Section 6Sec./Art. 6

Section 8 is hereby amended by adding a new paragraph to be designated as paragraph twelfth. Paragraph eighth is likewise amended. Paragraphs eighth and twelfth shall read as follows:

"Eighth -To conduct independent examinations and to require information and reports from banks, as provided in this Act, whenever deemed necessary by the Board of Directors:Provided,That to the extent practicable, said examinations shall maximize the efficient use of available relevant reports, information and findings, specifically from the Central Bank. The Board of Directors shall prescribe such regulations may be necessary to ensure the special nature and reasonable exercise of this power."

"Twelfth - To compromise, condone or release, in whole or in part, any of claim or settled liability to the Corporation, regardless of the amount involved, under such terms and conditions as may be imposed by the Board of Directors to protect the interest of Corporation."