Applicablility to Existing Tourism Enterprises.
Section 14
SEC. 14. Applicablility to Existing Tourism Enterprises. — An enterprise which satisfies the requirements for registration specified herein, which at the time of promulgation of this Decree has not been registered under Republic Act No. 6135, shall be entitled to registration under this Decree as to its existing capacity. Similarly, an investor in such an existing enterprise shall be entitled to benefits and incentives to the extent of his present investment: Provided, That the application is filed while the area is still in the Tourism Priorities Plan: Provided, further, That the benefits of this Decree, so far as may lie applicable to such existing enterprises, shall be given prospective effect only from the date of registration: Provided, furthermore, That the incentives applicable shall only be those covered by Section 8 (a), for a period of 5 years after registration,