Republic Act No. 1299

An Act Amending Further Section Two Hundred Forty-Six of Commonwealth Act Numbered Four Hundred Sixty-Six, as Amended, by Defining the Words "Minerals" and "Mineral Products"

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1. Section two hundred and forty-six of Commonwealth Act Numbered Four hundred sixty-six, as amended by Republic Act Numbered Eight hundred thirty-four, is hereby amended to read as follows:

"Sec. 246. Definitions of the terms "gross output," "minerals" and "mineral products"— Disposition of royalties and ad valorem taxes. -The term "gross output" shall be interpreted as the actual market value of minerals or mineral products, or of bullion from each mine or mineral lands operated as a separate entity without any education from mining, milling, refining, transporting, handling, marketing, or any other expenses: Provided, However, That if the minerals or mineral products are sold or consigned abroad by the lessee or owner of the mine under C.I.F. terms, the actual cost of ocean freight and insurance shall de deducted. The output of any group of contiguous mining claims shall not be subdivided. The word "minerals" shall mean all inorganic substances found in nature whether in solid, liquid, gaseous, or any intermediate state.

Section 2. This Act shall take effect upon its approval.

Approved: June 16, 1955.