Section 2
SEC. 2. Powers of the Corporation. In order to accomplish the foregoing corporate purposes, the Corporation shall be vested with the following powers: 1. To prepare the corporate by-laws; 2. To carry on any other lawful business whatsoever in pursuance of or in connection with the foregoing primary purposes; 3. To enter into, make and perform and carry out contracts of every kind and description for the foregoing corporate purposes with any person, firm, association or corporation; to have one or more officers in and outside of the Philippines, and to conduct its business and exercise its powers throughout and in any part of the Republic of the Philippines and/or in any and all foreign countries, states and territories; 4. To hold public agricultural lands and mineral lands in excess of the areas permitted to private corporations, associations and persons by the laws of the Philippines for a period not exceeding twenty-five years, renewable by the President of the Philippines for another twenty-five years. 5. To acquire, hold, mortgage and alienate personal and real property in the Philippines or elsewhere; 6. To purchase, hold, alienate, mortgage, pledge or otherwise dispose of the shares of the capital stock of, or any bond, security, of other corporations or associations of this or any other country; and while the owner of said stock to exercise all the rights of ownership, including the right to vote thereon; 7. To execute any and all acts which a partnership or a natural person is authorized to perform under the laws now existing or which may hereafter be enacted; and 8. To perform such other acts as it may deem appropriate for the proper enforcement of this Decree.