Section 2
SEC. 2. Section 105(y) of the Tariff and Customs Code, as amended, is hereby further amended to read as follows: "Y. Trailer chassis when imported by shipping companies for their exclusive use in handling containerized cargo, upon posting a bond in an amount equal to one and one-half times the ascertained duties, taxes and other charges due thereon to cover a period of one year from the date of acceptance of the entry, which period for meritorious reasons may be extended by the commissioner of Customs from year to year, subject to the following conditions: That they shall be properly identified and registered with the Land Transportation Commission; That they shall be subject to customs supervision fee to be fixed by the Collector of Customs and subject to the approval of the Commissioner of Customs; That they shall be deposited in the Customs zone when not in use; and That upon the expiration of the period prescribed above, duties and taxes shall be paid, unless otherwise re-exported."