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and acceptable to them.
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Sec. 101. Scientific research and deveiopment fund. - A Scientific Research and
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Development Fund shall be set aside to be devoted to research and development of
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clean mining technologies, improvement of mining processes, mine rehabilitation,
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mitigating technologies, setting up and maintenance of an independent pool of experts,
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and operational expenses of the Bureau.
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Sec. 102. Legai support services fund. - A legal support fund shall be set aside
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for the use of the communities and local government units for cases that they may file
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against mining permittees or cases that may be filed against them by mining companies
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in trying to do their responsibility of protecting the rights of the marginalized groups,
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the environment and sustainable development in general.
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Sec. 103. Locai Government Unit share. - Local Government Units shall be
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entitled to a share of the net revenues from mining operations which shall be paid
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directly to the provincial/independent component city/highly urbanized city treasurer/s
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for distribution to other local government units. To determine the government share,
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the following variables shall be considered:
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a)
Classification of local government;
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b)
Vulnerability; and
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c)
Human development index.
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A percentage of this amount shall be set aside by the respective local government units
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for Disaster Risk Management.
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territory of the local government unit. Provided, That the administrative and operational
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expenses of the Council shall also be taken from this share.
This fund shall likewise benefit ICCs/IPs within the
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Sec. 104. Mine wastes and taiiings fees. - A semi-annual fee to be known as
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mine wastes and tailings fee is hereby imposed on all operating mining companies in
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accordance with the implementing rules and regulations. The mine wastes and tailings
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fee shall accrue to a fund to be used as support funds for monitoring activities of the
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Council. The Secretary is authorized to increase mine wastes and tailings fees, when
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public interest so requires.
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Sec. 105. Incentives. - Incentives that shall be given to the contractors shall only
be limited to pollution control or mitigation devices.
Sec.
106. Deposit o f capitai and profits requirem ent -
As part of their
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demonstrated financial capacity, all large-scale mining companies/contractors are
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required to deposit their capital investment and profits in banks or financial institutions
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that are owned, managed and operated by the Philippine government.
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Sec. 107. Generai ruie on p ro fit repatriation. - Contractors with foreign financial
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