Section 2
SECTION 2. In consideration of the financial assistance to be extended by the Government Service Insurance System pursuant to Section 1 hereof, all lands already reclaimed as described in Presidential Decree No. 634, or to be reclaimed by the Manila International Port Terminals Inc., either singly or jointly with the Department of Public Works, Transportation and Communications, or other entities, together with the resulting foreshore areas, irrespective of the sources of funding, shall be conveyed, transferred, and ceded to the Government Service Insurance System as additional contribution of the National Government to augment the actuarial solvency of the Retirement Insurance Fund. For this purpose, the foreshore lands to be reclaimed shall be reclassified as industrial lands.