Council leadership and authorization powers
- Section 1 requires the President to designate a chairman of the Council.
- Section 1 empowers the Council to employ counsel and other officers and employees it considers necessary to plan the national economy.
- Section 1 allows the Council, with the approval of the President, to authorize any member, officer, or employee to visit the United States or foreign countries to obtain information needed for the Council’s work.
Compensation, salaries, and expenses
- Section 2 provides that the compensation of the Council members is fixed by the President.
- Section 2 provides that the salaries of the Council’s officers and employees and other expenses are determined by resolution of the Council, subject to the approval of the President.
Appropriations for Council expenses
- Section 3 appropriates one hundred fifty thousand pesos for the expenses of the National Economic Council.
- The appropriation is taken from any funds in the Philippine Treasury not otherwise appropriated.
Effectivity
- Section 4 provides that the Act takes effect on its approval.
- The Act is Approved, December 23, 1935.