Section 10December 14, 1980, Sec./Art. 10

Corporate Powers. The Fund shall have the powers and functions specified in this Act and the usual corporate powers:

(a) To make policies and guidelines, as well as adopt, amend and rescind such rules and regulations as may be necessary to carry out the provisions and purposes of this Act;

(b) To submit annually to the President of the Philippines not later than March 15, and make available to the members of public report covering its activities in the implementation of this Act, as well as the state of the Fund during the preceding year, including information and recommendations for the development and improvement of the Fund;

(c) To invest its fund, directly or indirectly, in accordance with this Act;

(d) To acquire, utilize, or dispose of, in any manner recognized by law, real or personal properties to carry out the purposes of this Act;

(e) To set up its own accounting and computer systems; to conduct continuing actuarial and statistical studies and valuations to determine the financial viability of the Fund and its projects; to require reports, compilations and analysis of statistical and economic data, as well as make such other studies and surveys as may be needed for the proper administration and development of the Fund;

(f) To have the power of succession; to sue and be sued; to adopt and use a corporate seal;

(g) To enter into and carry out contracts of every kind and description with any person, firm or association or corporation, domestic or foreign;

(h) To borrow funds from any source, private or government, foreign or domestic;

(i) To invest, own or otherwise participate in equity in any establishment, firm or entity; to form, organize, invest in or establish and maintain a subsidiary or subsidiaries in relation to any of its purposes;

(j) To exercise such powers and perform such acts as may be necessary, useful, incidental or auxiliary to carry out the provisions of this Act.