Section 4Sec./Art. 4

Subsections (e) and (h) of Section 8 of Republic Act No. 7306 is hereby amended to read as follows:

"SEC. 8. Powers of the Network. The Network shall have the following powers:

"(a) to sue or be sued in its corporate name;

"(b) to have continuous succession in its corporate name;

"(c) to adopt and use a corporate seal;

"(d) to adopt by laws, not contrary to law, morals, or public policy, and to amend or repeal the same in accordance with the provisions of existing laws;

"(e) to acquire, purchase, receive, take or grant, hold, convey, sell, lease, pledge, mortgage and otherwise deal with such real and personal property;

"(f) to establish, purchase, install, construct, use and maintain national, regional, provincial and community stations and facilities for television broadcasting throughout and in any part of the country;

"(g) to enter into joint ventures or partnerships with other broadcasting authorities and stations or international agencies or private organizations for the purpose of promoting its broadcasting services;

"(h) to raise, borrow or obtain funds, from any source, private or government, foreign or domestic and to enter into any financial or credit arrangements in order to support and carry out its objectives and purposes, subject to the approval of the Monetary Board of the Bangko Sentral ng Pilipinas upon the recommendation of the Department of Finance and to other pertinent laws governing public debt and expenditure;

"(i) to receive donations and grants from any source whether local or foreign and avail of official development assistance and concessional loans provided by foreign governments, foundations, or financial institutions;

"(j) to enter into, make, perform and carry out contracts of any kind and description in furtherance of the corporate purpose with any person, firm, association or corporation;

"(k) to accept corporate institutional support for developmental programs and to determine the conditions subject to which the said programs may be accepted for television transmission; and

"(l) to exercise the general powers outlined in the Corporation Code of the Philippines, as well as such other incidental powers as may be necessary to carry on its activities."