Section 3
SEC. 3. Such shares contributed by the Philippine Coconut Administration to the capital of a partnership hares of stock of a corporation subscribed by it shall be d at any time at its actual market value or at least its are value to private individuals who are citizens of the Philippines who may desire to buy such shares: Provided, That in the sale of the said shares contributed by the Philippine Coconut Administration to the capital of a partnership or of the said shares of stock subscribed by it, the members of the partnership or the stockholders of the corporation, as the case may be, shall be given at least six months' option within which to purchase the said shares in proportion to their respective holdings, but in the absence of such buyers, preference shall be given to residents of the locality or province where the partnership or corporation is located, as the case may be.