Section 10
SECTION 10. Cottage Industry — The term "Cottage Industry" shall mean a modest economic activity for profit using primarily indigenous raw materials in the production of various articles that generally involve craftsmanship, artistic skills and tradition of the country. Provided, however, that all cottage industries shall be owned and operated by Filipino citizens, or by corporations, partnerships, or cooperatives at least seventy-five percent (75%) of the capital investment of which shall be owned by Filipino citizens. Provided, further, that the total assets of which shell not exceed one hundred thousand pesos (100,000.00) at the time of registration with the NACIDA. Provided, finally, that the maximum total assets allowable for cottage industries for purposes of registration may be modified and/or increased accordingly by the NACIDA Board subject to the approval of the President of the .Republic of the Philippines. For facility of implementation, coordination and statistical gathering cottage industries shall be classified as follows; Handicraft Industry — That sector requiring manual dexterity and artistic skills in the production of utility products, decorative articles and items of personal use that generally highlights traditional and artistic features typical of a country; Metalcraft Industry —The sector using metals or its alloys as principal raw materials component in producing articles such as brasswares, cutlery items, fabricated tools, implements and equipment and other items requiring a certain degree of craftsmanship in the making thereof including the making of jewelry items involving the use of metals and/or its alloys in combination with semiprecious or artificial stones; Furniture Industry — That sector producing articles such as beds, chairs, tables, shelves, stools, sofas, cabinets and other similar movable items for home and office use of whatever raw material component or a combination thereof including the use of upholstery materials; Garment Industry — That sector consisting of ready-made apparel of ready-to-wear garments including such related production activities like knitting, crocheting, embroidery, beadwork and the weaving of native clothing materials or fabrics; Ceramics Industry — That sector consisting of such products or articles such as potteries, hollow blocks, tiles, firebricks, clay stoves and other products using1 clay, cement and/or plaster of paris as raw material components; Food Processing Industry —That sector consisting: of products and/or food items arising from processing activities requiring knowledge or expertise on food technology and food preservation; Complementation Industry — That sector responsible for the production or manufacture of articles which complement, supplement or form part of a separate or incomplete article or sub-assembly to make it whole or complete and/or to replace missing or defective parts of tools, implements, equipment or assemblies including the manufacture or fabrication of component parts, machine parts, car parts, electronics and radio parts, watch components and others. The Board of Directors shall determine and issue more specific guidelines on the classification and categorization of any other craft whose product lines are produced on the level of cottage industries for the purposes of registration, invalidation, and/or accreditation.