Capitalization.
Section 19
SEC. 19. Capitalization. - The Aurora Special Economic Zone Authority shall have an authorized capital stock of one billion (1,000,000,000) no par shares with a minimum issue of Ten pesos (P10.00) each, the majority shares of which shall be subscribed and paid for by the National Government and the local government units (LGUs) embracing the Aurora Special Economic Zone. The board of directors of the ASEZA may, with the written concurrence of the Secretary of Finance, sell shares, representing not more than forty per centum (40%) of the capital stack of the ASEZA to the general public under such policy as the Board and the Secretary of Finance may determine. The National Government and the LGUs shall, in no case, own less than sixty per centum (60%) of the total issued and outstanding capital of the Aurora Special Economic Zone Authority. The amount necessary to subscribe and pay for the shares of the national government to the capital stock of the ASEZA shall be included in the annual General Appropriations Act. For LGUs, the funds shall be taken from their internal revenue allotment and other local funds.