Section 5December 22, 1997, Sec./Art. 5

Within one (1) month from the organization of the regional government, an Oversight Committee composed of the executive secretary as Chairman, the secretary of the Department of Budget and Management, the Cordillera Regional Governor, the presiding officer of the Cordillera Legislative Assembly, two (2) senators to be designated by the Senate President, two (2) representatives to be designated by the Speaker of the House of Representatives, the executive director of the Cordillera Executive Board, the chairman of the Cordillera Regional Assembly, chief-executive of the Cordillera Bodong Administration, executive director of the Office for Northern Cultural Communities as members, shall be organized for the purpose of supervising the transfer to the autonomous region of such powers and functions vested in it by this Organic Act and the appropriations of the offices or agencies including the transfer of properties, assets and liabilities, and such personnel as may be necessary; and of identifying the other line agencies and government-owned or -controlled corporations that may be absorbed by the regional government and, with respect to the latter, also the terms and conditions of their turnover.

Within six (6) months after its organization, the oversight committee shall submit its report and recommendation to the President of the Philippines who shall act on the report and recommendations within ninety (90) days after receipt thereof: Provided, however, That if the President fails to act within said period, the recommendations of the Oversight Committee shall be deemed approved.