Permissible Investments.
Section 3
SEC. 3. Permissible Investments.—If an investment by a non-Philippine national in an enterprise not registered under the Investment Incentives Act is such that the tot participation by non-Philippine nationals in the outstanding capital thereof shall exceed thirty percent, the enterprise must obtain prior authority from the Board of Investment' which authority shall be granted unless the propose investment— (a) Would conflict with existing constitutional Provisions and laws regulating the degree of required ownership by Philippine nationals in the enterprise; or (b) Would pose a clear and present danger of promoting monopolies or combinations in restraint of trade; or (c) Would be made in an enterprise engaged in an area adequately, being exploited by Philippine nationals; or (d) Would conflict or be inconsistent with the Investments Priorities Plan in force at the time the investment is sought to be made; or (e) Would not contribute to the sound and balanced development of the national economy on a self-sustaining basis. Investments made in the form of foreign exchange or other assets actually transferred to the Philippines shall also be registered with the Central Bank. The Board shall assess and appraise the value of such assets other than foreign exchange.