Section 16Sec./Art. 16

Capitalization. The Authority shall have an authorized capital stock equal to and consisting of -

a. The value of fixed assets, including port facilities and equipment administered by or belonging to the Port of Cebu and such other properties, movable and immovable, within the territorial jurisdiction of the Authority as defined in Section 6 hereof, valued on the date of the effectivity of this Act; and

b. Government contribution in such amount as may be deemed an appropriate initial balance. Such initial amount, as approved by the President of the Philippines, shall be more or less equivalent to six (6) months working capital requirement of the Authority.