Cited Laws
Accordingly, the constitutionality of Section 14, Chapter 3, Title I-A, Book V of EO 292 is upheld. However, there is a need to determine further whether Duques designation as Board member of the GSIS, PHILHEALTH, ECC and HDMF is in accordance with the 1987 Constitution and the condition laid down in Section 14, Chapter 3, Title I-A, Book V of EO 292. It is necessary for this purpose to examine the functions of these government entities under their respective charters, to wit: The GSIS Charter, Republic Act No. 8291 SECTION 41. Powers and Functions of the GSIS . The GSIS shall exercise the following powers and functions: (a) to formulate, adopt, amend and/or rescind such rules and regulations as may be necessary to carry out the provisions and purposes of this Act, as well as the effective exercise of the powers and functions, and the discharge of duties and responsibilities of the GSIS, its officers and employees; (b) to adopt or approve the annual and supplemental budget of receipts and expenditures including salaries and allowances of the GSIS personnel; to authorize such capital and operating expenditures and disbursements of the GSIS as may be necessary and proper for the effective management and operation of the GSIS; (c) to invest the funds of the GSIS, directly or indirectly, in accordance with the provisions of this Act; (d) to acquire, utilize or dispose of, in any manner recognized by law, real or personal property in the Philippines or elsewhere necessary to carry out the purposes of this Act; (e) to conduct continuing actuarial and statistical studies and valuations to determine the financial condition of the GSIS and taking into consideration such studies and valuations and the limitations herein provided, re-adjust the benefits, contributions, premium rates, interest rates or the allocation or re-allocation of the funds to the contingencies covered; (f) to have the power of succession; (g) to sue and be sued; (h) to enter into, make, perform and carry out contracts of every kind and description with any person, firm or association or corporation, domestic or foreign; (i) to carry on any other lawful business whatsoever in pursuance of, or in connection with the provisions of this Act; (j) to have one or more offices in and outside of the Philippines, and to conduct its business and exercise its powers throughout and in any part of the Republic of the Philippines and/or in any or all foreign countries, states and territories: Provided, That the GSIS shall maintain a branch office in every province where there exists a minimum of fifteen thousand (15,000) membership; (k) to borrow funds from any source, private or government, foreign or domestic, only as an incident in the securitization of housing mortgages of the GSIS and on account of its receivables from any government or private entity; (l) to invest, own or otherwise participate in equity in any establishment, firm or entity; (m) to approve appointments in the GSIS except ap