[ REPUBLIC ACT NO.79, October 21, 1946 ]
AN ACT TO AUTHORIZE THE HOLDING BY THE PHILIPPINE CHARITY SWEEPSTAKE OFFICE OF HORSE RACES, WITH BETTING, ON SATURDAY AFTERNOONS, FOR CHARITABLE, RELIEF AND CIVIC PURPOSES.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION1. The provisions of existing laws to the contrary notwithstanding, the Board of Directors of the Philippine Charity Sweepstake Office is authorized to hold horse races, with betting, on such Saturday afternoons as it may determine for charitable, relief and civic purposes. Only native horses shall be allowed to run in any of these races.
SEC. 2. All proceeds derived from these races, after deducting the prizes customarily set aside for horses winning first, second, and third places and their jockeys; the prizes for the owners of the winning horses; and the necessary administration expenses not to exceed ten per centum of the gross receipts, shall be apportioned and distributed by the Board of Directors of the Philippine Charity Sweepstake Office to disabled veterans, war widows and orphans and to charitable, relief and civic organizations in such amounts and under such rules and regulations as may be approved by the President of the Philippines.
SEC. 3. The racing club holding these races shall be exempt from the payment of any municipal or national tax.
SEC. 4. The term "horses" when used in this Act shall be understood to refer to stallions and mares.
SEC. 5. This Act shall take effect upon its approval.
Approved, October 21, 1946.
SECTION1. The provisions of existing laws to the contrary notwithstanding, the Board of Directors of the Philippine Charity Sweepstake Office is authorized to hold horse races, with betting, on such Saturday afternoons as it may determine for charitable, relief and civic purposes. Only native horses shall be allowed to run in any of these races.
SEC. 2. All proceeds derived from these races, after deducting the prizes customarily set aside for horses winning first, second, and third places and their jockeys; the prizes for the owners of the winning horses; and the necessary administration expenses not to exceed ten per centum of the gross receipts, shall be apportioned and distributed by the Board of Directors of the Philippine Charity Sweepstake Office to disabled veterans, war widows and orphans and to charitable, relief and civic organizations in such amounts and under such rules and regulations as may be approved by the President of the Philippines.
SEC. 3. The racing club holding these races shall be exempt from the payment of any municipal or national tax.
SEC. 4. The term "horses" when used in this Act shall be understood to refer to stallions and mares.
SEC. 5. This Act shall take effect upon its approval.
Approved, October 21, 1946.