Law Summary
Authority and Responsibilities of the National Abaca and Other Fibers Corporation
- NAFCO is tasked with subdividing the transferred lands into lots of convenient sizes.
- Certain portions of lands may be reserved or have titles transferred by the President of the Philippines for government use or for government-owned or controlled corporations/entities.
Lot Size Limitations for Agricultural and Residential Purposes
- Agricultural lots:
- Coconut lands: maximum 5 hectares.
- Improved abaca lands: maximum 10 hectares.
- Unimproved lands: maximum 12 hectares.
- Urban homesite or residential lots:
- Maximum area of 1,000 square meters.
- Minimum area of 150 square meters.
Presidential Reservation and Title Transfer
- The President of the Philippines has the power to reserve portions of the lands or transfer titles for use by national or local governments or government-owned/control entities.
Effectivity
- The Act takes effect immediately upon approval on June 22, 1957.