Section 7Sec./Art. 7

Section 9, subsections (b) and (d) of the same Act is hereby amended to read as follows:

"(b) The Board of Directors shall appoint examiners who shall have power, on behalf of the Corporation to examine any insured bank. Each such examiner shall have the power to make a thorough examination of all the affairs of the bank and in doing so, ha shall have the power to administer oaths, to examine and take and preserve the testimony of any of the officers and agents thereof, and, to compel the presentation of books, documents, papers or records necessary in his judgment to ascertain the facts relative to the condition of the bank; and shall make a full and detailed report of the condition of the bank to the Corporation. The Board of Directors in like manner shall appoint claim agents who shall have the power to investigate and examine all claim for insured deposits and transferred deposits.

Each claim agent shall have the power to administer oaths and to examine under oath and take and preserve testimony of any person relating to such claim."

"(d) The Corporation shall have access to reports of examination made by, and reports of condition made to the Central Bank of the Philippines or its appropriate supervising departments, and the Central Bank of the Philippines shall also have access to reports of examination made by, and reports of condition made to the Corporation:Provided,That the provisions of any law to the contrary nonwithstanding, the Corporation shall likewise have access to reports, findings and any other information derived from any special or general examination or inquiry conducted by the Central Bank in respect to bank fraud or serious irregularity in an insured bank:Provided,That, the Corporation shall use such reports and findings under similar terms and conditions prescribed by applicable laws on the Central Bank."