Section 123March 10, 1990, Sec./Art. 123

Regulations. - (1) The Cooperative Development Authority may issue regulations to implement those provisions of this Code which expressly call for the issuance thereof. This paragraph shall not apply to those cases wherein a specific provision of this Code expressly designates particular government agencies which shall issue the regulations called for by any provision of this Code.

(2) Where a provision of this Code does not expressly call for nor authorize the issuance of a regulation, no regulation shall be issued thereon. Any regulation issued in violation of this paragraph shall be null and void ab initio.

(3) No regulation shall be issued nor become effective under this Code unless the following requirements are satisfied:

(a) Public announcement on the intention to issue regulations describing the subject to be dealt on with a copy of the proposed regulations attached, inviting the public to make known their views thereon and submit their positions with respect thereof. The announcement shall be published in a daily newspaper of national general circulation at least once a week for four (4) consecutive weeks prior to the intended date of commencement of the public hearing thereon, specifying the date, time and place of the public hearing;

(b) Public hearings may be conducted separately in Luzon, Visayas and Mindanao by the Authority and the proceedings thereof shall be duly recorded. Minutes of a public hearing shall be made available to the public at cost. The public hearing may be held in several sessions: Provided, That no session shall be conducted unless the minutes of all other previous sessions have been published beforehand;

(c) The proceed regulations shall be supported by a memorandum of justification for every provision thereof which shall include citation of the legal bases therefore, the reasons for such provision, and the expected results therefrom; and

(d) The regulations shall be recommended by the Authority and approved by the Office of the President, and the same shall take effect thirty (30) days after publication in the Official Gazette.