Act No. 3054
TO AMEND SECTION ONE OF ACT NUMBERED TWENTY-NINE HUNDRED AND THIRTY-TWO, ENTITLED “AN ACT TO PROVIDE FOR THE EXPLORATION, LOCATION, AND LEASE OF LANDS CONTAINING PETROLEUM AND OTHER MINERAL OILS AND GAS IN THE PHILIPPINE ISLANDS,” PROVIDING FOR CASES IN WHICH ASSOCIATIONS OR CORPORATIONS WITH FOREIGN CAPITAL MAY MAKE USE OF THE RIGHTS GRANTED BY SAID ACT
Be it enacted by the Senate and House of Representatives of the Philippines in Legislature assembled and by the authority of the same:
SECTION 1. Section one of Act Numbered Twenty-nine hundred and thirty-two is hereby amended to read as follows:
“SECTION 1. All public lands containing petroleum or other mineral oils and gas, upon which no proprietary right have become vested under existing law, are hereby withdrawn from sale and are declared to be free and open to exploration, location, and lease, by citizens of the Philippine Islands or of the United States of legal age or by associations of such persons or by corporations organized and constituted under the laws of the Philippine Islands or of the United States or of any State or Territory thereof and authorized to do business in the Philippine Islands: Provided, That citizens of another country, the laws, customs, or regulations of which, deny similar or like privileges to citizens or corporations of the Philippine Islands or of the United States, shall not by stock ownership, stock holding, or stock control, own any interest in any lease acquired under the provisions of this Act.”
SEC. 2. When this Act shall have been approved by the President of the United States, as provided in section nine of the Act of Congress of August twenty-ninth, nineteen hundred and sixteen, such fact shall be made known by proclamation of the Governor-General of the Philippine Islands, and this Act shall take effect on the date of such proclamation.
Approved, May 22, 1922
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