Operating Expenses.
Section 8
SEC. 8. Operating Expenses.—For the operating expenses of the Company for the fiscal year nineteen hundred sixty-seven, the sum of Five hundred thousand pesos is hereby appropriated out of any fund in the National Treasury not otherwise appropriated. For the succeeding fiscal years, the Board of Directors may appropriate out of the paid-in capital of the Company a sum not exceeding r million pesos each fiscal year for operating expenses standing annual appropriation is hereby made out of a fund in the National Treasury not otherwise appropriated of such sums as may be necessary to reimburse the Company of the total amount actually expended out of the said One million pesos for overhead expenses at the end of each fiscal year, which reimbursement shall accrue to the paid-in capital of the Company. The unexpended balance of the appropriation for overhead expenses at the fiscal year shall automatically revert to the said paid-in capital.