Section 1.    Paragraph 71.02 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:

"Precious and semiprecious stones,
    unworked, cut or otherwise
    worked, but neither set nor
    strung (except ungraded stones
    temporarily strung for convenience
    of transport):

A.    Industrial diamonds    ad val. 10%

B.    Others    ad val. 150%"

Sec. 2.    Paragraph 71.03 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:

"Synthetic or reconstructed precious
    or semiprecious stones, unworked,
    cut or otherwise worked, but neither
    set nor strung (except ungraded
    stones temporarily strung for
    convenience of transport):  

A.    Industrial diamonds    ad. val. 10%

B.    Others    ad val. 100%"

Sec. 3.    Paragraph 71.04 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:

"Dust and powder of natural or
    synthetic precious or semiprecious
    stones    ad val. 10%

Sec. 4.    This Act shall take effect upon its approval.

Enacted without executive approval, June 19, 1960.