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PRESIDENTIAL DECREE NO. 1862 - AMENDING Sec. 9 OF PRESIDENTIAL DECREE NO. 1206, DEFINING THE QUALIFICATIONS OF THE CHAIRMAN OF THE BOARD OF ENERGY
there is a need for extending the privileges of retirement granted by
law to members of the judiciary to other officials of the government
who are given, by statute, the status and authority of justices or
judges as in the case of the Commissioner of the defunct Public Service
Commission who was given, under Sec. 2 of CA 146, "the rank and
privilege of retirement of a judge of the Court of First Instance; and
the Chairman of the Board of Energy who was given the formal statutory
status and qualifications of a justice of the Supreme Court under
Sec. 4 of RA 6173.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Philippines, do hereby order and direct the amendment of Sec. 9 of Presidential Decree No. 1206 to read as follows:
"The Chairman and members of the Board shall be natural-born citizens and residents of the Philippines, of good moral character and at least thirty-five (35) years old. The Chairman shall be a lawyer with substantial experience in the practice of law. The members shall be of recognized competence in the field of economics, finance, banking, commerce, industry, agriculture, engineering, management, law or labor.
"No person who has worked with three (3) years immediately prior to his appointment or is working in any private firm engaged in the petroleum or electric industry or any other entity whose main business is directly related to or connected with any such firm shall be appointed to the Board.
"The term of office of the Chairman and members shall be four (4) years, but the first Chairman appointed shall hold office for four (4) years and of the first two (2) members, one (1) shall hold office for a term of three (3) years, and the other for a term of two (2) years. Unless the President decides otherwise, no person shall be appointed to serve more than two (2) successive terms in the Board.
"The Chairman of the Board shall receive a compensation of fifty-four thousand pesos annually, while the members shall each receive an annual compensation of forty-eight thousand pesos, together with such allowances as are presently enjoyed by the Chairman and members of the abolished Oil Industry Commission. The Chairman shall have the rank and privileges of retirement of a justice of the Court of Appeals."
The funds needed to implement this Decree shall be drawn from available unexpended balances and savings and from the funds which the Board of Energy is authorized to collect and disburse under Section 16 of Presidential Decree No. 1128.
This Decree shall take effect immediately.
Done in the City of Manila, this 23rd day of March, in the year of Our Lord, nineteen hundred and eighty-three.
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