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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 88 - AMENDING
Sec. 6 OF REPUBLIC ACT NO. 6632 ENTITLED “AN ACT GRANTING THE
PHILIPPINE RACING CLUB, INC., A FRANCHISE TO OPERATE, AND MAINTAIN A
RACE TRACK FOR HORSE RACING IN THE PROVINCE OF RIZAL”AND FOR OTHER
PURPOSES
WHEREAS,
Pursuant to the Charter of the Philippine Racing Club, Inc., receipts
from betting corresponding to the fractions of less than ten (10)
centavos, commonly known as “breakage” shall be eliminated from the
dividends paid to the winning tickets and allocated to certain named
beneficiaries;
WHEREAS, the Philippine Racing Commission needs additional funding for
its operations and activities in connection with horse racing, as well
as the horse-breeding activities of its National Stud Farm;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Republic of the
Philippines, do hereby order:
Section 1.
“Sec.
6.
Sec. 2.
Sec. 3.
Sec. 4.
Done in the City of Manila,
this 16th day of December in the year of Our Lord, nineteen hundred and
eighty-six.
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