Section 3
SEC. 3. Section 3(g) and (1), fourth paragraph, of the same Decree are hereby amended to read as follows: "SECTION 3(g) x x x. To manage and operate a public transport system or public services within Metropolitan Manila in accordance with the above-stated policy objectives: Provided, That whenever authorized by the President of the Philippines, it may extend its area of operation anywhere in the Philippines: And, provided further, That such authority is not necessary when the extension of its operation outside Metropolitan Manila is for the purpose of protecting its business interests." "SECTION 3(i) x x x. The loans, credits and indebtedness contracted under this subsection and the payment of the principal, interest and other charges thereon, as well as the importation of machineries, equipment, materials, supply and services, by the Corporation, paid from the proceeds of any loan, credit or indebtedness incurred under this act, or from its own funds, shall also be exempt from all direct and indirect taxes, fees, imposts and other charges and restrictions, including import restrictions previously and presently imposed, and to be imposed by the Republic of the Philippines, or any of its agencies and political subdivisions."