Section 5Sec./Art. 5

Fund System. To carry out the purposes of this Act, there is hereby created the Home Development Mutual Fund of 2009, also referred to herein as the Fund, a mutual provident savings system for private and government employees and other earning groups, supported by matching mandatory contributions of their respective employers with housing as the primary investment.

The Fund shall be a body corporate, with principal office in Metro Manila, and shall replace the Home Development Mutual Fund established under Presidential Decree No. 1752.