Excerpts from the minutes of the meeting of the Board of the Philippine Racing Commission (Philracom) held on 5th of June 2013 at 4th Floor Electra House Bldg., Esteban St., Makati City.

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WHEREAS, it is the declared policy of the Philippine Racing Commission to promote and direct the accelerated development and continuous growth of horse racing not only in furtherance of the sports development program of the government, but also in order to ensure the full exploitation of horse racing as a source of revenue and employment;

WHEREAS, horse racing should be given the impetus for development so as to fully take advantage of its revenue-earning and employment-giving declared policy;

WHEREAS, the above declared policy is defeated in case of threats leading or indicating to cancellation of the scheduled race due to equivocal conflicts, disruptions and other disturbances inimical to the interest of the Government generally categorized as State of Emergency;

NOW THEREFORE, be it RESOLVED, that in case of threats of whatever nature indicating or leading to the cancellation of a scheduled race by any racing club due to State of Emergency situations the Philippine Racing Commission, for the protection of the interest of the Government with respect to Horse Racing in the country, may order the waiver of rules and restrictions, such as but not limited to:

• Reduction of minimum in betting numbers for a race to run

• Reduction of minimum number of days of rest for runners

• Adjustments on the time limits or deadlines in declaration, drawing of lots and others

• Relaxing the time restrictions on race operations such as entries in saddling paddocks, parade, post time and the likes

• Other restrictions that will defeat the spirit of the intents and purpose of this resolution

RESOLVED FURTHER, to authorize the Executive Director, Deputy Executive Director, and any Chief of Division of the Commission that may be deputized by the Chairman to implement and coordinate with all licensees and stakeholders to put in effect such orders;

RESOLVED FINALLY that this resolution will take effect today June 5, 2013 until further orders by the Board of Commissioners of PHILRACOM and may be re-implemented every time such a threat is imminent or present with an authentication by an empowering "Notice of Implementation of State of Emergency Resolution" signed by the majority of the Board of Commissioners of PHILRACOM.

APPROVED AND SIGNED by the undersigned Chairman and Commissioners of the Philippine Racing Commission this 5th of June 2013 at Makati City, Philippines.