Section 22Sec./Art. 22

Responsibilities and Powers of the Board of Trustees. The Board shall exercise the following specific powers and duties:

(a) To define the thrusts of the OWWA and adopt policy guidelines to ensure their implementation;

(b) To preserve the integrity of the OWWA Fund;

(c) To approve programs, projects, and the organizational structure of the OWWA Secretariat;

(d) To modify or adjust the membership contribution and other necessary charges based on periodic reviews and actuarial studies, subject to due consultation with OFWs or nongovernment organizations (NGOs) advocating the protection of the rights and welfare of OFWs and their families;

(e) To formulate rules and regulations governing financial transactions and prepare the annual and supplemental budget of the Secretariat for submission to the DBM;

(f) To formulate rules and regulations governing the conduct and discipline of OWWA officials and employees in accordance with civil service rules;

(g) To ensure the efficiency of collection and the viability and sustainability of the fund through sound and judicious investment and fund management policies;

(h) To receive and appropriate all sums to carry out the purposes and functions of the OWWA;

(i) To authorize the construction or repair of its buildings, machinery, equipment and other facilities, and the purchase and acquisition of real and personal properties, including the necessary supplies, materials and equipment;

(j) To receive in trust legacies, gifts and donations of real and personal property of all kinds, and to administer and dispose the same when necessary for the benefit of the OWWA general membership and subject to the instructions of the donor, if any;

(k) To delegate any of its powers to the Chairperson of the Board or to the Administrator of the OWWA Secretariat in case of any national emergency that affects the rights and welfare of its member-OFWs and their families;

(l) To prescribe such general policies, rules and regulations, not contrary to law, consistent with the purposes of the OWWA subject to due consultation with OFWs or NGOs advocating the protection of the rights and welfare of OFWs and their families; and

(m) To exercise such, powers as may be proper and necessary to carry out the objectives of this Act.

CHAPTER VI

BOARD MEETINGS, PROXIES, AND RECORDS MANAGEMENT