Creation of Mines Special Fund in Bureau of Mines
Republic Act No. 406, enacted on June 18, 1949, establishes a "Mines Special Fund" within the Bureau of Mines in the Philippines. This fund is designated for the investigation, survey, and evaluation of mineral deposits essential for the country's industrial development, as well as for the publication of mining-related statistics and data. It will be financed by allocating ten percent of total mining taxes collected by the government at the start of each fiscal year. The Secretary of Agriculture and Natural Resources is empowered to manage the fund and compensate additional personnel as needed, with the President's approval. The Act became effective upon its approval.
Law Information
- Reference Number
- Republic Act No. 406
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 18, 1949
REPUBLIC ACT NO. 406
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. 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, topographical and mineralogical surveys; 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 mining administration and operation.
SECTION 2. This fund shall consist of ten per centum of the total mining taxes paid to the Government, 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.
SECTION 3. The Secretary of Agriculture and Natural Resources is hereby authorized, with the approval of the President of the Philippines, to fix the compensation, and allot travelling and other expenses, of such additional personnel as may be necessary to carry out the purposes aforesaid.
SECTION 4. This Act shall take effect upon its approval.
Approved: June 18, 1949
Published in the Official Gazette, Vol. 45, No. 9, p. 3769 in September 1949
Cite This Law
Creation of Mines Special Fund in Bureau of Mines, Republic Act No. 406, Jun 18, 1949 (Philippines)
Creation of Mines Special Fund in Bureau of Mines, Republic Act No. 406 (Phil. 1949)
Related Laws
- Amendments to R.A. No. 406 Re: Mines Special FundRepublic Act No. 4793 • Jun 18, 1966 • Statutes
- Bureau of MinesCommonwealth Act No. 136 • Nov 7, 1936 • Statutes
- Salary Standardization for Officers and Employees of the Bureau of MinesRepublic Act No. 6385 • Aug 16, 1971 • Statutes
- Revising C.A. No. 136 Re: Creation of the Bureau of MinesPresidential Decree No. 1281 • Jan 16, 1978 • Presidential Issuances
- Grant of Mines Special Permits to Duly-Qualified ApplicantsLetter of Instructions No. 921 • Aug 30, 1979 • Presidential Issuances
- Granting Emergency Incentive Allowance for Certain Personnel of the Bureau of MinesPresidential Decree No. 398 • Feb 28, 1974 • Presidential Issuances
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