R.A. 1328

REPUBLIC ACT No. 1328

AN ACT TO AMEND REPUBLIC ACT NUMBERED SIX HUNDRED AND THIRTY-TWO, BY ENLARGING THE POWERS, FUNCTIONS AND DUTIES OF THE PHILIPPINE SUGAR INSTITUTE, PROVIDING FOR THE FINANCING THEREOF, AND FOR OTHER PURPOSES.

Section 1. Section two of Republic Act Numbered Six hundred and thirty-two is hereby amended to read as follows:

Section 2. Purposes and Objectives. The PHILSUGIN shall have the following purposes and objectives:

Section 2. Section three of Republic Act Numbered Six hundred and thirty-two is hereby amended to read as follows:

Section 3. Specific and General Powers. For carrying out the purposes mentioned in the preceding section, the PHILSUGIN shall have the following powers:

Section 3. A section is hereby inserted between sections sixteen and seventeen of Republic Act Numbered Six hundred and thirty-two, to be known as section sixteen-A, to read as follows:

Section 16- A. The proceeds of all collections made under Commonwealth Act Numbered Five hundred and sixty-seven, shall constitute a special fund and accrue to the Sugar Research and Stabilization Fund which shall likewise be available for the maintenance, operation and use of the Philippine Sugar Institute."

Section 4. This Act shall take effect upon its approval.

Approved: June 16, 1955.