FURTHER AMENDING REPUBLIC ACT NUMBERED ELEVEN HUNDRED THIRTY-FIVE ENTITLED, "AN ACT ESTABLISHING THE PHILIPPINE TOBACCO ADMINISTRATION, DEFINING ITS OBJECTIVES, POWERS AND FUNCTIONS, AND FOR OTHER PURPOSES,'' AS AMENDED.

• Number: Presidential Decree No. 1976
• Sections: 4

Preamble

WHEREAS, there is a need to revitalize the tobacco industry

by further improving its financing program through the Philippine Tobacco

Administration.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Philippines, by virtue of the powers vested in me by the Constitution and

Presidential Decree No. 1416, as amended, do hereby order and decree the

following:

Section 1

SECTION 1. Section fifteen of Republic Act Numbered Eleven

Hundred Thirty-Five, as amended, is hereby further amended to read as

follows:

"SEC. 15. Funding.—To carry out the

purposes of this Act, there is hereby created a special fund to be known as the

Cigar Tobacco Industry Promotion and Market Stabilization Fund which shall

consist of an amount equivalent to two and one-fourth per centum of the annual

gross collection from specific taxes on locally manufactured aromatic cigarettes

(Virginia-type) mentioned in Section 3 of Republic Act No. 5447. Such amount

shall be taken from the allocation for the Philippine Virginia Tobacco

Administration Fund under the said Act.''

Section 2

SEC. 2. All provisions of existing laws, orders, rules and

regulations inconsistent or incompatible with this decree are hereby repealed or

modified accordingly.

Section 3

SEC. 3. This decree shall take effect immediately.

Done in the City of Manila, Philippines, this 10th day of June, in the year

of Our Lord, nineteen hundred and eighty-five.