(3) After due hearing, decide controversies concerning the implementation of the relevant provisions of the Regional Investments & Incentives Code that may arise between registered enterprises or investors therein and government agencies, within thirty (30) days after the controversy has been submitted for decision; Provided, That the investor or the registered enterprise may appeal the decision of the Board within thirty (30) days from receipt thereof to the Regional Governor for decision. The Board shall have the power to subpoena witnesses, administer oaths, and compel the production of books, papers, and other evidences, and to cite for contempt any person/organization that fails to comply with the aforestated processes. Provided, further, That the Board may grant immunity from prosecution to any person whose testimony or documents or other evidence is necessary or relevant to determine such truth in any investigation; (4) Recommend to the Commissioner of Immigration and Deportation the entry into the Philippines for employment of foreign national under the Regional Investments & Incentives Code; (5) Periodically check and verify, either by inspection of the books or by requiring regular reports, the proportion of the participation of Philippine nationals in a registered enterprise to ascertain compliance with its qualification to retain registration under the Regional Investments & Incentives Code; (6) Verify annually the compliance by registered enterprises with the relevant provisions of the Regional Investments & Incentives Code, its rules and regulations and the terms and conditions of registration; (7) After due notice and hearing, cancel the registration or suspend the enjoyment of incentives benefits of any registered enterprise and/or require refund of incentives enjoyed by such enterprise including interest and monetary penalties, and levy properties of the registered enterprise, if appropriate, or (a) failure to maintain the qualifications required by Regional Investments & Incentives Code for registration with the Board or (b) for violation of any provisions of Regional Investments & Incentives Code, its rules and regulations and the terms and conditions of registration. Provided, that the registration of an enterprise whose project timetable, as set by the Board is delayed by one year, shall be considered automatically cancelled unless otherwise reinstated as a registered enterprise by the Board; (8) Determine the new organizational structure as provided in the Regional Investments & Incentives Code; appoint, discipline and remove its personnel consistent with existing Civil Service Law, Rules and Regulations; (9) Prepare feasibility and other pre-investment studies, either upon its own initiative; or upon the request of the investor under the terms and conditions mutually agreed upon; (10) Grant, special incentives provided to registered enterprises that list their shares of stock in the Philippine Stock Exchange or directly offer a portion of their capital stock to the public and/or their employees; 164

Select target paragraph3

Connect to a paragraph
Connect to an entity
Disable highlights
Add to table of contents