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Memorandum Order No. 123
MEMORANDUM ORDER NO. 123 DELEGATING TO THE EXECUTIVE SECRETARY THE AUTHORITY TO APPROVE THE DISPOSITION OF PHILIPPINE CHARITY SWEEPSTAKES OFFICE FUNDS REQUIRING PRESIDENTIAL APPROVAL
SECTION 1. The Executive Secretary is hereby authorized to approve and sign "By authority of the President" all disposition of the PCSO’s charity fund requiring Presidential approval under Section 6(d) of R. A. 1169. This funds consists of the 25% of gross receipts from the sale of tickets for the races held under R. A. 1169, together with the receipts for the holding of the sweepstakes races and the proceeds realized from the holding of lotteries.
SECTION 2. All Presidential issuances or orders inconsistent with this Memorandum Order are hereby modified and/or repealed.
SECTION 3. This Memorandum Order shall take effect immediately.
DONE in the City of Manila, this 18th day of November, in the year of our Lord, Two Thousand and Three.
(Sgd) GLORIA MACAPAGAL-ARROYO By the President:
(Sgd) ALBERTO ROMULO
Executive Secretary