Section 2
SEC. 2. To enable the Center to effectively fulfill the above cited function and pursuant to other objectives express declared in its statutes, its shall: Assist in the organization, maintenance and operation of product testing facilities, whether organized as a separate foundation or not to carry out the activities of the Center related to review and enforcement of quality standards thru testing and inspection of manufactured metal products, machineries, equipment, appliances, and their accessories and parts. Obtain funds from government or private sources in the Philippines or elsewhere or from international public or private lending institutions, to support or carry out its purposes and/or to arrange financing of equipment or other credit facilities, or secure any kind of assistance for its own account or for the account of its clients in such manner and under such terms as the Board of Trustees of the Center may deem reasonable. Apply for, register, purchase or otherwise acquire, use, protect and renew any patents, patent rights, licenses, concessions, trademarks, trade-names, inventions, formulas and processes used or capable of being used in connection with any of the functions/activities of the Center, the acquisition of which may directly or indirectly benefit the Center and to use, exercise, develop, sell, assign, or otherwise dispose of, or grant licenses in respect of the property, rights, trademarks, or other information so acquired, and to disburse money in experimenting upon, testing arid improving any patents, inventions or rights which the Center may acquire or propose to acquire. Organize, manage and operate subsidiaries, stock or non-stock, solely or in joint venture with the private-sector, to undertake any of the activities of the Center as authorized by its Charter and this Decree. Provided, that the subsidiaries of the MIRDC, created and registered with the Securities end Exchange Commission shall be entitled to all the incentives and privileges granted by law to private enterprises engaged in business activities. Secure its own obligations and those incurred by its subsidiaries. Contract loans, issue bonds and other obligation as security therefore, and for property purchased or acquired by it, or for any object in or about its business. Compromise, remit or condone claims arising from contract expressed or implied, or from any other source. Invest its Corporate Fund, as it may deem proper and necessary.