Section 2
SEC. 2. Section 2-A of the same law is hereby amended to read as follows: "SEC. 2-A. Capital Stock of the System.—The System is hereby authorized a capital stock of Three Billion Pesos (P3,000,000,000) divided into thirty million shares at a par value of One Hundred Pesos (P100.00) each, which shares shall not be transferred, negotiated, pledged, mortgaged or otherwise given as security for the payment of any obligation. The sum of Four Hundred ninety-One Million, Six Hundred Twelve Thousand, Six Hundred Sixty Seven Pesos and Ten Centavos (P491,612,667.10) which as of June 30, 1977 has already been subscribed and fully paid for by the Government of the Republic of the Philippines in accordance with the provision of Presidential Decree No. 425, shall be the initial paid-in capital of the authorized capital stock provided herein. The remaining Two Billion Five Hundred Eight Million, Three Hundred Eighty-Seven Thousand, Three Hundred Thirty-Two Pesos and Ninety Centavos (P2,508,387,332.90) shall be subscribed by the Government of the Republic of the Philippines and paid as follows: The sun of Fifty Million, Eight Hundred Twenty-Four Thousand Pesos (P50,824,000.00) representing the remaining unpaid amount of the System to the National Treasury for advances for the payment of amortization and interest on the System's loan to the World Bank, shall be additional paid-in subscription of the Government of the Republic of the Philippines for five hundred eight thousand, two hundred forty shares of stock of said capital stock. Whatever balance remaining of said subscription shall be paid from a continuing appropriation which is hereby made out of any funds in the National Treasury not otherwise appropriated be they collections from any or all taxes accruing to the General Fund or proceeds from loans, the issuance of bonds, treasury bills or notes which are hereby authorized to be incurred or to be issued by the Secretary of Finance for the purpose, such annual appropriation to be programmed and released in accordance with pertinent budget laws: Provided, That, this continuing appropriation shall remain in force until the balance of the unpaid subscription of the government to the capital stock of the System have been paid in full."