Section 1
SECTION 1. Section two of Act Numbered Twenty-seven hundred and five, entitled "An Act to create the National Coal Company," is hereby amended to read as follows: "SEC. 2. The said company shall be subject to the provisions of the Corporation Law in so far as they are not inconsistent with the provisions of this Act, and shall have the general powers mentioned in said Act and such other powers as may be necessary to enable it to prosecute the business of developing coal deposits in the Philippine Islands, and of mining, extracting, transporting, and selling the coal contained in said deposits. Said company shall have priority of rights as regards the cutting and utilization of forest products for its own use in any public forest, in accordance with the Forest Law and the regulations and instructions now in force or which may hereafter be issued with regard to the cutting, gathering, and transportation or forest products."