Section 4
SEC. 4. Exclusions from coverage. The following corporations are not covered by this Decree: (a) acquired assets corporations and (b) affiliate corporations; Provided, that nothing in this Section shall be construed as an automatic exemption of this corporations from compliance with reportorial requirements, which reports however when required shall be coursed through the appropriate parents corporations; and Provided, further, that where so required the fanancial statements of the acquired assets and appropriate affiliate corporations shall be consolidated with the financial statements of the parent corporation, together with its subsidiaries. Chartered universities, colleges, and schools, as well as municipal corporations, which are nonetheless government corporations, are likewise not covered by this Decree.