Section 6Sec./Art. 6

A new section, to be designated as Section 4-A, is hereby inserted under Presidential Decree No. 269, as amended to read as follows:

"SEC. 4-A. Supervisory Powers of the NEA Over Electric Cooperatives. In the exercise of its power of supervision over electric cooperatives, the NEA shall have the following powers:

"(a) issue orders, rules and regulations, motu proprio or upon petition of third parties, to conduct investigations, referenda and other similar actions on all matters affecting the electric cooperatives;

"(b) issue preventive or disciplinary measures including, but not limited to, suspension or removal and replacement of any or all of the members of the board of directors and officers of the electric cooperative, as the NEA may deem fit and necessary and to take any other remedial measures as the law or any agreement or arrangement with NEA may provide, to attain the objectives of this Act: and

"(c) appoint independent board of directors in the electric cooperative.

"The NEA shall, in the exercise of its supervisory and disciplinary powers under this Act, strictly observe due process of law."