Section 1
SECTION 1. The President of the Philippines shall continue to exercise, as provided in Section 1 of Presidential Decree No. 1677-A, the power to review all contracts, concessions, permits and other forms of privilege for the exploration, development, exploitation or utilization of natural resources; all franchises for public utilities; foreign exchange borrowings converted into pesos, otherwise known as swaps; Central Bank rediscounting arrangements; titles to land; construction and architectural design contracts; and other forms of contract entered into by the government or any of its subdivisions, agencies or instrumentalities, including government-owned or controlled corporations.