Section 2
SEC. 2. Section two of Republic Act Numbered Forty Seven Hundred Twenty-Four is hereby amended to read as follows: "SEC. 2. Definition of Terms.—As used in this Act, the term: "Metals industry" shall refer to the manufacture from ore materials of products of all precious, base and rare metals and their alloys, including all processes from smelting in direct and indirect reduction furnaces to the final finished product state, either separately or part of an integrated process, namely: the production of bullion, pig iron, steel ingots, billets, pellets, blooms, skelps, slabs or bars, and rolling and/or processing into basic forms such as sheets, plates, strips, tubes, conduits, pipes, rails, rods, tinplates and the like, and the rough castings, forgings, and extrusions and the final processing, manufacture, fabrication, and/or assembly into finished metal products such as power generating machinery, agricultural machinery, and implements, office machinery, metal working machinery, mining construction, and all other industrial machinery, and machine parts and accessories; electric machinery, apparatus, and appliances such as generators, transformers, motors and the like, and their metal parts and accessories; transport equipment such as railway locomotives and cars, passenger road motor vehicles, motorcycles, trucks, lorries, bicycles and other cycles, aircraft, ships and boats and their metal parts and accessories; and various metal manufacture such as railway construction accessories, wires, tubes and fittings, firearms, wire netting and the like, nails, bolts, and similar articles, needles and pins, safes, hand tools and implements, tools, dies and molds, household utensils, forks and spoons and cutlery, hardwares and metals, metal containers for transport and storage, and other miscellaneous manufactured articles of base, precious and rare metals and their alloys; "Allied industries" shall refer to such industries as the coal and coke and the refractory industries, the principal manufactured products of which are consumed or used by the metals industries in processing of metallic raw materials into finished or semi-finished products; "Center" shall mean the Metals Industry Research and Development Center; "Private sector" shall mean those private entities or individual engaged in metals and allied industries as herein defined; "Board shall refer to the Board of Trustees of the Metals Industry Research and Development Center.