REPUBLIC ACT NO. 4775 - AN ACT
INCLUDING THE PROVINCE OF ROMBLON IN THE REGION SERVED BY PANAY
DEVELOPMENT AUTHORITY, AMENDING FOR THE PURPOSE REPUBLIC ACT NUMBERED
THIRTY-EIGHT HUNDRED FIFTY-SIX
Section 1. Section one of Republic Act Numbered Thirty-eight
hundred fifty-six is amended to read as follows:
"Section 1. Declaration of Policy. — It is hereby
declared to be the policy of Congress to adopt accelerated measures and
to utilize to the maximum local resources and talents to bolster
agro-industrial development through the leadership, guidance and
support of the Government. To this end, cognizant of the necessity of
grouping together regional areas having similar economic and
geographical basis, the provinces grouped together as one region
comprising the Island of Panay and the Province of Romblon, hereinafter
referred to as the region, shall constitute a Regional Development
Authority for the purpose of conducting economic surveys to determine
its agricultural and industrial potentialities and mapping out and
implementing plans and programs to effect the coordinated and
integrated efforts of various government agencies, as well as private
entities engaged in activities conducive to rapid regional
agro-industrial development; of providing active leadership in the
establishment of pioneering industrial, agricultural or similar
enterprises and lending financial, managerial and/or technical
assistance to existing or prospective ventures within the region."
Sec. 2. Section twelve of the same Act is amended
to read as follows:
"Sec. 12. Board of Directors — Composition. — The
corporate powers of the Authority shall be vested in and exercised by a
Board of Directors herein referred to as the Board, which shall be
composed of five members including its chairman, appointed by the
President of the Philippines with the consent of the Commission on
Appointments. The governors of the Provinces of Aklan, Capiz, Antique,
Iloilo and Romblon shall be members ex-officio of the Board and as such
shall take part in all its meetings, deliberations and discussions, but
shall not have the right to vote, except as hereinafter provided."
Sec. 3. This Act shall take effect upon its
approval.
Approved: June 18, 1966
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