Section 22Republic Act No. 992, Presidential Decrees No. 75 and 999 and all laws, decrees, executive orders, rules and regulations or parts thereof which are inconsistent with the provisions of this Decree are , Sec./Art. 22

Budgetary Requirement of Government-Owned or Controlled Corporations.

The internal operating budgets of government-owned or controlled corporations and of chartered institutions shall be approved by their respective governing boards in accordance with a budget calendar and format as may be approved by the President: provided, that such budgets shall be subject to review and approval as part of the budget process in cases where national government budgetary support is needed, in terms of (a) capital or equity inputs, (b) operating contributions to support specific activities undertaken by the institution as part of its regular functions, and (c) guarantee of the national government for obligations or contracts entered into by the corporations: provided, further, that the submission of interim financial statements may be required by the Commissioner.