Be it enacted by the Senate and House of Representatives of the Philippines in Legislature assembled and by the authority of the same:

SECTION 1. Section one of Act Numbered Thirty-nine hundred and eighty-nine is hereby amended so as to read as follows:

"SECTION  1. The celebration of a charity horse race sweepstake once a year is hereby authorized under the conditions provided in this Act, all laws to the contrary notwithstanding.

"The celebration of the said charity horse race sweepstake shall be made under the supervision and control of board of trustees composed of nine members, including the Secretary of Finance who shall be ex officio chairman. The other members shall be appointed by the Governor-General upon the recommendation of the Secretary of Finance. The members shall be citizens of the Philippine Islands or of the United States but any three thereof may be subjects or citizens of three different foreign countries, residing in the Philippine Islands. They shall serve for one year unless reappointed and shall not receive any remuneration or salary for their services.

"The board of trustees shall have the following powers and duties: To adopt rules and regulations governing the yearly celebration of the charity horse race sweepstake and the sale of the tickets thereof; to fix the date of the horse race each year and the closing of the sale of tickets; to appoint a manager, who shall carry out the resolutions and wishes of the board of trustees, a publicity agent, and the necessary clerical force; to fix their salaries, and remove them for cause; to buy, purchase, lease, rent or hire such property, real or personal, as may be necessary and advisable in carrying out the charity horse race sweepstake, and to enter into such contracts, agreements, or obligations, as may be necessary and indispensable for carrying out the purpose of this act; and to do such act or acts incidental to the powers herein granted and such other act or acts as may be necessary and proper for the carrying out of the purpose of this law."

SEC. 2. The first paragraph of section two of the same Act is amended so as to read as follows:

"SEC. 2. Out of the gross proceeds from the sale of tickets of the charity horse race sweepstake not more than seventy nor less than sixty per centum shall be devoted to prizes for the winning tickets of the sweepstake, the number and amount of which shall be previously determined and fixed by the board of trustees, and the remainder together with the income from other sources, after deducting all the necessary expenses incidental to the carrying out of the purposes of this Act, shall be distributed and paid by the board of trustees to the entities and in the proportion named below";

SEC. 3. This Act shall take effect on its approval.

Approved, February 18, 1933.