveromios

er power potenti

I the fees so co!'ected shal! v appropriated for the sustainable
development of the Inke and fis watershed ‘ded, That the fees collected for
fisheries mey be shored < wher goverment agencies and LGUs as
follows th thirty-five percent (35%) of go to shore land LGUS; five percent

¢ remaining sixty percent (60%) shall!

hed in such manner that the
., as may be determined by
J by the stockholders representing a majority of the
vote, shall be sufficient to redeem at

SEC. 22. Sinking Fund.
total annual contribution thereto
the Board of Directors and con‘irm
subscribed capital
maturity the bonds

treasurer of the Authority who shall invest
rectors may direct; charge all expenses of
same with the interest on investment and other

Such fund s!
the same in such mm
investment to said sinki
income belonging to

SEC. 23, Capitatization and Financing. - The Authority shall have an authorized
fundred Million Pesos (P70! 00.00). The authorized capital shall be
divided into seven (7,009.000) shares of stock with a of One hundred pesos
(P100.00) per share. The nationa! government shall subscribe to four million two hundred
thousand (4,200,000) she: ince of 2 to seven hundred thousand (700,000)
shares, the Province of Ri cred ¢ ¢ (700,000) shares and the balance of

£20,000) shares shall be open for subscription to other
2's or corporations within the Bay Region.

mn nine hundred thousand (4,900,000) ordinary shares (voting); and

(b) Two mil!ion one

shares of the nat
annua! General A;
internal revenue allotment and other loca! funds,

SEC. 25, Exemption from Taxes. ~
licenses, fees,

hority shall be exempt from alll taxes,
costs and dutfes excent real property tax incidental to its

any court

votive proceedings in which it may


opines, its provinces, cities,
-s, Such exemption shall
._ purchase or transfer of foreign
.é hy the Authority shall be

include any tax or
exchange. All n
from all taxes.

‘on on Audit (COA) shal! be the
Por this nurnose. he may appoint @ representative who
1 necessary nersonne! to assist said representative

and progress of the Avtho’

SEC. 27. Implement
regulations to effect'y
adopted by the Boare
of this Act which s!
circulation.

~ The implementing rules and
Act shall be promulgated and
v (90) days after the approval
+ one (1) national newspaper of general

SEC. 28. Repe
Decree No, 813, Execs
regulations inconsistent 4

. 850, as amended, Presidential
orders, issuances, rules and

SEC. 29. Separability Clause, — If any provision of this Act is declared

unconstitw’ ty and effectiveness of the other
provisions hereo®

I! not aff

SEC. 30. Effeetivity. - This Act
publication in at least two (2) natfona!

woke effect fiteen (15) days following its
poners of general circulation.

Approved,