Capitalization and Revolving Fund.
Section 6
SEC. 6. Capitalization and Revolving Fund.—(a) The NAMARCO shall have an authorized capital of thirty million pesos to be subscribed entirely by the Republic of the Philippines and to be paid out of any general fund in the National Treasury, as follows: The sum of ten million pesos upon approval of this Act; and The sum of ten million pesos for every fiscal year thereafter for a period of two years which shall be automatically appropriated and included in the General Appropriation Acts for such subsequent fiscal years. The authorized capital of thirty million pesos shall constitute as a revolving fund for the purpose of financing its business transactions, except as herein provided for. (b) For the operating expenses of the NAMARCO, the Board of Directors may appropriate out of the said authorized capital a sum not exceeding one million pesos during each fiscal year and a standing annual appropriation is hereby made out of any general fund in the National Treasury of such sum as may be necessary to reimburse the NAMARCO of the total amount actually expended out of the said one million pesos for overhead expenses during each fiscal year, which reimbursement shall accrue to the revolving fund. The unexpended balance of the appropriation for overhead expenses at the end of each fiscal year shall automatically revert to the said revolving fund and whatever earnings of the NAMARCO, if any, shall also accrue to the revolving fund.