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[ REPUBLIC ACT NO. 574, September 08, 1950 ]

AN ACT TO AMEND SECTION SIX OF ACT NUMBERED FORTY-ONE HUNDRED AND THIRTY, AS AMENDED.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1. Section six of Act Numbered Forty-one hundred and thirty, as amended, is hereby amended to read as follows:

"Section 6. The holding of horse races and sale of tickets authorized by this Act shall be exempt from the payment of any tax, except the tickets each of which shall bear a twelve-centavo internal revenue stamp. The tickets shall be printed in the Government Bureau of Printing and shall be considered as government securities, and any person forging or altering the same shall be subject to the provisions of the Revised Penal Code governing such cases."

Section 2. This Act shall take effect upon its approval.

Approved, September 8, 1950.

The Lawphil Project - Arellano Law Foundation

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