.
Sponsored
by: The
ChanRobles Group
A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the Chan Robles Virtual Law Library.
Search
for www.chanrobles.com
|
|
|
|
|
REPUBLIC ACT NO. 4114 - AN ACT TO
FURTHER AMEND THE FIRST PARAGRAPH OF SECTION FIFTEEN OF ARTICLE EIGHT
OF REPUBLIC ACT NUMBERED ELEVEN HUNDRED AND THIRTY-FIVE, ENTITLED "AN
ACT ESTABLISHING THE PHILIPPINE TOBACCO ADMINISTRATION, DEFINING ITS
OBJECTIVES, POWERS AND FUNCTIONS, AND FOR OTHER PURPOSES," BY EXTENDING
THE CAPITALIZATION, AND FOR OTHER PURPOSES
|
| SECTION
1. The first paragraph of Section fifteen, Article
eight of Republic Act Numbered Eleven hundred and thirty-five, as
amended by Republic Act Numbered Twenty-two hundred and thirty-three,
is hereby further amended to read as follows: "Sec. 15. Capitalization. — To carry out the purpose of this Act, there is created a special fund to be known as the "Tobacco Industry Promotion Fund" which shall be taken from the taxes derived from the tobacco industry to be made available as follows: ten million pesos, which is hereby appropriated for the fiscal year nineteen hundred sixty four and nineteen hundred sixty-five, and, thereafter, an annual appropriation of ten million pesos is authorized for a period of five years, which shall be released not later than the end of the third quarter of every fiscal year. This fund will be apportioned in the following manner: fifteen per cent will be spent for operating expenses; seventy-five per cent will be used for native tobacco cigar fillers trading; and ten per cent for researches to improve the tobacco industry in all its phases." SECTION 2. This Act shall take effect upon its approval. Approved: June 20, 1964 |
chanroblesvirtuallawlibrary
|
|
|
|
|
Harvard Computer Systems, Inc. |
Since 19.07.98.
Search
for www.chanrobles.com
.