Creation of the PHIVIDEC Industrial Authority.
Section 2
SEC. 2. Creation of the PHIVIDEC Industrial Authority. — To carry out the above policy, a body corporate to be known as the PHIVIDEC Industrial Authority is hereby created. The Authority as hereinafter referred to shall be a subsidiary of the PHILIPPINE VETERANS INVESTMENT DEVELOPMENT CORPORATION created under PD 243, as amended by PD 853. The functions of the Authority are hereby declared governmental and proprietary.