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H. No. 4598 / 52 OG No. 9, 4204 (August 16, 1956)
[ REPUBLIC ACT NO. 1522, June 16, 1956 ]
AN ACT TO EXTEND THE EFFECTIVITY OF REPUBLIC ACT NUMBERED ELEVEN HUNDRED SIXTY-FOUR OTHERWISE KNOWN AS THE "EMERGENCY GOLD MINING ASSISTANCE ACT OF THE PHILIPPINES" BY AMENDING SECTION SEVEN THEREOF AND TO AMEND SECTION TWO, PARAGRAPH (A) AND SECTION OF SAID LAW.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. Section two, paragraph (a) of Republic Act Numbered Eleven hundred sixty-four, is hereby amended to read as follows:
SEC 2. Section four of Republic Act Numbered Eleven hundred and sixty-four is amended to read as follows:
SEC. 4. Section seven of Republic Act Numbered Eleven hundred sixty-four, is amended to read as follows:
SEC. 5. This Act shall take effect upon its approval.
Approved, June 16, 1956.
SECTION 1. Section two, paragraph (a) of Republic Act Numbered Eleven hundred sixty-four, is hereby amended to read as follows:
"SEC. 2. (a) "Gold producer" or "Gold mine" means, any person, corporation, partnership, or association which is producing gold either by itself or through an operating agreement on the date of the approval of this Act or which engages in the production of gold during the effectivity of this Act, either as principal product or as by-product;"
SEC 2. Section four of Republic Act Numbered Eleven hundred and sixty-four is amended to read as follows:
"SEC. 4. Mines with gold as principal product or as by-product.—Newly mined gold produced as principal product or as by-product may be sold either to the Government through the Central Bank in the form of refined gold at the current official price per ounce plus the assistance provided in section six hereof or in the domestic free market without benefit of the assistance, at the choice of the gold producer: Provided, however, That at least seventy-five per centum of all newly-mined gold produced by each mine either as principal product or as by-product shall be sold to the Government in accordance with the provisions of this Act: And provided, further, That mines producing gold as by-product shall only be entitled to the assistance given to mines over the marginal, classification."
"SEC. 3. The Board may, at its discretion, exclude from the benefits of this act any mine which may be found, upon due hearing, to be discriminating in such matter as, but not limited to, salaries, wages and management against Filipino technical men, employees and/or laborers."
SEC. 4. Section seven of Republic Act Numbered Eleven hundred sixty-four, is amended to read as follows:
"SEC. 7. Term.—This direct short term assistance shall be effective until July 18, 1957."
SEC. 5. This Act shall take effect upon its approval.
Approved, June 16, 1956.