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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 89 - AMENDING
Sec. 4 OF REPUBLIC ACT NO. 6631 ENTITLED “AN ACT GRANTING MANILA
JOCKEY CLUB, INC. A FRANCHISE TO CONSTRUCT, OPERATE AND MAINTAIN A RACE
TRACK FOR HORSE RACING IN THE CITY OF MANILA OR IN THE PROVINCE OF
BULACAN” AND FOR OTHER PURPOSES
WHEREAS,
pursuant to the Charter of the Manila Jockey Club, Inc., receipts from
betting corresponding to the fractions of less than ten (10) centavos,
commonly known as “breakage”, shall be eliminated from the dividend
paid to the winning tickets and allocated to certain named
beneficiaries;
WHEREAS, the Philippine Racing Commission needs additional funding for
its operations and activities is 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.
4.
Sec. 2.
Sec. 3.
Sec. 4.
Manila, December 16, 1986.
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