SECTION 5. Powers and Functions of the Corporation. — The Corporation shall have the following powers and functions:
a. To manufacture, store, distribute, transport, purchase, or sell all types of fertilizers and agricultural chemicals, their raw materials, by- products and derivatives;
b. To purchase, own, hold, lease and dispose of all types of property, real, personal or mixed, essential for carrying out its functions;
c. To enter into all types of contracts, with or without public bidding, with any person or entity, domestic or foreign, and with governments for its fertilizer operations including the acquisition by way of purchase, lease or rent or other deferred payment arrangements of equipment, finished products and/or raw materials and supplies, as well as for services connected therewith under such terms and conditions as it may deem proper and reasonable;
d. To borrow, raise, or obtain funds to support or carry out its objects and purpose and/or to arrange financing or equipment credit or any kind of financial or material assistance from private or governmental sources or from international public or private lending institutions and to secure any or all of the same, to the extent that may be required, by any lawful guaranty or counter-guaranty, by pledge, mortgage, or deed of trust, or by creating or suffering to exist a charge, lien, or encumbrance, and likewise by similar guarantees, pledges, mortgages, liens and other security arrangements to secure the performance by the Corporation or any obligation or liability it may undertake for itself or for other companies or enterprises in which it may be interested;
e. To engage in export and import of fertilizers and agricultural chemicals, as well as their raw materials, by-products, and derivatives;
f. To build, make, construct, maintain, purchase, sell, charter, deal in and with, own, lease, pledge, and otherwise dispose of all modes of transportation, together with all components, tools, machinery and appliances appurtenant thereto, as are utilized in the transport of fertilizers and agricultural chemicals, including their raw materials, by-products and derivatives, whether such transportation be by air, land or sea;
g. To promote, organize and re-organize whenever warranted, and to collaborate and associate in joint venture with any person, association, company or entity, whether domestic or foreign, in the fields of fertilizer and agricultural chemical production, marketing, procurement, shipping, financing and such other related businesses;
h. To provide technical, advisory, consultancy and management services in the field of fertilizer and agricultural chemical operations;
i. To undertake all the appropriate studies necessary to expand Philippine fertilizer and agricultural chemical production;
j. To apply for, register, purchase or otherwise acquire, or obtain a lien on or interest in any patent rights, licenses, designs, processes, trademarks, tradenames, distinctive marks, inventions and improvements thereof, and concessions which may appear likely to be advantageous or useful to the Corporation;
k. To use, exercise, or otherwise turn to account said property rights, and to enter into patent licensing, technical assistance, or other know-how and data or process feedback agreements, including the use of computers, as the case may be related to or necessary or appropriate to carry out the objectives and purposes of the Corporation;
l. Subject to existing regulations, and if deemed necessary, to establish and maintain such communication system, whether by radio, telegraph or any other manner, without the need of a separate franchise therefor;
m. To exercise the right of eminent domain, in order to attain the purposes for which the Corporation is created;
n. Subject to payment of the proper amount, to enter private lands for the purpose of conducting studies or exploitation of potential sources of raw materials for fertilizers and agricultural chemicals;
o. To hold lands and acquire rights over mineral lands in excess of the areas permitted to private corporations, associations and persons by statute;
p. To acquire by purchase, subscriptions, exchange, assignments, gift or otherwise, and to sell, assign, transfer, exchange, mortgage, pledge, and deal in and with, and otherwise, to enjoy and dispose of, any bonds, debentures, promissory notes, shares of capital stock and/or other securities and/or obligations created, negotiated or issued by any corporation, association, or other entity, foreign or domestic, and while the owner thereof, to exercise all the rights, power and privileges of ownership, including the right to receive, collect and dispose of; any and all dividends, interest and income derived therefrom and the right to vote on any shares of the capital stock, and upon any bonds, debentures and/or other securities, having voting power so owned;
q. To invest and deal with the funds of the Corporation in such manner as may be deemed proper including the organization and incorporation of subsidiaries, in order not to make such funds idle and unproductive and to achieve their full utilization for the principal objects and purposes for which the Corporation has been organized;
r. To pay for any property or rights or services obtained by the Corporation either in cash, shares, or other securities of the Corporation, or partly in cash and partly in shares or other securities, under such terms and conditions as its Board of Directors shall determine to be reasonable;
s. To determine its organizational structure, including the number and salaries of its officers and employees;
t. To adopt, amend and repeal its Code of By- Laws, rules and regulations governing the manner in which the general business of the Corporation may be exercised, including provisions for the formation of such committee or committees as the Board may deem necessary to facilitate its business;
u. To receive any grant, subsidy, donation or contribution from any entity, whether private or governmental, private or public;
v. To adopt, alter and use a corporate seal which shall be judicially noticed;
w. To sue and be sued; and
x. Generally, to do and perform any and all acts, and to exercise any and all powers as may be necessary to carry into effect the provisions of this Decree, or as may be essential to the proper conduct of its operations, or as may be conducive to the attainment of its corporate purposes and objectives.
