Section 63. Equity sharing. —

Every corporation holding a license agreement, license, lease or permit to utilize, exploit, occupy or possess any forest land, or conduct any activity therein, or establish and operate a wood-processing plant, shall within one (1) year after the effectivity of this amendatory Decree, formulate and submit to the Department Head for approval a plan for the sale of at least ten percent (10%) of its subscribed capital stock in favor of employees, laborers and the general public.

The plan shall be so implemented that the sale of the shares of stock shall be effected by the corporation not later than the sixth year of its operation, or the first year of the effectivity of this amendatory Decree, if the corporation has been in operation for more than five (5) years prior to such effectivity.

No corporation shall be issued any license agreement, license, lease or permit after the effectivity of this amendatory Decree, unless it submits such a plan and the same is approved for implementation within the sixth year of its operation.

The Department Head shall promulgate the necessary rules and regulations to carry out the provisions of this section, particularly on the determination of the manner of payment, factors affecting the selling price, establishment of priorities in the purchase of the shares of stock, and the preparation of a fund to ensure the financial capability of the deserving employees and laborers. The industries concerned shall extend all assistance in the promulgation of policies on the matter, such as the submission of all data and information relative to their operation, personnel management and asset evaluation.