Policy-oriented research purpose
- Section 2 requires the Institute to develop a comprehensive and integrated research program that supplies research materials and studies for formulation of national development plans and policies.
- Section 2 requires the research program to be evolved through constant interaction between the Institute and the appropriate government agency or agencies.
- Section 2 establishes the Institute as a common link between government and existing research institutions through a forum for discussion and evaluation of research studies.
- Section 2 authorizes the Institute to conduct and undertake research requested by government or its agencies and to arrange for research by other research institutions and individuals, both locally and abroad.
- Section 2 authorizes joint studies with domestic research institutions in the academic, government, and business sector.
- Section 2 requires the Institute to establish a repository for economic research information and other related activities.
Corporate powers and funding management
- Section 3 authorizes the Institute to adopt, alter, and use a corporate seal.
- Section 3 authorizes the Institute to collect, receive, and maintain funds from government appropriations and from donations, grants, gifts, bequests, and loans from domestic and foreign sources, and to apply income and principal to its purposes.
- Section 3 authorizes the Institute to own, manage, and hold real and personal property necessary for its purposes.
- Section 3 authorizes the Institute, to advance its objectives, to extend financial assistance and to enter into contracts of every kind and for any lawful purpose with any person or entity, domestic or foreign, where the Institute has a lawful interest.
- Section 3 authorizes the Institute to invest its funds in undertakings it deems wise or necessary to carry out its objectives.
- Section 3 authorizes the Institute, generally, to do all acts and things necessary to carry into effect the Decree.
Board of Trustees composition and quorum
- Section 4 vests management of the Institute in a Board of Trustees headed by the Secretary of Economic Planning (or representative) as Chairman.
- Section 4 provides for four (4) other members initially appointed by the President of the Philippines upon recommendation of the Secretary of Economic Planning.
- Section 4 sets the appointive members’ term at four years.
- Section 4 provides staggered terms for the first four appointed members: one for four years, one for three years, one for two years, and one for one year.
- Section 4 provides that vacancies in appointive membership are filled by a successor appointed by the remaining Board members to serve only the unexpired term.
- Section 4 provides that if the remaining Board members do not constitute a majority, the appointment is done by the President.
- Section 4 provides that the Board determines per diems and allowances for Board members, subject to existing laws, rules, and regulations.
- Section 4 requires a majority of Board members to constitute a quorum for Board business.
Board functions and President duties
Section 5 requires the Board to formulate and adopt policies and measures for management and operation of the Institute.
Section 5 requires the Board to appoint the President of the Institute from among the appointive members of the Board.
Section 5 requires the Board to approve the staffing pattern for the Institute.
Section 5 requires the Board to promulgate rules and regulations for discharge of its powers and functions and for internal operations of the Institute.
Section 5 gives the Chairman of the Board of Trustees the power to appoint, promote, discipline, or remove Institute personnel.
Section 5 requires the Board to manage financial affairs and approve an annual budget of receipts and expenditures according to Institute requirements.
Section 5 requires the Board to monitor and review periodically the Institute’s programs and projects.
Section 6 designates the President of the Institute as the executive officer.
Section 6 provides that the President’s salary and remuneration are determined by the Board.
Section 6 requires the President to prepare the staffing pattern for Board approval, including qualifications and determination of number and compensation of officials and personnel needed.
Section 6 requires the President to exercise control and supervision over personnel, staff, operations, and internal administration, consistent with existing laws and Board rules.
Section 6 requires the President to recommend policies and measures to the Board for effective exercise of the Institute’s powers and responsibilities.
Section 6 requires the President to submit an annual report to the Board covering operations, status of programs funded, financial condition of the Institute, and a recommendation for the next year’s budget.
Research fellows fees authority
- Section 7 authorizes the Institute, despite any contrary provision of law, rule, or regulation, to engage researchers and other professional staff from other government offices and agencies to conduct specialized studies and research for the Institute.
- Section 7 requires that those engaged receive appointments as Researchers Fellows or Research Associates.
- Section 7 authorizes payment of fees determined by the Board in addition to the compensation or emoluments the appointees already receive in their respective mother offices or agencies.
Research Advisory Committee establishment
- Section 8 establishes a Research Advisory Committee composed of well-known personalities in research relevant to national development, and it may include foreign scholars.
- Section 8 requires the Board to set up the Committee.
- Section 8 requires the Committee to advise the Board on selection and the design of methodology of research projects.
- Section 8 requires the Committee to evaluate, announce, and publish major research studies.
- Section 8 requires the Committee to advise on other research activities needed to meet national development needs.
Endowment Fund and initial appropriation
- Section 9 establishes an Endowment Fund that is self-sustaining.
- Section 9 provides that the Endowment Fund consists of contributions, donations, grants, or loans from domestic and/or foreign sources, government subsidies, and other income from the Institute’s operations.
- Section 9 appropriates for the Institute’s initial organizational and operational requirements the amount of SEVEN MILLION PESOS (P7,000,000.00) from any fund in the National Treasury not otherwise appropriated.
- Section 9 requires that future operational activities be funded from the earnings of the Endowment Fund.
NEDA and agency research funding contributions
- Section 10 requires that the annual budget of NEDA include a sum determined by the NEDA Director General as its contribution to finance the Institute’s research activities.
- Section 10 authorizes other government agencies to include in their annual budgets necessary amounts as contributions to funding certain Institute research activities.
- Section 10 requires that these contributions be treated as distinct from the Endowment Fund and managed under a separate account.
- Section 10 requires the Institute to submit to the Director General of NEDA a work program with budget estimates for each calendar year not later than November 30 of the preceding year.
Tax exemptions for the Institute
- Section 11 provides that donation, contribution, bequest, subsidy, or financial aid made to the Institute is exempt from taxes of any kind and constitutes allowable deductions in full from the income of the donors or grantors for income tax purposes.
- Section 11 exempts the Institute and its assets, acquisitions, income, and operations and transactions from any and all taxes, fees, charges, imports, licenses and assessments, whether direct or indirect, imposed by the Republic of the Philippines or any of its political subdivisions.