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REPUBLIC
ACT NO. 2082
REPUBLIC ACT NO. 2082 - AN ACT TO
FURTHER AMEND SECTION FIVE OF REPUBLIC ACT NUMBERED SIX HUNDRED AND
SIXTY-THREE, AS AMENDED BY REPUBLIC ACT NUMBERED TWO THOUSAND SEVENTEEN
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Section 1.
Section five of Republic Act Numbered Six hundred and sixty-three, as
amended by Republic Act Numbered Two thousand seventeen, is hereby
further amended to read as follows:
"Sec. 5. In
order to enable the Corporation to exercise the powers and duties
vested in it by this Act:
"(a) The Corporation is hereby exempted from the
payment of import duty on rice and corn, and on such supplies,
machinery and equipment such as fertilizer and lime as may be necessary
for demonstration farming: Provided, That the exemptions granted under
this Act shall be availed of only upon recommendation of the Board of
Directors of the Corporation and certified by the Secretary of
Agriculture and Natural Resources and upon certification by the
President that there is a rice or corn shortage, and only for the
amount specified in said certification: Provided, further, That all
exemptions from taxes granted under this Act shall be for a period of
not exceeding one year from the enactment hereof: And provided,
finally, That no corn or rice imported by the Corporation under this
Act shall be converted into starch in commercial quantity and any
person or corporation violating this Act shall, upon conviction by
competent court, be punished by imprisonment of not less than five
years nor more than eight years and a fine of eight thousand pesos. If
the violation is committed by a corporation, the official of the
corporation responsible for the violation shall suffer the penalties
provided in this Act."
Sec. 2. This Act shall take effect upon its
approval.cralaw
Approved: June 14, 1958
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