Section 7January 2, 1992, Sec./Art. 7

Rehabilitation Committee. – To facilitate the implementation of the provisions of this Act, there is hereby created a rehabilitation committee which shall have a term of three (3) months from the date of the approval of this Act composed of the following: the Executive Secretary, as Chairman, and the Administrator of the Philippine Veterans Affairs Office, the President of the Veterans Foundation of the Philippines, a representative from the executive board of the Veterans Federation of the Philippines and a representative from the Board of Trustees of the Veterans of World War II or their respective representatives, as members.

Specifically, the committee shall:

(a) Prepare, finance and submit a viable rehabilitation plan to the Monetary Board of the Central Bank;

(b) Select and organize an initial manning force headed by a management team to be composed of competent, experienced and professional managers who must possess all qualifications and none of the disqualifications provided under Central Bank rules and regulations. The management team shall be staffed by a trained work force: Provided, That preference shall be given to the veterans and their dependents, other qualifications being equal;

(c) Exercise management oversight and liaison with Central Bank officers for a period which shall not exceed three (3) months reckoned from the date of approval by the Monetary Board to reopen the Veterans Bank; and

(d) Submit to the Monetary Board of the Central Bank other recommendations for the successful reopening and operations of the Veterans Bank.