SEC. 3. Section 2 of the same Decree is hereby amended to
read as follows:
“SEC. 2. The purposes and powers of the Corporation are:
“a. To engage in any commercial, industrial, mining,
agricultural and other enterprises which may be necessary or
contributory to the economic development of the country, or important in
the public interest, or which will promote the well-being of the
veterans and retirees of the Armed Forces of the Philippines;
“b. To invest in, purchase or otherwise acquire, own, hold, use,
operate, sell, assign, transfer, exchange, mortgage, pledge, lease,
develop and otherwise deal in real estate and natural resource projects
or any interest therein, and personal property of every kind and
description, including shares of stock, bonds, debentures, notes,
evidences of indebtedness, and other securities or obligations of any
other corporation or corporations, association or associations, domestic
or foreign, and for this purpose, it may acquire, lease or hold private
lands and public lands of any classification notwithstanding the
prohibitions in, or in excess of the areas permitted by the laws of the
Philippines;
“c. To provide a medium (1) for assisting Government and private
initiative in encouraging and/or promoting the establishment, operation,
expansion or reorganization of productive enterprises; (2) for
facilitating the formation of capital and the free flow of commercial
papers, securities, government bonds, and other evidence of indebtedness
in the capital and money markets and acting for this purpose as
underwriter, dealer and agent of commercial papers, securities,
government bonds and other evidence of indebtedness issued by government
institutions, agencies, subdivisions or instrumentalities, commercial,
industrial, or agricultural organizations, and other forms of business
ventures or organizations; (3) for rendering or promoting the rendering
of sound financial, economic and other technical advice to new
enterprises or assisting governmental or private entities; and (4) for
mobilizing the requisite manpower pool and the information gathering,
retrieval and distribution system that will adequately and efficiently
service the demands of Government, investors and business clients.
“d. To act as general or operating managers, representatives, or
agents of industrial, manufacturing and mercantile concerns of whatever
kind or nature, and to engage in the promotion, assistance,
encouragement, development, and expansion of any lawful business,
industry or trade by means of, among others, scientific advancement of
methods, systems or techniques of operations, management, financing,
investment, labor, conducting research Studies, tests, experiments for
the processes of commercial and industrial products and formulating and
implementing plans for the marketing thereof;
“e. To enter into any lawful arrangement for sharing profits, joint
venture, union, interests, reciprocal concession or cooperation with any
person, or corporation, association, partnership, syndicate or entity
located in or organized under the laws of any authority in any part of
the world in the carrying on of any business which the Corporation is
authorized to carry on, or any business or transaction deemed necessary,
convenient or incidental to the carrying on of the purpose of the
Corporation;
“f. To obtain funds to support or carry out its objects and purposes
and/or to arrange financial or equipment credit, or any kind of
assistance for its own account or for the account, of its clients in
such manner as the Board of Directors of the Corporation may deem
reasonable from governmental or private sources in the Philippines or
elsewhere or from international, public or private lending institutions,
and to secure any or all of the same by any guarantee or
counter-guarantee, by pledge, mortgage, deed of trust, or assignment of
the property of the Corporation, or by creating or suffering to exist a
charge, lien, or encumbrance, general or special, upon its assets, for
the purpose of securing the performance by the Corporation of any
obligation or liability it may undertake for itself or for other
companies or enterprises in which it may be interested:
“g. To purchase, hold, accept, or otherwise acquire by merger,
consolidation or other methods of combination, the whole or any part of
the property, assets, business, goodwill, rights, privileges and
franchises of all kinds and to undertake or assume the whole or any part
of the liabilities and obligations of any person, firm, association or
corporation, and to pay for the same or any part or combination thereof
in cash, stocks, bonds, debentures, notes or other securities of this
Corporation or otherwise, or by undertaking or assuming the whole or any
part of the liabilities or obligations of the transferor, and to hold
or in any manner dispose of the whole or any part of the property and
assets so acquired, accepted or purchased, and to conduct in any lawful
manner the whole or any part of the business so acquired and to exercise
all the powers necessary or convenient in and about the conduct,
management and carrying on of such business;
“h. To apply for, register, purchase or otherwise acquire, use, protect
and renew any patents, patent rights, licenses, concessions, trademarks,
tradenames, inventions, formulas and processes used or capable of being
used in connection with any of the business of the Corporation the
acquisition of which may directly or indirectly benefit the Corporation,
and to use, exercise, develop, sell, assign, or otherwise dispose of,
or grant licenses in respect of, the property, rights, trademarks or
other information so acquired, and to spend money in experimenting upon,
and testing and improving, any patents, inventions or rights which the
Corporation may acquire or propose to acquire;
“i. The Corporation shall have the power to make, perform and carry out
contracts of every sort and kind, and particularly, but not by way of
limitation, to make and perform contracts creating any of the property,
real or personal, owned by the Corporation; to organize, manage and
operate subsidiary or affiliate companies; to establish and/or maintain
one or more offices or branches in other parts of the Philippines or
abroad, and to conduct its business and exercise its powers in any part
of the Philippines or in any other country, slate or territory; and in
carrying on its business, to do any and all acts and things and to
exercise all powers which may be necessary or convenient to the
accomplishment or furtherance of its business or which a natural person
could do and exercise and which may now or hereafter be authorized by
law."
