Definition of terms.
Section 2
SEC. 2. Definition of terms.—As used in this Decree, the following terms are defined as follows: "Ministry" shall mean the Ministry of Agriculture and Food. "BOARD" shall mean the Board of Investments. "Agriculture" shall cover the subsectors of crops, tree farming, poultry and livestock, and fisheries. "Committee" shall mean the Inter-Agency Committee. "Indigenous Materials'' shall mean raw materials grown and/or produced in the Philippines. "GENETIC MATERIALS" shall mean livestock breeds, : crop varieties, and fishery species. "FARMERS GROUP" shall mean formal organizations registered with the government. "CROP ZONIFICATION" shall mean geographical delineation of suitable area for the production of specific crops based on the following criteria: soil and climate conditions; infrastructure and support services; and local and external demands within specific periods of time. "RATE OF PREFERENCE" shall mean the level or extent of incentive accorded to a particular agricultural activity. "STATUS OR PREFERENCE" shall mean the priority category, i.e. First, Second or Third of a particular agricultural activity. "AGRICULTURAL PRODUCTION" shall mean raising, growing and rearing of crops, livestock and fisheries for food, feed and as raw materials. "IDLE LANDS" shall mean lands suitable for agricultural production but are uncultivated or not devoted to such use. "TAX CREDIT" shall mean any of the credits against taxes and /or duties paid or would have been paid' or based on a percentage of gross sales extended to a registered agricultural enterprise by this Decree to evidence which a tax credit certificate shall be issued by the Board. The tax credit certificate shall be negotiable with the following creditors of the registered agricultural enterprises: Fertilizer and chemical producers registered with the Fertilizer and Pesticide Authority; Seed producers registered with the National Food and Agriculture Council; and Board registered enterprises. The tax credit certificate issued in favor of a registered agricultural enterprise under this Decree may be used or applied against any or all tax liabilities to the National Government. "Registered Agricultural Producer and/or Enterprise" shall mean any person or entity which has the qualifications prescribed in Sec. 20 hereof and which registers with the Board. "Measured Capacity" shall mean the estimated additional volume of production or service which the Board determines to be desirable in each preferred area of investment in order to supply the needs of the economy at reasonable prices. "Contract Growing" shall mean a system by which individuals, corporations, partnerships or other entities registered under this Decree contract to grow their raw material requirements with small farmers and provide financial, technical as well as other forms of assistance.