Amendment to R.A. No. 309 (Horse-Racing Regulation Act)
Republic Act No. 474, enacted on June 9, 1950, amends Section 19 of Republic Act No. 309, which regulates horse racing in the Philippines. The amendment specifies that from the 12.5% commission earned by race-tracks or racing clubs, 0.5% of the total wager funds and 25% of the breakage must be allocated to a special fund for the Commission on Races. This fund is intended to cover the Commission's expenses and other authorized purposes. The act took effect immediately upon approval and was published in the Official Gazette in July 1950.
Law Information
- Reference Number
- Republic Act No. 474
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 9, 1950
REPUBLIC ACT NO. 474
AN ACT TO AMEND SECTION NINETEEN OF REPUBLIC ACT NUMBERED THREE HUNDRED AND NINE, ENTITLED "AN ACT TO REGULATE HORSE-RACING IN THE PHILIPPINES"
SECTION 1. The first sentence of the proviso appearing in section nineteen of Republic Act Numbered Three hundred and nine is amended to read as follows:
"Provided, however, That of the twelve and one-half per centum representing the commission of the person, race-track, racing club, or any other entity holding horse-racing, an amount equivalent to one-half per centum of the total wager funds or gross receipts from the sale of tickets, plus twenty-five per centum of the breakage, shall be set aside and turned over by the person, race-track, racing club, or any other entity holding horse-racing as a special fund to the Commission on Races to cover its expenses and such other purposes authorized under this Act."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 9, 1950
Published in the Official Gazette, Vol. 46, No. 7, p. 2980 in July 1950
Cite This Law
Amendment to R.A. No. 309 (Horse-Racing Regulation Act), Republic Act No. 474, Jun 9, 1950 (Philippines)
Amendment to R.A. No. 309 (Horse-Racing Regulation Act), Republic Act No. 474 (Phil. 1950)
Related Laws
- Horse-Racing Regulation ActRepublic Act No. 309 • Jun 18, 1948 • Statutes
- Grant of Franchise to Starland Racing Corp. (Racetrack for Horse Racing)Republic Act No. 8511 • Feb 13, 1998 • Statutes
- Amendment to R.A. No. 309 Re: Horse Racing DaysRepublic Act No. 2325 • Jun 19, 1959 • Statutes
- Amendment to R.A. No. 309 Re: Distribution of Horse Racing ReceiptsRepublic Act No. 6115 • Aug 4, 1969 • Statutes
- Amendment to R.A. No. 309 Re: Record of Horse-Racing Tickets SoldRepublic Act No. 332 • Jul 15, 1948 • Statutes
- Amending R.A. No. 309 Re: Horse Racing DaysRepublic Act No. 983 • May 29, 1954 • Statutes
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