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

SECTION 1. Section six of Republic Act Numbered Thirty hundred eighty-nine, otherwise known as "The Gold Mining Industry Assistance Act of 1961," is hereby amended to read as follows:

"SEC. 6. Term.&mdashThis direct assistance shall be effective for a period of six years from the date of approval of this Act."

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

Approved, June 22, 1963.