REPUBLIC ACT NO. 3005 AN ACT TO AMEND PARAGRAPHS 71.02, 71.03 AND 71.04 OF CHAPTER 71, SCHEDULE XIV, OF REPUBLIC ACT NUMBERED NINETEEN HUNDRED THIRTY-SEVEN, OTHERWISE KNOWN AS TARIFF AND CUSTOMS CODE OF THE PHILIPPINES, AND FOR OTHER PURPOSES. June 18, 1960

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

SECTION 1. Paragraph 71.02  of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:

"Precious and semiprecious stones, unworked, cut or otherwise worked, but neither set nor strung (except ungraded stones temporarily strung for convenience of transport):
A. Industrial diamonds ........................................................	ad val. 10%
B. Others............................................................................	ad val. 150%"

SEC. 2. Paragraph 71.03 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:

"Synthetic or reconstructed precious or semiprecious stones, unworked, cut or otherwise worked, but neither set nor strung (except ungraded stones temporarily strung for convenience of transport):
A. Industrial diamonds ........................................................	ad val. 10%
B. Others............................................................................	ad val. 100%"

SEC. 3. Paragraph 71.04 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:

"Dust and powder of natural or synthetic precious or semiprecious stones ..........

ad val. 10%"

SEC. 4. This Act shall take effect upon its approval. Enacted without Executive approval, June 19, 1960.