Section 3
SEC. 3. The National Grains Authority may authorize the alien or business organization mentioned in Section 1 hereof to engage in the rice and/or corn industry, subject to the following conditions: a. The National Grains Authority shall certify that there is an urgent need for foreign investment in the undertaking and that the same will not pose a clear and present danger of promoting monopolies or combinations in restrain of trade. b. The alien, association, corporation or partnership shall have the necessary financial capability and technical competence. c. The alien, association, corporation or partnership shall submit a development plan acceptable to the National Grains Authority.