REPUBLIC ACT NO. 4703 - AN ACT AMENDING THE TITLE AND SECTION ONE OF REPUBLIC ACT NUMBERED FOUR THOUSAND SIX HUNDRED THIRTY-TWO, ENTITLED "AN ACT AUTHORIZING THE PHILIPPINE CHARITY SWEEPSTAKES OFFICE TO HOLD ONE LOTTERY FOR THE BENEFIT OF QUEZON INSTITUTE."

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The title of Republic Act Numbered Four thousand six hundred thirty-two is hereby amended to read as follows:

"An Act authorizing the Philippine Charity Sweepstakes Office to hold one lottery annually, for the benefit of the Quezon Institute, in addition to those now provided by law."

SEC. 2. Section one of the same Act is hereby amended to read as follows:

"SECTION I. The Philippine Charity Sweepstakes Office is hereby authorized to hold one lottery annually, in addition to those now provided by law, the proceeds of which shall after deducting the prizes and expenses as provided for in Republic Act Numbered Eleven hundred sixty-nine, as amended, be turned over to Quezon Institute for its support and maintenance. Expenses incurred thereon shall be subject to accounting and auditing regulations."

SEC. 3. This Act shall take effect upon its approval.

Approved, June 18, 1966.