Section 6. Working Arrangements. —

For the attainment of the objectives of this Decree, an Education Special Committee, composed of the Secretary of Education and Culture as Chairman and the Secretary of Finance and the Commissioner of the Budget as members, if hereby created which shall:

1. Approve and evaluate the specific projects, endorsed to it by the National Board of Education, to be financed out of the resources provided for in this Decree; and

2. Administer the Educational Institutions Development Fund as hereinafter provided, except that the resources accruing into the Fund shall be managed by reputable fund managers or financial institutions.

The National Board of Education, as reorganized pursuant to Presidential Decree No. 1 dated September 24, 1972, shall, in addition to its functions, perform the following:

1. Formulate education objectives and policies consistent with those enunciated in Section 2 hereof; and

2. Provide policy guidelines in the administration of the assistance and incentive programs provided for in Section 5(g) hereof, which shall include a system of educational priorities consistent with national, regional and/or local requirements for education and skills training, and such other procedures and requirements as will ensure the continual upgrading of the quality of education, the rationalization and institutional growth, and the democratization of access to education.

In the discharge of its functions, the National Board of Education shall be assisted by an office of planning and research known as Planning Service in the Department of Education and Culture.