Section 9
SEC. 9. Subsection (b) of Section 6 of Republic Act Numbered Sixty-one hundred thirty-five is hereby amended to read as follows: "(b) To be entitled to registration, an applicant must satisfy the Board that (1) he is a citizen of the Philippines, in case the applicant is a natural person, or in case of a partnership or any other association, it is organized under Philippine laws and that at least sixty per cent (60%) of its capital is owned and controlled by citizens of the Philippines; or in case of a corporation or a cooperative, it is organized under Philippine laws and that at least sixty per cent (60%) of the capital stock outstanding and entitled to vote is owned and held by Philippine Nationals as defined under Section 3(f) of R.A. 5186, and at least sixty per cent (60%) of the members of the Board of Directors are citizens of the Philippines; (2) that it is engaged or proposes to engage in manufacturing, processing or exporting export products listed in the export priorities plan or tourism priorities, plan, or if not so listed in the export priorities plan, that at least fifty per cent (50%) of its sales are exports sales; or in case of a service exporter, that it is engaged or proposes to engage in rendering services payable in foreign currency, providing services to foreign tourists and foreign travelers in areas within the Tourism Priorities Plan and subject to the guidelines prepared by the Philippine Tourist Commission and the Board, or in exporting television or motion pictures or musical recordings produced or made in the Philippines; (3) that it is not engaged and will not engage in any of the activities reserved by the Constitution or the laws of the Philippines to Filipino citizens or corporations owned and controlled by Filipino citizens unless and until the applicant can fulfill the requirements of the Constitution or said laws; and (4) that if the applicant is engaged or proposes to engage in activities other than the manufacture, processing and exportation of export products, or in rendering services other than export services, it has installed or undertakes to install an adequate accounting system to segregate the investments, revenues, sales, receipts, purchases, payrolls, costs, expenses, and profits and losses of its export operations from those of its domestic operations: Provided, That in the case of: (i) a pioneer enterprise herein registered as defined under Section 3 (h) of Republic Act Numbered Fifty-one hundred eighty-six, (ii) a service exporter primarily engaged in the business of catering to foreign tourists and foreign travelers, and (iii) an export producer seventy per cent (70%) of whose total production is to be exported, the nationality requirement shall be in accordance with Section Nineteen of the said Act instead of Section Six, paragraph (b) of this Act: Provided, further, That in the latter case, the Board may increase the seventy per cent (70%) export requirement in the event of an adverse effect on the domestic producers of the export product: Provided, furthermore, That upon receipt of the application for registration, the Board shall, within thirty (30) days, notify the applicant of all pertinent requirements not complied with: And provided, finally, That the Board of Investments shall act on said application within ninety (90) days after submission thereof."