Amendment on labeling price tags law

Section 1 requires that all articles of commerce and trade offered for sale to the public at retail must be publicly displayed with appropriate tags or labels.
Section 1 requires tags or labels to indicate the price of each article.
Section 1 requires that the articles be sold uniformly and without discriminations at the stated price.
Section 1 applies to retail sale to the public.

Section 1 requires lumber dealers to tag or label lumber offered for sale to the public.
Section 1 requires the lumber label to indicate the price.
Section 1 requires the lumber label to indicate the corresponding official name of the wood.
Section 1 requires the labeling to enable buyers to distinguish one species of wood from the others.

Section 1 authorizes the Secretary of Commerce and Industry, upon the recommendation of the Director of Commerce, to exempt from time to time certain articles of commerce and trade or certain classes of establishments.
Section 1 requires exemption decisions to be made through the Secretary’s authority exercised upon the Director of Commerce’s recommendation.
Section 1 authorizes the Secretary of Commerce and Industry to issue rules and regulations to carry into effect the requirements of Section 1.

Section 1 amends Section 1 of Republic Act No. 71 by replacing it with the amended requirements on retail price tags/labels.
Section 2 makes Republic Act No. 1074 effective upon its approval without any further publication or waiting period stated.