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Act
Approved June 15, 1968

Republic Act No. 5393

An act authorizing jesus b. pacquing to assign or mortgage his franchise to any government-owned or controlled financial and/or banking institution

An Act Authorizing Jesus B. Pacquing to Assign or Mortgage His Franchise to Any Government-Owned or Controlled Financial and/or Banking Institution

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In plain language

This act authorizes Jesus B. Pacquing to assign or mortgage his franchise granted under Republic Act No. 444 to any government-owned or controlled financial and/or banking institution, with the machinery and equipment used in the business mortgaged together with the franchise. The act takes effect upon its approval.

  • Authorizes assignment/mortgage of franchise under RA 444
  • Includes machinery and equipment mortgaged together
  • Effective upon approval
Franchise
Assignment
Mortgage
Government-Owned
Financial Institution

REPUBLIC ACT No. 5393

An Act Authorizing Jesus B. Pacquing to Assign or Mortgage His Franchise to Any Government-Owned or Controlled Financial and/or Banking Institution

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

Section 1. Any provision of law to the contrary notwithstanding, Jesus B

Pacquing is hereby authorized to assign or mortgage his franchise granted under Republic Act Numbered Forty-three hundred and forty-four, to any government-owned or controlled financial and/or banking institution: Provided, However, That the machineries and equipment used in the business are also mortgaged together with the franchise.

Section 2

This Act shall take effect upon its approval.

Approved: June 15, 1968.

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.