Section 12
SEC. 12. Deposit of government funds for research activities. Grants of financial assistance made by PCARR for researches in agriculture, forestry, fisheries, and mineral resources, except petroleum, and other mineral oils, pursuant to Presidential Decree No. 43, as amended, NSDB for industrial and other research areas, may be released to the researchers and deposited with the Philippine National Bank or its branches or with rural banks or other private commercial banks where there are no branches of the Philippine National Banks or rural banks nearest the locale of the research projects.