Section 5
SEC. 5. Within fifteen days after the Executive Order establishing control of prices under Section 2(1) hereof shall have taken effect, all importers, manufacturers or producers, wholesalers, and retailers with stocks worth not less than P1,000 of the commodity or commodities under controlled prices shall file with the Agency designated by the President or the Board under Section 2(5) hereof, or with its duly authorized representative a complete and true inventory of their stock under oath. Thereafter, all expected or subsequent shipments of such commodities by importers shall be declared under oath to the Agency or its duly authorized representative within five days after receipt of the corresponding bills of lading and other shipping documents. All merchandise reported as required in this Act shall be deemed offered for sale. Any undeclared stock shall be considered prima facie evidence of hoarding and may be impounded by the Agency or the Board and immediately disposed of through the NAMARCO at the controlled prices thereof. The proceeds of such sale shall be deposited with the court of justice having jurisdiction over the criminal case for violation of this section and the rules and regulations promulgated pursuant thereto. Upon conviction of the owner or possessor of such excess stock, the said impoundage shall be considered as penalty in addition to that prescribed in Section 9 hereof, but in the event the owner or possessor accused of hoarding is found innocent, the said excess stock shall be returned to him or, if already sold, the proceeds of the sale be given to him without any deduction.