Applicability and Interpretation.
Section 25
SEC. 25. Applicability and Interpretation.—In interpreting and applying the provisions of this Act, the following rules shall be observed: (a)Applicability to Existing Enterprises.—An enterprise which satisfies the definition of a "Philippine National" engaged at the time of passage of this Act in an area of investment declared by the Board as a preferred area of investment, shall be entitled to registration as to its present capacity, as well as to such an expansion or enlargement thereof requiring new or additional machinery and equipment as shall be within the unfilled measured capacity of the area; so also, an investor in such an existing enterprise shall be entitled to benefits and incentives to the extent of his present as well as new or additional investment therein: Provided, That the benefits of this Act, so far as may be applicable to such existing enterprises and investors in such existing enterprises, shall be given prospective effect only from the date of registration. (b)Benefits of Multiple Area Enterprises.—When a registered enterprise engages in activities or endeavors that have not been declared preferred or pioneer areas of investment, the benefits and incentives accruing under this Act to registered enterprises and investors therein shall be limited to the portion of the activities of such registered enterprise as is a preferred or pioneer area of investment. (c)Resolving Doubts.—All doubts concerning the benefits and incentives granted enterprises and investors by this Act shall be resolved in favor of investors and registered enterprises.