Section 4
SEC. 4. Section 10 of the same Act is hereby amended to read as follows: "SEC. 10. The Administration shall coordinate, supervise, direct and control the activities of all existing governmental agencies; provide incentives to farmers, growers and producers; acquire adequate motor vehicles to be used in the procurement and distribution of rice, corn and palay: Provided, however, That the acquisition of motor vehicles shall be done by public bidding: Provided, further, That the offer at such public bidding shall in no case be more than the market price of such vehicles; and issue rules and regulations as may be necessary to carry out the purposes of this Act or effectively implement and execute the rice and corn program." "SEC. 10-A. The Rice and Corn Administration may import rice and corn from the best available source or through private parties, after public bidding with sealed bids, unless the importation be on a government to government contract, free from taxes, duties and/or special charges when all the following conditions exist as verified by the National Economic Council upon consultation with the Department of Agriculture and Natural Resources: (1) an existing or imminent shortage in the local supply of the above-mentioned commodities of such gravity as to constitute a national emergency; (2) there is no available local supply which can be purchased by the Administration; (3) the Rice and Corn Administration does not have sufficient buffer stocks to properly stabilize the price; and (4) the total quantity of cereal to be imported shall not exceed the amounts necessary to cover the certified shortage: Provided, That the said imported cereal shall be sold at prices provided herein for local rice and corn. The Rice importation authorized under this Act shall be sold by the RCA through retailers or dealers duly licensed by the Rice and Corn Board, through the barrio councils, and in chartered cities or other places where there are neither RICOB registered retailers nor Barrio Councils, through retailers appointed by the RCA upon recommendation of the Municipal Treasurers: Provided, further, That any proceeds, if the importation is under U.S. Act No. 480 and/or savings, or profits generated by the Rice and Corn Administration in undertaking said importations shall be used exclusively for the development of the local Rice and Corn Industries as allocated by the RCA, in consultation with the National Economic Council and the Department of Agriculture and Natural Resources: Provided, furthermore, That such proceeds, savings or profits shall be reported to Congress before the beginning of every regular session."