Section 8Sec./Art. 8

Section 9 of the same Act is hereby further amended to read as follows:

"POWERS AS CORPORATE BODY

"Section 9. The Corporation as a corporate body shall have the powers:

"x x x

"Fifth - To appoint by its Board of Directors such officers and employees as are not otherwise provided for in this Act, to define their duties, require bonds of them and fix penalty thereof and to dismiss such officers and employees for cause;

"x x x

"Eighth - To examine the records and books of accounts and require information and reports from depository institutions in case there is a finding of fraud or unsafe or unsound banking related to deposit-taking: Provided, That, notwithstanding the provisions of Republic Act No. 1405, as amended, Republic Act No. 6426, as amended, Republic Act No. 8791, and other laws, the Corporation and/or the Bangko Sentral ng Pilipinas, may inquire into or examine deposit accounts and all information related thereto in case there is a finding of unsafe or unsound banking practice: Provided, further, That to avoid overlapping of efforts, the examination shall maximize the efficient use of the relevant reports, information, and findings of the Bangko Sentral ng Pilipinas, which it shall make available to the Corporation.

"x x x

"Fourteenth - To determine the appropriate mode of liquidation of a closed bank and to implement the same."