Section 1. Section four
of Act Numbered Forty-one hundred and thirty, as amended, is further
amended to read as follows:
"Sec.
4. The Board of Directors shall apply and apportion
the receipts from the sale of the tickets for said races as follows:
"Out of the gross receipts from
the sale of tickets, sixty-five per centum shall be deducted for the
payment of the prizes, including those to be paid to owners of winning
horses and their jockeys, and ten per centum for the expenses of the
management and holding of races. The prizes for winning horses and
horses placed second and third shall be in direct proportion to the
three main prizes for winning tickets and shall be ten per cent
thereof. The remaining twenty-five per centum together with the
receipts for the holding of the sweepstakes races shall be apportioned
by the Board of Directors, with the approval of the President of the
Philippines, after due consideration of the recommendations of the
Secretary of Health and Public Welfare and shall be paid over by said
Board among and to institutions or organizations engaged in charitable,
relief, civic, and health work or work for the improvements of the
conditions of the indigent Filipino masses in this country or abroad:
Provided, That out of the sixty-five per centum intended for the
payment of prizes, including those to be paid to the owners of winning
horses and their jockeys, there shall be deducted ten per centum
thereof which shall be allotted to the provinces and cities in the
Philippines, excepting the City of Manila, in proportion to the
collections therein made and under such rules and regulations as the
Board of Directors may prescribe, the amounts so allotted to be
expended by the corresponding provincial and city governments for the
maintenance of provincial, city and municipal hospitals, and for other
health, social welfare, civic, and charitable work in their respective
jurisdictions. chan
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"No aid from the proceeds of the
sweepstakes herein authorized shall be given to any charitable
organization not granted a special charter by law, unless it shall have
first complied with the rules and regulations issued by the Board of
Directors and approved by the President of the Philippines governing
the disposition of the sweepstakes fund and unless provision is
contained in its by-laws to the effect that any property acquired or
which it may acquire from the funds given to it under this Act shall
not be sold or otherwise disposed of without the approval of the
President of the Philippines, and that in event of its dissolution, all
its properties shall be transferred to and shall automatically become
the property of the Philippine Government.
"The funds given to any
institution by virtue of this section shall be used for no other
purpose than those authorized by the Board of Directors."
Sec. 2. This
Act shall take effect upon its approval.
Approved: October 21,
1946
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