Preamble
“SECTION 1. Assignment of Duty. – The administration, management, and ownership of that parcel of land of the public domain located at Lamao, Limay, Bataan which is reserved for industrial estate purposes and more particularly described in Presidential Proclamation No. 361 dated March 6, 1968 as amended by Proclamation No. 630 dated November 29, 1969, subject to private rights, if any, which shall be the subject of expropriation, is hereby transferred to the Philippine National Oil Company (PNOC) in full and absolute ownership for the nominal sum of One Peso: Provided, That, all locators, lessees and sub-lessees, now operating therein shall be allowed to continue with its usual business operations, transactions and activities as authorized by law subject to such rules and regulations as PNOC may prescribe. The Bureau of Lands shall survey and fix the permanent boundaries of the aforementioned parcel of land of the public domain.”