REPUBLIC ACT NO. 5452 - AN
ACT AMENDING PARAGRAPH (G) OF SECTION FOUR HUNDRED TWO, PART 3, TITLE
II, BOOK 1 OF REPUBLIC ACT NUMBERED ONE THOUSAND NINE HUNDRED
THIRTY-SEVEN, OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF THE
PHILIPPINES, IN ORDER THAT IMPORT QUOTAS MAY BE ESTABLISHED FOR CAUSES
OTHER THAN THE RESULT OF ANY CONCESSION GRANTED UNDER A TRADE AGREEMENT
Section 1. Paragraph g of Section four hundred two, Part 3,
Title II, Book I of Republic Act Numbered One thousand nine hundred
thirty-seven is hereby amended as follows:
"g. (1) The Commission, upon its own motion, or in
pursuance of a request of the President or a resolution of either House
of Congress, or upon application of any interested party when in the
judgment of the Commission there is good and sufficient reason thereof,
shall conduct an investigation to determine whether any product, is
being imported into the Philippines in such quantities and/or under
such conditions as to cause or threaten serious injury to the domestic
industry producing like or directly competitive products. Notice of the
investigation shall be published at least once a week for two
consecutive weeks in two newspapers of general circulation within the
Philippines, and a copy of the notice shall be sent by registered mail
to the importer or importers and domestic producers, if their addresses
are known to the Commission, at least ten days before the
investigation; and all interested parties shall be given an opportunity
to be heard at the investigation. In determining whether domestic
industry has suffered or is being threatened with serious injury, the
Commission shall determine whether the wholesale prices at which the
domestic products are sold are reasonable, taking into account the cost
of raw materials, labor, overhead and a fair return on investment. The
Commission shall render a report to the President, through the National
Economic Council, within three months after the motion, request,
resolution or application was received.
"Should the Commission find that the representations made in accordance
with the preceding paragraph are justified, it shall recommend to the
President, through the National Economic Council, the withdrawal,
modification or suspension, in whole or in part, of any concession
under any trade agreement or the establishment of import quota which
shall not be less than ten per centum nor more than one hundred per
centum of the average annual quantity imported or, in the absence
thereof, the average annual value of such importation during the three
calendar years immediately preceding the date such quota is fixed, or
the imposition of other import restrictions to the extent and for the
time necessary to prevent or remedy such injury. Any remedial action
recommended shall be conditioned upon the wholesale prices of domestic
products being reduced to, or being maintained at, such fair level as
the Commission shall recommend for the protection of
consumers.
"(2) The National Economic Council shall have thirty
days from receipts of the report to evaluate it. Upon the expiration of
the said period the Chairman of the National Economic Council shall
submit the report to the President, enclosing the evaluation and
recommendations of the National Economic Council.
"(3) Upon receipt of the report of the findings and
recommendations of the Commission, the President may prescribe such
adjustments in the rates of import duties, withdraw, modify or suspend,
in whole or in part, any concession under any trade agreement,
establish import quota, or institute such other import restrictions as
the Commission recommends through the National Economic Council to be
necessary in order to fully protect domestic industry and the
consumers, subject to the condition that the wholesale prices of the
domestic products concerned shall be reduced to or maintained at the
level recommended by the Commission unless, for good cause shown, an
increase thereof, as recommended by the Commission through the National
Economic Council, is authorized by the President. Should increases be
made without such authority, the Commission shall immediately notify
the President, who shall allow the importation of competing products in
such quantities as to protect the public from the unauthorized increase
in wholesale prices."
Sec. 2. This Act shall take effect upon its
approval.
Approved: September 30, 1968
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