Allocation of Shares.
Section 292
SECTION 292. Allocation of Shares. - The share in the preceding section shall be distributed in the following manner: (a) Where the natural resources are located in the province: (1) Province - Twenty percent (20%); (2) Component City/Municipality - Forty-five percent (45%); and (3) Barangay - Thirty-five percent (35%) Provided, however, That where the natural resources are located in two (2) or more provinces, or in two (2) or more component cities or municipalities or in two (2) or more barangays, their respective shares shall be computed on the basis of: (1) Population - Seventy percent (70%); and (2) Land area - Thirty percent (30%) (b) Where the natural resources are located in a highly urbanized or independent component city: (1) City - Sixty-five percent (65%); and (2) Barangay - Thirty-five percent (35%) Provided, however, That where the natural resources are located in such two (2) or more cities, the allocation of shares shall be based on the formula on population and land area as specified in paragraph (a) of this section.