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Republic Act
Approved August 15, 1991

Republic Act No. 7110

An act authorizing the transfer and assignment to the francisco n. cervantes, inc., of the franchise to establish and operate radio stations for domestic and international communications granted under republic act numbered fifty-nine hundred fifty-four to francisco n. cervantes, and all properties and rights acquired thereunder of francisco n. cervantes, and extending the term of the said franchise by twenty-five years

AN ACT AUTHORIZING THE TRANSFER AND ASSIGNMENT TO THE FRANCISCO N. CERVANTES, INC., OF THE FRANCHISE TO ESTABLISH AND OPERATE RADIO STATIONS FOR DOMESTIC AND INTERNATIONAL COMMUNICATIONS GRANTED UNDER REPUBLIC ACT NUMBERED FIFTY-NINE HUNDRED FIFTY-FOUR TO FRANCISCO N. CERVANTES, AND ALL PROPERTIES AND RIGHTS ACQUIRED THEREUNDER OF FRANCISCO N. CERVANTES, AND EXTENDING THE TERM OF THE SAID FRANCHISE BY TWENTY-FIVE YEARS

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In plain language

This Republic Act authorizes the transfer and assignment of the radio franchise granted under RA 5954 to Francisco N. Cervantes, Inc., extends its term by 25 years, mandates a public offering of at least 30% of the company’s shares with a 5% ownership cap, requires annual compliance reports to Congress, allows free use of facilities during emergencies, and sets the effective date fifteen days after publication.

  • Transfer and assignment of RA 5954 franchise to Francisco N. Cervantes, Inc.
  • Extension of franchise term by 25 years.
  • Public offering of at least 30% of common stocks within 3 years.
  • Ownership cap of 5% per entity.
  • Annual compliance reporting to Congress.
  • Free use of facilities during emergencies.
  • Effective date 15 days after publication.
Republic Act
Radio franchise
Public utilities
Ownership
Emergency use

Eighth Congress

REPUBLIC ACT No. 7110 August 15, 1991

AN ACT AUTHORIZING THE TRANSFER AND ASSIGNMENT TO THE FRANCISCO N. CERVANTES, INC., OF THE FRANCHISE TO ESTABLISH AND OPERATE RADIO STATIONS FOR DOMESTIC AND INTERNATIONAL COMMUNICATIONS GRANTED UNDER REPUBLIC ACT NUMBERED FIFTY-NINE HUNDRED FIFTY-FOUR TO FRANCISCO N. CERVANTES, AND ALL PROPERTIES AND RIGHTS ACQUIRED THEREUNDER OF FRANCISCO N. CERVANTES, AND EXTENDING THE TERM OF THE SAID FRANCHISE BY TWENTY-FIVE YEARS

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

Section 1. The sale, transfer and assignment to the Francisco N

Cervantes, Inc., a corporation organized and existing in accordance with the laws of the Philippines, of the franchise to construct, install, establish and operate radio stations for domestic and international communications granted under Republic Act Numbered Fifty-nine hundred fifty-four to Francisco N. Cervantes, and all properties and rights acquired thereunder of Francisco N. Cervantes, are hereby authorized and approved.

Section 2

In compliance with the constitutional mandate to democratize ownership of public utilities, the herein grantee shall make public offering through the stock exchanges of at least thirty percent of its common stocks within a period of three years from the date of the approval of this Act: provided, that no single person or entity shall be allowed to own more than five percent of the stock offerings.

Section 3. The Francisco N

Cervantes, Inc., shall henceforth be subject to the provisions of said Republic Act Numbered Fifty-nine hundred fifty-four.

Section 4

The term of the franchise granted under Republic Act Numbered Fifty-nine hundred fifty-four is hereby extended by another twenty-five years from March 4, 1999 which is the date of expiration thereof under the said Act.

Section 5

The grantee shall submit an annual report to the Congress of the Republic of the Philippines on its compliance with the terms and conditions of the franchise.

Section 6

The facilities subject of the franchise may be used for free in times of calamity or emergency by the police or fire protection service or by any duly licensed hospital, or by duly licensed educational institution, and by any sea, land or air transport in distress.

Section 7

This Act shall take effect fifteen (15) days from the date of its publication in at least two (2) newspapers of general circulation. Approved: . Lapsed into law without the President's signature on, August 15, 1991 in accordance with Article VI, Section 27 (1) of the Constitution

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.