REPUBLIC ACT NO. 4793 - AN
ACT AMENDING SECTIONS ONE AND TWO OF REPUBLIC ACT NUMBERED FOUR HUNDRED
AND SIX, ENTITLED "AN ACT CREATING A MINES SPECIAL FUND IN THE BUREAU
OF MINES TO BE USED FOR THE CANVASSING AND EVALUATION OF MINERAL
DEPOSITS NEEDED IN THE DEVELOPMENT OF PHILIPPINE INDUSTRIES, AND THE
PUBLICATION OF MINING STATISTICS AND DATA, AND FOR OTHER PURPOSES"
Section 1. Section one of Republic Act Numbered Four hundred
and six is hereby amended to read as follows:
"Section 1. There is hereby created a "Mines Special
Fund" in the Bureau of Mines for the purpose of carrying out
investigations and surveys to canvass, locate, and evaluate deposits of
minerals needed in the development of Philippine industries;
geological, geophysical, geochemical, topographical and mineralogical
surveys; metallurgical and pilot plant testing of ores, investigation
and evaluation of geothermal fields and the dissemination and
publication of the results thereof and of information, statistics and
data regarding mineral production and utilization, mining practices and
methods, geologic investigations relative to mining engineering,
construction and planning, and operation; training of technical
personnel of the Bureau of Mines in specialized fields, and the
construction of buildings, metallurgical laboratories including the
University of the Philippines, pilot plants, and other facilities and
the purchase and maintenance of motor vehicles, equipment, apparatus,
furniture and supplies necessary to carry out the purposes aforesaid."
Sec. 2. Section two of the same Act is hereby
amended to read as follows:
"Sec. 2. This fund shall consist of ten per centum of
the total mining taxes paid to the Government and all royalties or
participation except ad valorem tax received by the Government in the
exploitation, processing and disposition of minerals in government
mineral reservations administered by the Secretary of Agriculture and
Natural Resources and/or the Director of Mines, which fund shall be set
aside at the beginning of each fiscal year and shall be placed at the
disposal of the Secretary of Agriculture and Natural Resources for the
purpose enumerated in Section one hereof."
Sec. 3. This Act shall take effect upon its
approval.
Approved: June 18, 1966
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