Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The corporate existence of the Baguio Country Club Corporation is hereby extended for fifty years counting from the nineteenth day of February, nineteen hundred and fifty-seven, subject to the filing by said corporation with the Securities and Exchange Commission of a copy of its amended articles of incorporation, duly certified to be correct by the president and the secretary of the corporation and a majority of the board of directors, setting out that its corporate existence is to expire fifty years from the nineteenth day of February, nineteen hundred and fifty-seven.

SEC. 2. The Securities and Exchange Commission shall be entitled to collect and receive for the filing of the amended articles of incorporation, referred to in section one, the same fees that it may be entitled to collect and receive for the filing of articles of incorporation as now provided by law.

SEC. 3. All Acts or parts of Acts inconsistent or in conflict with this Act are hereby repealed.

SEC. 4. This Act shall take effect upon its approval.

Enacted, without Executive Approval, June 23, 1957.