REPUBLIC ACT No. 3034
AN ACT CREATING THE MINDANAO DEVELOPMENT AUTHORITY, PRESCRIBING ITS POWERS, FUNCTIONS AND DUTIES, PROVIDING FUNDS THEREFOR, AND FOR OTHER PURPOSES.
CHAPTER I
CREATION AND ORGANIZATION OF CORPORATIONSection 1. Declaration of policy. It is hereby declared to be the policy or Congress to foster the accelerated and balanced growth of the Mindanao, Sulu and Palawan region, hereinafter referred to as the region, within the context of national plans and policies for social and economic development, through the leadership, guidance and support of the government. To achieve this end, it is recognized that a government corporation should be created for the purpose of drawing up the necessary plans for regional development; providing leadership in the setting up of pioneering or ground-breaking industrial and agricultural enterprises; coordinating or integrating the diverse efforts of the various public and private entities directly engaged in implementing plans and projects affecting power, manufacturing, mining transportation and communication, conservation, resettlement, education, extension work, health and other activities leading to the rapid socio-economic growth of the...
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Republic Acts
AN ACT CREATING THE MINDANAO DEVELOPMENT AUTHORITY
Republic Act No. 3034
Summary of Republic Act No. 3034 (Mindanao Development Authority Act of 1961)
Declaration of Policy and Creation of the Mindanao Development Authority
- It is the policy of Congress to foster the accelerated and balanced growth of the Mindanao, Sulu and Palawan region through government leadership and support. (Section 1)
- The Mindanao Development Authority is created as a body corporate to execute the powers and functions vested in it to aid in carrying out the aims and purposes of the Act. (Section 2)
Purposes of the Authority
- To survey the region's resources, conditions, and problems, and draft a comprehensive plan for its rapid socio-economic development. (Section 5a)
- To provide planning, management, and technical assistance to investors in the region. (Section 5b)
- To make recommendations on financing, support, and priority for industrial and agricultural projects. (Section 5c)
- To coordinate and integrate projects of government and private entities for the balanced development of the region. (Section 5d)
- To engage in pioneering ventures or enterprises necessary for the region's socio-economic development. (Section 5e)
- To advise and cooperate in the relocation or resettlement of affected populations. (Section 5f)
- To report annually on the progress of its activities and the region's socio-economic conditions. (Section 5g)
Corporate Powers of the Authority
- The Authority has the powers to sue and be sued, adopt a corporate seal, make contracts, acquire and dispose of property, exercise eminent domain, issue regulations, borrow funds, invest in other corporations, and perform acts necessary for its business. (Section 6)
Capitalization and Financing
- The Authority has an authorized capital of P300 million, fully subscribed by the Philippine government and paid in installments. (Section 7)
- Provisions for the Authority's operating expenses and appropriations. (Section 8)
- The Authority can issue bonds up to P50 million, subject to conditions. (Sections 9-11)
- The Authority is exempt from taxes, and its bonds are exempt from taxes except inheritance and gift taxes. (Section 12)
- A sinking fund shall be established for redeeming the bonds, under the custody of the Central Bank of the Philippines. (Section 13)
- The Philippine government guarantees the payment of the Authority's bonds and obligations. (Section 14)
Management and Personnel
- The Authority is managed by a 5-member Board of Directors appointed by the President, with the Chairman also serving as General Manager. (Sections 15-17)
- Provisions on the Board's composition, qualifications, tenure, vacancies, meetings, and per diems. (Sections 18-25)
- The General Manager is the chief executive with specified powers and duties. (Section 26)
- Qualifications and compensation of the General Manager. (Sections 27-29)
- Key officials and departments of the Authority. (Section 30)
- A merit system shall govern the recruitment, transfer, promotion, and dismissal of personnel. (Sections 31-33)
- Provisions on minimum wages, wage disputes, and other labor benefits. (Sections 34-37)
Miscellaneous Provisions
- The Authority shall formulate and report its plans for the region's development within one year of organization. (Section 38)
- Upon approval of the plans, the President shall direct the Authority to implement them and issue necessary orders or proclamations. (Section 39)
- The Authority operates as an independent corporation under the supervision of the President. (Section 40)
- Provisions on bidding for purchases and contracts, auditing, separability clause, repealing of conflicting laws, and effectivity. (Sections 41-45)
Declaration of Policy and Creation of the Mindanao Development Authority
- It is the policy of Congress to foster the accelerated and balanced growth of the Mindanao, Sulu and Palawan region through government leadership and support. (Section 1)
- The Mindanao Development Authority is created as a body corporate to execute the powers and functions vested in it to aid in carrying out the aims and purposes of the Act. (Section 2)
Purposes of the Authority
- To survey the region's resources, conditions, and problems, and draft a comprehensive plan for its rapid socio-economic development. (Section 5a)
- To provide planning, management, and technical assistance to investors in the region. (Section 5b)
- To make recommendations on financing, support, and priority for industrial and agricultural projects. (Section 5c)
- To coordinate and integrate projects of government and private entities for the balanced development of the region. (Section 5d)
- To engage in pioneering ventures or enterprises necessary for the region's socio-economic development. (Section 5e)
- To advise and cooperate in the relocation or resettlement of affected populations. (Section 5f)
- To report annually on the progress of its activities and the region's socio-economic conditions. (Section 5g)
Corporate Powers of the Authority
- The Authority has the powers to sue and be sued, adopt a corporate seal, make contracts, acquire and dispose of property, exercise eminent domain, issue regulations, borrow funds, invest in other corporations, and perform acts necessary for its business. (Section 6)
Capitalization and Financing
- The Authority has an authorized capital of P300 million, fully subscribed by the Philippine government and paid in installments. (Section 7)
- Provisions for the Authority's operating expenses and appropriations. (Section 8)
- The Authority can issue bonds up to P50 million, subject to conditions. (Sections 9-11)
- The Authority is exempt from taxes, and its bonds are exempt from taxes except inheritance and gift taxes. (Section 12)
- A sinking fund shall be established for redeeming the bonds, under the custody of the Central Bank of the Philippines. (Section 13)
- The Philippine government guarantees the payment of the Authority's bonds and obligations. (Section 14)
Management and Personnel
- The Authority is managed by a 5-member Board of Directors appointed by the President, with the Chairman also serving as General Manager. (Sections 15-17)
- Provisions on the Board's composition, qualifications, tenure, vacancies, meetings, and per diems. (Sections 18-25)
- The General Manager is the chief executive with specified powers and duties. (Section 26)
- Qualifications and compensation of the General Manager. (Sections 27-29)
- Key officials and departments of the Authority. (Section 30)
- A merit system shall govern the recruitment, transfer, promotion, and dismissal of personnel. (Sections 31-33)
- Provisions on minimum wages, wage disputes, and other labor benefits. (Sections 34-37)
Miscellaneous Provisions
- The Authority shall formulate and report its plans for the region's development within one year of organization. (Section 38)
- Upon approval of the plans, the President shall direct the Authority to implement them and issue necessary orders or proclamations. (Section 39)
- The Authority operates as an independent corporation under the supervision of the President. (Section 40)
- Provisions on bidding for purchases and contracts, auditing, separability clause, repealing of conflicting laws, and effectivity. (Sections 41-45)