For the large scale exploration development and utilization of minerals

For the large scale exploration development and

This preview shows page 20 - 21 out of 23 pages.

(4) For the large scale exploration, development and utilization of minerals, petroleum andother mineral oils, the President may enter into agreements with foreign-ownedcorporations involving technical or financial assistance, (RA 79 42 ) subject to thefollowing limitations: a) As to Parties.Only the President, in behalf of the State,may enter into these agreements, and only with corporations. b) As to Size of theActivities.Only large scale exploration, development and utilization is allowed,i.e., very capital-intensive activities. c) The natural resources subject of theactivities is restricted to minerals, petroleum and other mineral oils, the intent beingto limit service contracts to those areas where Filipino capital may not be sufficient.d) Consistency with the Provisions of Statute.The FTAA must be in accordancewith the terms and conditions provided by law. e) The FTAA must be based on realcontributions to economic growth and general welfare of the country. f) The FTAAmust contain rudimentary stipulations for the promotions of the development anduse of local scientific and technical resources. 65.The Public Estate Authority reclaimed the submerged areas of Manila Bay which are part ofthe sea. Later, the PEA sought to transfer ownership of the 77 hectares comprising theFreedom Islands, now covered by certificate of title in the name of the PEA as well as the 209hectares of still submerged areas of Manila Bay, to the AMARI Coastal DevelopmentCorporation, a private corporation. (1)Discuss the validity of the transfer of a) the Freedom Islands and b) still submergedareas of Manila Bay . (2)Would your answer be the same if the reclamation was undertaken by the NationalHousing Authority, a government entity not tasked to dispose of public land, under BOT contract governed by the BOT law? a ANSWERS: (1)
Image of page 20
Image of page 21

You've reached the end of your free preview.

Want to read all 23 pages?

  • Summer '17
  • Dean Almirante
  • Law, The Land, Separation of Powers, United States Congress, Nationality law

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture