Section 12Sec./Art. 12

Powers .and Functions of the Aurora Special Economic Zone Authority (ASEZA) . - The Aurora Special Economic Zone Authority shall have the following powers and functions:

(a) To operate, administer, manage and develop the Aurora Ecozone according to the principles and provisions set forth in this Act;

(b) To register, regulate and supervise the enterprises in the Aurora Ecozone in an efficient and decentralized manner, subject to existing laws;

(c) To coordinate with local government units and exercise general supervision over the development plans, activities and operations of the Aurora Ecozone;

(d) To regulate and undertake the establishment, operation and maintenance of utilities, other services and infrastructure in the Aurora Ecozone such as but not limited to heat, light and power, water supply, telecommunications, transport, toll roads and bridges, port services, etc. and to fix just, reasonable and competitive rates, fares, charges and prices thereof;

(e) To construct, acquire, own, lease, operate and maintain on its own or through contracts, franchise, licenses, bulk purchase from the private sector or permits under any of the schemes allowed in Republic Act No. 6957 (the Build-Operate-Transfer Law, as amended by R.A. No. 7718) , or joint venture, adequate facilities and infrastructures required or needed for the operation and development of the Aurora Ecozone, in coordination with appropriate national and local government authorities and in conformity with applicable laws thereon;

(f) To operate on its own, either directly or through a license to other tourism-related activities, including games, amusements, recreational and sports facilities;

(g) Subject to the approval of the President of the Philippines and the Monetary Board of the Bangko Sentral ng Pilipinas and upon the recommendation of the Department of Finance, to raise or borrow adequate and necessary funds from local or foreign sources to finance its projects and programs under this Act, and for that purpose to issue bonds, promissory notes, and other forms of securities, and to secure the same by a guarantee, pledge, mortgage, deed of trust, or an assignment of all or part of its property or assets;

(h) To protect, preserve, maintain and develop the virgin forests, beaches, coral and coral reefs and maintain ecological balance within the Aurora Ecozone;

(i) To create, operate and/or contract to operate such functional units of offices of the ASEZA as it may deem necessary;

(j) To adopt, alter and use a corporate seal; make contracts, leases, own, or otherwise dispose of personal or real property; sue and be sued; and otherwise carry out its functions and duties as provided for in this Act;

(k) To issue certificates of origin for products manufactured or processed in the Aurora Ecozone in accordance with prevailing rules of origin, and the pertinent regulations of the PEZA, the DTI and/or the Department of Finance (DOF) ;

(l) To issue working visas renewable every two (2) years to foreign executives and foreign technicians with highly specialized skills which no Filipinos possesses, as certified by the Department of Labor and Employment;

(m) To report to the Bureau of Immigration the names of the foreigners who have been granted permanent resident status and working visas within thirty (30) days after issuance of such grant;

(n) To exercise such powers as may be essential, necessary or incidental to the powers granted to it hereunder as well as those that shall enable it to carry out, implement and accomplish the purposes, objectives and policies of this Act; and

(o) To issue rules and regulations consistent with the provisions of this Act as may be necessary to accomplish and implement the purposes, objectives and policies provided herein.