Qualifications of applicants.
Section 6
SEC. 6. Qualifications of applicants.—Applicants for permits or leases under this Act shall have the following qualifications: In case of an individual, he shall be a citizen of the Philippines, be of legal age, and have the capacity to contract obligations. In case of an association of individuals, it shall be either a partnership or a corporation duly organized and constituted under the laws of the Philippines, at least sixty per centum of the capital of which is and shall at all times be owned and held by citizens of the Philippines. Any applicant shall present evidence showing that sufficient finance, organization, resources, technical competence, skills, and experience necessary to conduct the operations to be undertaken under the permit and/or lease being applied for, in a manner which is in accordance with the best method known to the industry, are available to the applicant.