Republic Act No. 5152: An act to amend republic act numbered forty-three hundred ninety, entitled "an act granting diosdado rodriguez a franchise to construct, operate and maintain an ice plant in the municipality of olongapo, province of zambales and to sell ice in said municipality and in the province of zambales"

Republic Act No. 5152

An act to amend republic act numbered forty-three hundred ninety, entitled "an act granting diosdado rodriguez a franchise to construct, operate and maintain an ice plant in the municipality of olongapo, province of zambales and to sell ice in said municipality and in the province of zambales"

An Act to Amend Republic Act Numbered Forty-Three Hundred Ninety, Entitled "An Act Granting Diosdado Rodriguez a Franchise to Construct, Operate and Maintain an Ice Plant in the Municipality of Olongapo, Province of Zambales and to Sell Ice in Said Municipality and in the Province of Zambales"

In plain language

The Act amends Section 5 of Republic Act No. 439 to allow the grantee to sell, lease, grant, convey, assign, give in usufruct, or transfer the franchise and all associated property and rights, and to mortgage the franchise in favor of the Development Bank of the Philippines or other government-owned or controlled lending institutions. The Act takes effect upon approval.

Amendment to Section 5 of RA 439 allowing sale, lease, grant, transfer, and mortgage of franchise.

Act takes effect upon approval.

Franchise

Ice Plant

Zambales

Legislation

Amendment

REPUBLIC ACT No. 5152

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

Section five of Republic Act Numbered Forty-three hundred ninety is hereby amended to read as follows:

"Sec. 5. The grantee, with the approval of the Congress of the Philippines first had, may sell, lease, grant, convey, assign, give in usufruct, or transfer this franchise and all property and rights acquired thereunder to any qualified individual, association or corporation competent to operate the business hereby authorized: Provided, However, That the grantee is hereby authorized to mortgage this franchise in favor of the Development Bank of the Philippines or any other government-owned or controlled lending institution.

Section 2

This Act shall take effect upon its approval.

Approved: June 17, 1967.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.