Section 2. Utilization of Fund. —

All collections of the Coconut Consumers Stabilization Fund Levy shall be utilized by the Authority for the following purposes:

  1. When the national interests so requires, to provide a subsidy for coconut-based products the amount of which subsidy shall be determined on the basis of the base price of copra or its equivalent as fixed by the Authority and the pieces of coconut-based products as fixed by the Price Control Council;

  2. To refund wholly or in part any premium duty collected on copra or its equivalent sold prior to February 17, 1974;

  3. To finance the development and operating expenses of the Philippine Coconut Producers Federation including projects such as scholarships for the benefit of deserving children of the coconut farmers; and

  4. To finance the establishment and operation of industries and commercial enterprises relating to the coconut and other palm oil industry as described in Section 9 hereof.