(a)  In any enterprise registered under the Investment  Incentives Act, to the extent that the total investment of  non-Philippine nationals therein would not affect its status  as a registered enterprise under that law;

(b)  In any enterprise not registered under the Investment Incentives Act, to the extent that the total investment  of non-Philippine nationals therein shall not exceed thirty  percent   of  the   outstanding  capital   of  that  enterprise,  unless existing law forbids any non-Philippine ownership  in the enterprise or limits ownership by non-Philippine  nationals to a percentage smaller than thirty percent.

(2) Within thirty days after notice of the investment is received by it, the enterprise in which any investment is made by a non-Philippine national shall register the same with the Board of Investments for purposes of record. Investments made in the form of foreign exchange or other assets actually transferred to the Philippines shall also be registered with the Central Bank. The Board shall assess and appraise the value of such assets other than foreign exchange.

(a)  Would conflict with existing constitutional Provisions and laws regulating the degree of required ownership by Philippine nationals in the enterprise; or

(b) Would pose a clear and present danger of pro­moting monopolies or combinations in restraint of trade; or

(c) Would be made in an enterprise engaged in an area adequately, being exploited by Philippine nationals; or

(d) Would conflict or be inconsistent with the Investments Priorities Plan in force at the time the investment is sought to be made; or

(e)  Would not contribute to the sound and balanced development of the national economy on a self-sustaining basis.

(1) That the operation or activity of such alien, firm, association, partnership, corporation or other form of business organization is not inconsistent with the Investments Priorities Plan;

(2)  That such business or economic activity will contribute to the sound  and balanced  development of the  national economy on a self-sustaining basis;

(3) That such business or economic activity by the ap­plicant would not conflict with the Constitution or laws  of the Philippines;

(4) That the field of business or economic activity is  not one that is being adequately exploited by Philippine nationals; and

(5) That the entry of applicant therein will not pose a clear and present danger of promoting monopolies or combinations in  restraint of trade.

(1)  To appoint a citizen of the Philippines, of legal age,  good moral character and reputation, and sound financial  standing, as resident agent, who shall be authorized to  accept summons and other legal process in behalf of the applicant;

(2)  To establish an office in the Philippines and to notify  the Securities and Exchange Commission in writing of the  applicant's exact address and of every contemplated transfer  thereof or of the opening of new offices, at least fifteen  days before the same are to be effected; and once effected,  not later than ten days afterwards;

(3)  To bring assets into the Philippines to constitute  the capital of the office or offices, of such kind and value  as the Board may deem necessary to protect those who  may deal with the applicant, and to maintain that capital  unimpaired  during the   period  it   does   business   in   the  Philippines;

(4)  To present prior proof that citizens of the Philippines and  corporations  or  other business  organizations  organized or existing under the laws of the Philippines are allowed to do business in the country or individual state within a federal country of which applicant is a citizen or in which it is domiciled: Provided, however, That if the state or country of domicile of the applicant imposes on, or requires of, Philippine nationals other conditions, requirements or restrictions besides those set forth in this Act, the Board of Investments shall impose the said other conditions, requirements or restrictions on the applicant if, in its judgment, the imposition thereof shall foster the sound and balanced development of the national economy on a self-sustaining basis;

(5)  To submit to the  Securities  and Exchange  Commission certified copies of applicant's charter and by-laws  and all amendments thereto, if any, with their translation  into an official language within twenty days after their  adoption or after the grant of the prescribed certificate  by the Board of Investments; and annually, of applicant's  financial statements showing all assets, liabilities, and networth and  results of  operations,   setting  out  separately  those pertaining to the branch office;

(6)  To keep a complete set of accounting records with  the resident agent, which shall fully and faithfully reflect  all   transactions  within the Philippines,   and   to   permit  inspection thereof by the Securities and Exchange Commission, the Bureau of Internal Revenue,  the Board  of  Investments and, if a corporation, by the officers mentioned  in Section fifty-four of the Corporation Law;

(7)  To  give priority to  resident creditors as  against  non-resident creditors and owners or stockholders in the  distribution    of    assets    within   the    Philippines    upon   insolvency, dissolution or revocation of the license;

(8)  To give the Securities and Exchange Commission  at least six months advance notice in writing of applicant's  intention to stop doing business within the Philippines; and  to give such public notice thereof as the Securities and  Exchange Commission may require for the protection of  resident creditors and others dealing with the applicant; and

(9) Not to terminate any franchise, licensing or other agreement that applicant may have with a resident of the Philippines, authorizing the latter to assemble, manufacture or sell within the Philippines the products of the applicant, except for violation thereof or other just cause and upon payment of compensation and reimbursement of investment and other expenses incurred by the licensee in developing a market for the said products: Provided, however, That in case of disagreement, the amount of compensation or reimbursement shall be determined by the court where the licensee is domiciled or has its principal office who shall require the applicant to file a bond in such amount as, in its opinion, is sufficient for this purpose.