Section 3
SEC. 3. All such persons, associations, partnerships, or corporations that have complied with the requirements provided in Section two hereof, if they so apply, shall be allowed to continue to engage in their respective lines of activity in the rice and/or corn industry only for the purpose of liquidation, as follows: (a) Those engaged in the retail, wholesale, culture, w transportation, handling, distribution or acquisition for the purpose of trade of rice and/or corn and the by-products thereof shall be allowed to continue to engage therein for a period of two years from the date of effectivity of this Act; and (b) Those engaged in the milling and/or warehousing of rice and/or corn and the by-products thereof shall be allowed to continue to engage therein for a period of three years from the date of effectivity of this Act: Provided, That upon the termination of the periods above-provided none of said alien persons or entities shall be allowed and granted a license to engage in the rice and/or corn industry: Provided, further, That the maximum amount of capital investments of said alien persons or entities in their respective lines of activity in the industry shall be pegged to the amount of capital investments required to be declared under Section two hereof: Provided, finally, That after the date of approval of this Act no license to engage in the rice and/or corn industry in any field of activity shall be granted to any new alien applicant therefor. The license to any alien to engage in the rice and/or corn industry as above-provided shall be forfeited for any violation of any provision of laws, rules, or regulations issued pursuant thereto on economic control, nationalization, monetary, foreign exchange, taxation, health, weights and measures, labor and other laws relating to trade, commerce and industry. Failure of any alien to renew a license for any year within the periods above-provided shall mean voluntary retirement and shall bar renewal thereof.