Republic Act No. 7324 (RA 7324) — An Act Increasing the Members of the Board of the Philippine Racing Commission, Amending for the Purpose Presidential Decree Numbered Four Hundred Twenty, as Amended

Section 1

SECTION 1. Section four of Presidential Decree Numbered Four hundred twenty is amended to read as follows: "SEC. 4. Membership of the Commission. - The Commission shall be composed of a chairman and six (6) members: Provided, That of the (6) members, there shall be one (1) representative of the Racehorse Owners Association, one (1) representative of the Jockeys Association and one (1) representative of the Trainers Association. The Commissioners shall be appointed by the President of the Philippines."

Section six of the same decree is hereby amended to read as follows: "SEC. 6. Meetings and Quorum.

Section 2

SEC. 2. Section six of the same decree is hereby amended to read as follows: "SEC. 6. Meetings and Quorum. - The Commissioners shall meet regularly once a week and as often as the exigencies of the service may demand, upon the call of the Chairman or upon the request of three (3) members of the Commission. The vote of at least four (4) members shall be necessary for the adoption of any rule, resolution or decision of the Commission."

Section 3

SEC. 3. This Act shall take effect upon its approval. Approved, (Sgd.) RAMON V. MITRA (Sgd.) NEPTALI A. GONZALES Speaker of the House of Representatives President of the Senate This bill which originated from the Senate was finally passed by the Senate and the House of Representatives on February 6, 1992 and February 3, 1992, respectively. (Sgd.) CAMILO L. SABIO (Sgd.) ANACLETO D.BADOY, JR. Secretary General House of Representatives Secretary of the Senate Approved: March 30, 1992 (Sgd.) CORAZON C. AQUINO President of the Philippines