Section 7
SEC. 7. The proceeds of the sugar trading operations of the Philippine Exchange Company, Inc. shall be used to pay its liabilities to the Philippine National Bank, or to the foreign creditors of the Philippine National Bank from whom financing has been obtained. The Philippine Exchange Company, Inc. shall charge a commission of two and one-half (2 1/2%) per cent of gross sales, of which one (1%) per cent shall cover all its overhead expenses and the balance of one and one-half (1 1/2%) per cent shall be set aside as a fund for the "Sugar Development Program" of the Philippine National Bank. After deducting its commission of two and one-half (2-1/2%) per cent of gross sales, the balance of the proceeds of sugar trading operations for every crop year shall be set aside by the Philippine Exchange Company, Inc. as profits which shall be paid to a special fund of the National Government subject to the disposition of the President for public purposes.