Section 19Republic Act No. 3060, as amended, is hereby abolished, and its powers and functions are hereby transferred to the BOARD. Such transfer shall include the corresponding balances of appropriations, reco, Sec./Art. 19

Annual Report. - The BOARD shall, within three months after the end of every fiscal year, submit its annual report to the President. The annual report shall include, among others, a statement of the BOARD's accomplishments together with its plans and recommendations to improve and develop its operations and the supervision and regulation of the movie and television industry.