In the event of a negative final determination, or if the cash bond is in excess of the definitive safeguard duty assessed, the Secretary shall immediately issue, through the Secretary of Finance, a written instruction to the Commissioner of Customs, authorizing the return of the cash bond or the remainder thereof, as the case may be, previously collected as provisional general safeguard measure within ten (10) days from the date a final decision has been made: Provided, That the government shall not be liable for any interest on the amount to be returned. The Secretary shall not accept for consideration another petition from the same industry, with respect to the same imports of the product under consideration within one (1) year after the date of rendering such a decision.

When the definitive safeguard measure is in the form of a tariff increase, such increase shall not be subject or limited to the maximum levels of tariff as set forth in Section 401 (a) of the Tariff and Customs Code of the Philippines.

SEC. 14. Contents of the Report by the Commission. - Based on its findings, the Commission shall submit to the Secretary: (a) the investigation report; (b) the proposed recommendations; ? A copy of the submitted adjustment plan; and (d) the commitments made by the domestic industry to facilitate positive adjustment to import competition.

The report shall also include a description of the short and long-term effects of the affirmative or negative recommendation, as the case may be, on the petitioner, the domestic industries, the consumers, the workers, and the communities where production facilities of such industry are located.

The Commission, after submitting the report to the Secretary, shall make it available to the public except confidential information obtained under Section 10 and publish a summary in two (2) newspapers of general circulation.

SEC. 15. Limitations on Actions. - The duration of the period of an action taken under the General Safeguard Provisions of this Act shall not exceed four (4) years. Such period shall include the period, if any, in which provisional safeguard relief under Section 8 was in effect.

The effective period of any safeguard measure, including any extensions thereof under Section 19 may not, in the aggregate, exceed ten (10) years.

(1) Any additional duty, or any duty imposed under this Section may be specific and/or ad valorem. It shall be in the amount necessary to prevent or redress or remedy the injury to the domestic industry;

(2) If a quantitative restriction is used, such measure shall not reduce the quantity of imports below the level of a recent period which shall be the average of imports in the last three (3) representative years for which statistics are available, unless clear justification is given that a different level is necessary to prevent or remedy serious injury;

(3) An action described in Section 13 (a), (b), or ? That has an effective period of more than one (1) year shall be phased down at regular intervals within the period in which the action is in effect;

(4) Within two (2) years after the expiration of the action, the Secretary shall not accept any further petition for the same article: Provided, however, That a safeguard measure with a duration of one hundred eighty (180) days or less may be applied again to the same product if:

(I) At least one (1) year has elapsed since the date of introduction of the safeguard measure; and

(ii) Such measure has not been applied on the same product more than twice in the five (5) year period immediately preceding the date of introduction of the measure.

SEC. 16. Monitoring. - So long as any action taken under Section 13 remains in effect, the Commission shall monitor developments with respect to the domestic industry, including the progress and specific efforts made by workers and firms in the domestic industry to make a positive adjustment to import competition.

(1) If the initial application of action taken under Section 13 exceeds three (3) years, or if an extension of such action exceeds three (3) years, the Commission shall submit to the Secretary a report on the results of the monitoring, not later than the date which is the midpoint of the initial period, and of each such extension, during which the action is in effect.

(2) The Commission, in the preparation of each monitoring report, shall conduct a hearing at which interested parties shall be given reasonable opportunity to be present, to present evidence, and to be heard.

SEC. 17. Notice of General Safeguard Measure. - The Secretary shall notify the concerned Committee on Safeguards of the World Trade Organization:

(a) When initiating an action relating to serious injury or threat thereof and the reasons for it;

(b) When adopting a provisional general safeguard measure following a positive preliminary determination; and

? When applying or extending a definitive general safeguard measure following a positive final determination.

SEC. 18. Reduction, Modification, and Termination of Action. Action taken under Section 13 may be reduced, modified, or terminated by the Secretary only after:

(a) Taking into account the results of the monitoring indicated in the report submitted by the Commission under Section 16, he determines that:

(I) No adequate efforts to make a positive adjustment to import competition have been undertaken by the

domestic industry; and

(ii) Changed economic circumstances have impaired the effectiveness of action taken under Section 13.

(b) A majority of the representatives of the domestic industry submits to the Secretary, at least one (1) year before the expiration, a petition requesting such reduction, modification, or termination on the basis that the domestic industry has made a positive adjustment to import competition.

If reduction, modification, or termination of action is being requested for an action that has been in effect for three (3) years or less, the petitioning industry shall submit its request to the Secretary. The Secretary shall refer the request to the Commission which shall conduct an investigation following the procedures under Section 9, to be completed within sixty (60) days from receipt of the request. The Commission shall submit a report to the Secretary who shall then take action after taking into consideration conditions under Section 16 (1) and (2), not later than thirty (30) days after receipt of the Commission's report.

SEC. 19. Extension and Re-application of Safeguard Measure . ?

(1) Subject to the review under Section 16, an extension of the measure may be requested by the petitioner if the action continues to be necessary to prevent or remedy the serious injury and there is evidence that die domestic industry is making positive adjustment to import competition.

(2) The petitioner may appeal to the Secretary at least ninety (90) days before the expiration of the measure for an extension of the period by stating concrete reasons for the need thereof and a description of the industry's adjustment performance and future plan. The Secretary shall immediately refer the request to the Commission. Following the procedures required under Section 9, the Commission shall then submit a report to the Secretary not later than sixty (60) days from its receipt of the request. Within seven (7) days from receipt of the report, the Secretary shall issue an order granting or denying the petition. In case an extension is granted, the same shall be more liberal than the initial application.

SEC. 20. Evaluation of Effectiveness of Action. - After termination of any action under Section 13, the Commission shall evaluate the effectiveness of the actions taken by the domestic industry in Facilitating positive adjustment to import competition.

The Commission shall hold a public hearing on the effectiveness of the action at which all interested parties shall be afforded opportunity to present evidence or testimony.

CHAPTER Ill

SPECIAL SAFEGUARD MEASURE

FOR AGRICULTURAL PRODUCTS

SEC. 21. Authority to Impose the Special Safeguard Measure. - The Secretary of Agriculture shall issue a department order requesting the Commissioner of Customs, through the Secretary of Finance, to impose an additional special safeguard duty on an agricultural product, consistent with Philippine international treaty obligations, if:

(a) Its cumulative import volume in a given year exceeds its trigger volume, subject to the conditions stated in this Act, in Section 23 below; or but not concurrently; and

(b) Its actual c.I.f. import price is less than its trigger price subject to the conditions stated in this Act, in Section 24 below.