Paragraph 2 of Executive Order No
Section 1. Paragraph 2 of Executive Order No. 433, dated April 13, 1951, is hereby amended to read as follows:
2.— What may be considered —necessary— industry. —A —necessary— industry is one complying with the following requirements:
(1) Which is conducive to the establishment of a stable national economy, taking into account the number of such similar enterprises already in existence and their collective productive capacity relative to the size of the domestic and/or export demand for their product,
(2) Where the imported raw materials represent a value not exceeding 50% of the gross value in money of the manufactured products.
(3) Which will operate on a commercial scale in conformity with up-to-date practices, and from data of project studies or from profit and loss statements, it appears that the industry at the expiration of the exemption will be able to survive, notwithstanding payment of taxes due the government.