Section 6Sec./Art. 6

Powers and Functions of the Board. -The Board as a collegial body shall be responsible for policy formulation, strategic planning and direction setting of the agency and shall exercise the following powers and functions:

(a) Formulate policies, rules and regulations consistent with the provisions of Republic Act No. 9520 and this Act;

(b) Adopt IRR for the conduct of the internal operations of the Authority;

(c) Organize the operating structure and functions of the Authority;

(d) Approve the work and financial plan of the Authority;

(e) Approve annual, medium-term and long-term cooperative development plans of the Authority consistent with the overall socioeconomic development policy of the national government;

(f) Provide overall direction to the Authority, defining the respective roles of the national government agencies (NGAs), LGUs, peoples organizations, private sector and nongovernment organizations (NGOs) in the promotion and development of the cooperative sector;

(g) Conduct regular policy consultations with the cooperative sector, government agencies, LGUs, peoples organizations, private sector, NGOs, and other stakeholders on the Authoritys policies, programs and initiatives;

(h) Decide cases involving cooperatives that are submitted to the Board for resolution;

(i) Authorize the Chairperson or the Administrator to enter into contracts or agreements in behalf of the Authority;

(j) Approve and submit the annual proposed budget of the Authority to the President of the Philippines through the DBM; and

(k) Formulate rules and regulations and exercise such other powers as may be required to implement the objectives of this Act.