"Section 1.    All lands which have been or may hereafter be transferred to the Republic of the Philippines in accordance with the Philippine Property Act of nineteen hundred and forty-six (Act of Congress of the United States of July three, nineteen hundred and forty-six, and Republic Act Numbered Eight and all the public lands and improvements thereon transferred from the Bureau of Lands to the National Abaca and other Fibers Corporation under the provisions of Executive Order Numbered Twenty-nine, dated October twenty-five, nineteen hundred and forty-six), and of Executive Order Numbered Ninety-nine, dated October twenty-two, nineteen hundred and forty-seven, shall be subdivided by the National Abaca and other Fibers Corporation into convenient-sized lots, except such portions thereof as the President of the Philippines may reserve or transfer title thereto for the use of the National or local governments, or for the use of corporations or entities owned or controlled by the Government. Subdivision lots primarily intended for, or devoted to, agricultural purposes shall not exceed an area of five hectares for coconut lands, ten hectares for improved abaca lands, and twelve hectares for unimproved lands; urban homesite or residential lots shall not exceed an area of one thousand square meters nor less than one hundred fifty square meters."