(This voluminous portion indicating the rates is deleted)
Sec.
4. The ad valorem rates herein
of import duties indicated hereof shall be subject to modification by
Congress
after review and recommendation by the National Economic and
Development
Authority after one (1) year from the effectivity of the rates
prescribed:
Provided, That before any recommendation is submitted to Congress
pursuant
to this Section, the Tariff Commission shall conduct an investigation
in
the course of which shall hold public hearings wherein interested
parties
shall be afforded reasonable opportunity to be present, produce
evidence
and to be heard. The Tariff Commission shall also hear the views and
recommendations
of any government office, agency or instrumentality concerned.
Subject
to the provisions of the preceding paragraph, the National Economic and
Development Authority shall recommend to Congress the necessary
adjustment
in such specific rates of import duties indicates thereof after six (6)
months from their effectivity: Provided, finally, That the President
may
not increase or decrease any ad valorem or specific duty rates herein
provided
when Congress is in session.
Sec.
5. When an article falling within
a heading or subheading is subject to an ad valorem or specific rate of
duty, it shall be subject to either the ad valorem or specific rate of
duty, whichever is higher.
Sec.
6. The Commissioner of Customs,
subject to the approval of the Secretary of Finance shall promulgate
rules
and regulations necessary for the implementation of Section 5
hereof.
Sec.
7. All laws, orders, issuances,
rules and regulations or parts thereof inconsistent with this Act are
hereby
repealed or modified accordingly.
Sec.
8. This act shall take effect
upon approval.
.
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