Law Summary
Authorization for an Additional Annual Lottery
- PCSO is explicitly authorized to conduct one lottery annually beyond existing lottery authorizations.
- The lottery proceeds, after the deduction of prizes and expenses, shall be allocated to the support and maintenance of the Quezon Institute.
- The deductions for prizes and expenses will follow the provisions set forth in Republic Act No. 1169, as amended.
- All expenses incurred in conducting the lottery must comply with government accounting and auditing regulations.
Effectivity
- The amendments provided by this Act take effect immediately upon approval by the appropriate authorities.
- This ensures the PCSO can proceed with the additional lottery without delay.
Key Legal Concepts and Provisions
- The legislative amendment focuses solely on the authorization of one additional lottery annually by the PCSO.
- The allocation of net proceeds to a specific government health institution, the Quezon Institute, underscores a targeted funding mechanism.
- Adherence to existing legal standards regarding prize distribution, expense deductions, and financial accountability emphasizes transparency and regulatory compliance.
- The Act supplements, rather than replaces, existing lottery laws relating to the PCSO's operations.