Section 7. Definition of Terms. When used under this ordinance, the following terms and phrase shall be construed to mean as :

  • a) Board shall refer to the Miagao Investment Incentives Board ( MIIB ) created under this ordinance . 
  • b) Municipality shall mean the Municipality of Miagao covering all the areas within its territorial jurisdiction as provided for by law. 
  • c) Ordinance shall refer to the Comprehensive Investment Incentives Ordinance of the Municipality of Miagao. 
  • d) Existing establishments/enterprises shall refer to those establishments/enterprises whose places of operation or production are located within the territorial jurisdiction of the Municipality at the time of the approval of this ordinance and those who registered or started its operation in the Municipality of Miagao in 2005. 
  • e) New investors shall refer to those prospective investors who have not engaged in any kind or type of business in the municipality or have not engaged in full commercial operation at the time of the approval of this ordinance. 
  • f) Local personnel/workers refer to workers or personnel who are bonafide residents of the Municipality of Miagao. 
  • g) Registered and qualified enterprises shall mean any individual, partnership, cooperative, corporation or other entity incorporated and/or organized and existing under Philippine laws, or the laws of the country or residence or registration in the case of foreigners; 
  • h) Processing shall mean converting of raw materials into marketable form through physical mechanical electrical, biochemical, biological or other means or by a special treatment or a series of action, such as slaughtering, milling, pasteurizing the products. Merely packaging or repacking shall not constitute processing.