AN ACT GRANTING TO THE NATIONAL DEVELOPMENT COMPANY CERTAIN POWERS WITH REGARD TO PUBLIC LAND, MINES OR MINING CLAIMS, ANY LEGAL PROVISION TO THE CONTRARY NOTWITHSTANDING.

• Number: Act No. 2873
• Sections: 2

Section 1

SECTION 1. If, for the proper attainment of its purposes, the National Development Company should find it necessary to acquire, hold and manage, alienate or encumber lands, mines or mining claims in excess, of the limit as to area established by law, said company is hereby authorized to acquire, hold, manage, alienate, arid encumber such lands, mines or mining claims during a period of ten years from and after the date of their acquisition, possession, or administration, in order to prepare and facilitate the alienation or other disposal of the same. The Governor-General may, however, extend this time from year to year, whenever necessary in order to facilitate the sale or disposal of such agricultural lands, mines or mining claims, provided the total of such extensions shall not exceed ten years.

Section 2

SEC. 2. This Act shall take effect on its approval by the President of the United States, in accordance with section nine of the act commonly known as the Jones Law, entitled "An Act to declare the purpose of the people of the United States as to the future political status of the people of the Philippine Islands, and to provide a more autonomous government for those Islands."

Approved, November 24, 1919.