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SEC. 10. Section 9 of the same Act, as amended, is hereby
renumbered as Section 8 and amended to read as follows:
"SEC. 8. Designation of the Bureau of Micro, Small and
Medium Enterprise Development as Council Secretariat. -- The
Bureau of Small
and Medium Business Development (BSMBD)
hereinafter referred to as the Bureau of Micro, Small and Medium
Enterprise Development (BMSMED) is hereby designated to act as
the Council Secretariat and shall have the following duties and
functions:
"xxx"
SEC. 11. A new section is hereby inserted after Section 9 of the
same Act, as amended, and numbered as Section 9 to read as follows:
"SEC. 9. Appropriations. -- To finance its activities and
operational expenses, the Council shall have a separate annual
appropriation approved by the Department of Trade and Industry (DTI)
which shall be provided in the General Apropriations Act starting in
the fiscal year immediately following the approval of this Act. The
Council may also accept contributions from the private sector."
SEC. 12. Section 10 of the same Act, as amended, is hereby further
amended to read as follows:
"SEC. 10. Rationalization of Existing MSME Programs and
Agencies. - The MSMED Council shall conduct continuing review of
government programs for MSMEs and submit to Congress and the
President a report thereon together with its policy recommendations."
SEC. 13. Section 11 of the same Act, as amended, is hereby further
amended to read as follows:
"SEC. 11. Creation of Small Business Guarantee and Finance
Corporation. -- There is hereby created a body corporate to be known
as the Small Busmess Guarantee and Finance Corporation,
hereinafter referred to as the Small Business Corporation (SB
Corporation), which shall be charged with the primary responsibility
of implementing comprehensive policies and programs to assist
MSMEs in all areas, including but not limited to finance and information
services, training and marketing."