Section 1
SECTION 1. In accordance with the agreement already arrived at between Asiatic Integrated Corporation and the Export Processing Zone, the franchise to construct, operate and maintain private piers and wharves in the Port of Mariveles granted to the Asiatic Integrated Corporation Under Republic Act Numbered Fifty Three Hundred and Fifty-six is hereby transferred to the Export Processing Zone Authority, on such terms and conditions as may be agreed upon by the parties, provided that the same are in conformity with provisions of existing laws and applicable to such transfer, and subject to the approval of the President of the Philippines. For this purpose, the Authority is hereby authorized to construct, acquire, own, lease, operate and or maintain, by itself or through other persons or entities, in the Port of Mariveles, Bataan, piers, wharves and other port terminal facilities.