Government fishery farms and experimental stations.
Section 74
SEC. 74. Government fishery farms and experimental stations.—The Secretary of Agriculture and Natural Resources is hereby authorized to establish, equip, operate and maintain fishery farms, experimental stations and other fishery projects in such places in the Philippine Islands as may be deemed appropriate therefor and beneficial to the fishing industry, for the purposes of studying, surveying, conserving, preserving and developing the fish, shell, sponge, and other aquatic resources of the Philippine Islands. Subject to the approval of the Governor-General, the Secretary of Agriculture and Natural Resources shall be authorized to sell to the highest bidder any fishery farm, experimental station, or fishery project operated under this Act, or to exchange any land or portion thereof, owned or reserved for or occupied by any fishery farm, experimental station or fishery project, for other more adequate or more desirable sites of private ownership or otherwise, under such terms and conditions as may be deemed advantageous to the Government. No transaction of sale or exchange herein authorized shall be made except with citizens of the United States or of the Philippine Islands, or with associations or corporations duly registered or incorporated under the laws of the Philippine Islands or of the United States or any State thereof and authorized to transact Business in the Philippine Islands and at least sixty-one per centum of whose capital stock or interest in said capital stock is owned wholly by citizens of the Philippine Islands or of the United States.