Preamble
WHEREAS, Presidential Decree No. 420 provided for the creation of the Philippine Racing Commission which shall have exclusive jurisdiction and control over every aspect of the conduct of horse-racing, including the framing and scheduling of races, the construction and safety of racetracks, the allocation of prizes, and the security of racing; and WHEREAS, it is necessary to provide clearly for the abolition of the Jockeys and Horse Trainers Injury, Disability and Death Compensation Board and the transfer of its function to the Philippine Racing Commission; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree: