Capital Stock.
Section 7
SEC. 7. Capital Stock. — The Company shall have a capital stock divided into three (3) million no-par shares to be subscribed, paid for and be voted as follows: (a) Two (2) million shares of stock shall be originally subscribed and paid for by the Republic of the Philippines at an original issue value of P50 per share; and (b) The remaining one (1) million shares of stock may be subscribed and paid for by the Republic of the Philippines or by government financial institutions at values to be determined by the Board, but in no case less than the original issued value above stated to the Republic of the Philippines. The voting power pertaining to shares of stock subscribed by the Government of the Republic of the Philippines shall be vested in the President of the Philippines or in such person or persons as he may designate. The voting power pertaining to shares of stock subscribed by the government financial institutions shall be vested in them.