Section 2
SEC. 2. All proceeds derived from these races, after deducting the prizes customarily set aside for horses winning first, second, and third places and their jockeys; the prizes for the owners of the winning horses; and the necessary administration expenses not to exceed ten per centum of the gross receipts, shall be apportioned and distributed by the Board of Directors of the Philippine Charity Sweepstake Office to disabled veterans, war widows and orphans and to charitable, relief and civic organizations in such amounts and under such rules and regulations as may be approved by the President of the Philippines.