Objectives and Purposes
- Conduct scientific research on coconut botany, genetics, agronomy, diseases (including "kadang-kadang"), and insect pest control.
- Compile and disseminate scientific and technological information related to coconuts.
- Provide training to support the development of the coconut industry.
Corporate Powers
- PHILCORIN has perpetual succession with the capacity to sue and be sued.
- It can contract, hold property, receive donations, adopt a seal, and enact by-laws, rules, and regulations.
- Empowered to perform acts necessary to fulfill its mandate under the Act.
Specific Powers and Functions
- Establish and operate a central research center and satellite stations nationwide.
- Procure necessary materials, supplies, and equipment for its research activities.
- Organize and participate in scientific seminars, conventions, and conferences.
- Solicit, receive, and disburse grants, donations, and bequests to further coconut research.
- Secure and exploit patents arising from its inventions or discoveries.
Board of Trustees Composition
- The Board includes key officials: Chairman of the National Science Development Board (Chairman), Chairman of the Philippine Coconut Administration, Dean of U.P. College of Agriculture, Director of Bureau of Plant Industry.
- Includes one appointed scientist serving a three-year term.
- Includes private sector representatives: two coconut growers, one manufacturer/processor, and one exporter.
- Terms vary initially but generally set to two years, with appointments linked to donor contributions from respective sectors.
- Vice-Chairman elected from private sector representatives.
- Foreign representatives may advise but cannot vote.
Powers and Duties of the Board of Trustees
- Formulate plans, programs, policies, rules, and procedures for PHILCORIN’s effective operation.
- Administer funds appropriated by law and manage gifts, legacies, and donations.
Compensation for Board Members
- Members receive a per diem of Php 50 per session, capped at Php 200 per month.
Management and Qualifications of the Director
- The Director is appointed by the Board of Trustees.
- Must hold at least a Master of Science degree in plant science or related field and have five years’ research/management experience.
Powers and Duties of the Director
- Manage research activities and business operations per Board policies.
- Attend Board meetings and participate without vote.
- Submit an annual report within 60 days after fiscal year-end.
- Execute additional tasks assigned by the Board.
Tax Exemptions
- All PHILCORIN transactions, including importations, are exempt from taxes.
- Donations to PHILCORIN are allowable deductions against the donor’s income tax.
Appointment of Personnel
- The Chairman appoints personnel based on the Director’s recommendations and Board approval.
Exemption from Wage and Position Classification
- All officials and employees, except clerical and janitorial staff, are exempt from wage and position classification laws.
Appropriations and Funding
- Php 1.6 million annually for the first five years, then Php 1 million yearly thereafter, appropriated from the National Treasury.
- Funds cover operations, research facilities, construction, maintenance, equipment, and improvements.
Philippine Coconut Research Fund
- Income, donations, grants, and unexpended balances form a fiduciary fund.
- Fund utilization requires Board of Trustees’ approval, overriding conflicting laws.
Repealing Provisions
- Inconsistent laws, orders, and regulations are repealed or modified to conform to this Act.
Effectivity
- The Act takes effect immediately upon approval, June 18, 1964.