Sec. 2.    This conveyance is made for the exclusive purpose of enabling the National Press Club of the Philippines or any subsidiary under its control to construct on the said land a permanent National Press Building of its own approved by the Urban Planning Commission.

Sec. 3.    The title to the land conveyed by this Act shall not be transferred by the said club to another person without previous authorization by the President of the Philippines.

Sec. 4.    In case the National Press Club of the Philippines is dissolved or ceases for any reason to need the land, the said land shall ipso facto revert to the National Government without compensation: Provided, That the improvements thereon may be sold at public auction and the proceeds thereof shall be used to liquidate the obligations incurred by the National Press Club of the Philippines or its subsidiary which financed the construction of the National Press Building: Provided, further, That the purchaser of the improvements shall be allowed to lease the said land from the Government at reasonable price.

Sec. 5.    The President of the Philippines is likewise authorized to sell to any other well recognized national association or associations of professionals with academic standing (lawyers, physicians, engineers, accountants, dentists, pharmacists, nurses, teachers and others) and the veterans, parcels of public land within the City of Manila, subject to the rules and regulations issued by the National Urban Planning Commission for the City of Manila and the provisions of section four of this Act, for the exclusive purpose of enabling said association or associations to construct a permanent building of its own. 

Sec. 6.    This Act shall take effect upon its approval.

Approved: June 20, 1953