REPUBLIC ACT NO. 406 - AN ACT CREATING A MINES SPECIAL FUND IN THE BUREAU OF MINES TO BE USED FOR THE CANVASSING AND EVALUATION OF MINERAL DEPOSITS NEEDED IN THE DEVELOPMENT OF PHILIPPINE INDUSTRIES, AND THE PUBLICATION OF MINING STATISTICS AND DATA, AND FOR OTHER PURPOSES.

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

SECTION 1. There is hereby created a "Mines Special Fund" in the Bureau of Mines for the purpose of carrying out investigations and surveys to canvass, locate, and evaluate deposits of minerals needed in the development; Philippine industries; geological, topographical and mineralogical surveys; and the dissemination and publication of the results thereof and of information, statistics and data regarding mineral production and utilization, mining practices and methods, geologic investigations relative to mining engineering, construction and planning, and mining administration and operation.

SEC. 2. This fund shall consist of ten per centum of the total mining taxes paid to the Government, which fund shall be set aside at the beginning of each fiscal year and shall be placed at the disposal of the Secretary of Agriculture and Natural Resources.

SEC. 3. The Secretary of Agriculture and Natural Resources is hereby authorized, with the approval of the president of the Philippines, to fix the compensation, and allot traveling and other expenses, of such additional personnel as may be necessary to carry out the purposes aforesaid.

SEC. 4. This Act shall take effect upon its approval.

Approved, June 18, 1949.