Specific and general powers.
Section 3
SEC. 3. Specific and general powers.—For carrying out the purposes mentioned in the preceding section, the FTA shall have the following powers: To establish, keep, maintain and operate such experiment stations and seed farms in any part of the Philippines as may be necessary to undertake extensive research In tobacco culture and curing, including studies on the feasibility of mechanizing tobacco farms, development of suitable tobacco varieties and strains suited for the different tobacco regions, control and eradication of tobacco pests and diseases, reduction of the cost of production, and the agronomical studies inherent with the culture of this crop; To establish, maintain and/or subsidize a chemical tobacco research laboratory for industrialization studies on processing, fermentation and aging to produce a quality leaf for the factories: Provided, That this phase of the work shall be under the care and supervision of the Institute of Science and Technology, which shall from time to time submit programs of studies to the PTA for approval and assignment of funds to carry out such program; To purchase, make or invent such machineries and materials, equipment and supplies as may be necessary to prosecute successfully its researches and experimental work; To expand and explore the domestic and foreign trades for tobacco leaves, tobacco products and by-products to assure mutual benefits to consumers and producers, and to promote and maintain a sufficient general production of tobacco leaves, tobacco products and by-products by an efficient coordination of the component elements of the tobacco industry of the Philippines; To buy, sell, assign, own, operate, rent or lease, subject to existing laws, machineries, equipment, materials, merchant vessels, rails, railroad lines and other equipment and materials necessary for the production, processing, manufacture, handling and transportation and warehousing of tobacco leaves, tobacco products and by-products; To grant loans and credits, on reasonable terms, to tobacco planters when it deems such loans advisable; To enter, make and execute contracts of any kind as may be necessary or incidental to the attainment of its purposes with any person, firm, or public or private corporation, with the government of the Philippines or of the United States, or of any state, or with any person therefrom, or with any foreign government with treaties with the government of the Philippines; To buy, process, and age, and sell all tobacco leaves, as well as stabilize and guarantee prices of just cured tobacco leaves, based on grades; To provide credit facilities to registered tobacco Planters directly or through credit cooperative associations or any other financial institutions; To promote, foster and encourage the organization cooperative associations among tobacco planters, producer or dealers; To act as agent, broker or commission merchant of producers' cooperative associations or act as tobacco manufacturers' agent; To do all such things, transact all such business perform such functions directly or indirectly necessary incidental or conducive to the attainment of the purposes of the PTA; and Generally, to exercise all the powers of a corporation under the Corporation Law, insofar as they are not inconsistent with the provisions of this Act.