PHILIPPINE LAWS, STATUTES & CODES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW
ACT NO. 5430
REPUBLIC ACT NO. 5430 - AN
ACT GRANTING RJL MARTINEZ FISHING CORPORATION A FRANCHISE TO CONSTRUCT,
OPERATE AND MAINTAIN AN ICE FLAKE PLANT IN THE CITY OF MANILA AND TO
DISTRIBUTE AND SELL ICE FLAKES THEREIN
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1. Subject to the terms and conditions established in
this Act and in Commonwealth Act Numbered One hundred forty-six, as
amended, and to the provisions of the Constitution, there is hereby
granted to RJL Martinez Fishing Corporation for a period of twenty-five
years from the approval of this Act, the right, privilege and authority
to construct, operate and maintain an ice flake plant at Muelle de la
Industria, City of Manila, for the purpose of manufacturing ice flakes
for distribution and sale to fishermen and to collect a schedule of
prices and rates therefor which schedules shall at all times be subject
to regulation by the Public Service Commission or its legal
Sec. 2. The grantee shall manufacture and supply
ice flakes up to one hundred twenty tons per day, the limit of the
capacity of its plants.
Sec. 3. The apparatus and appurtenances to be used
by the grantee shall be modern, safe and first class in every respect,
and the grantee shall change or alter any of its apparatus and
appurtenances at its expense whenever the Public Service Commission
shall determine that public interest reasonably requires it.
Sec. 4. If the grantee shall have commence the
construction and operation of the ice flakes plant within two years
from the approval of this Act, unless prevented by an Act of God or
force majeure, martial law, riot, civil commotion, usurpation by a
military power or any other cause beyond the grantee's control, this
franchise shall become null and void.
Sec. 5. This franchise is granted with the
understanding and upon the condition that it shall be subject to
amendment, alteration, or repeal by the Congress of the Philippines
when the public interest so requires.
Sec. 6. The books, records and accounts of the
grantee shall always be open to the inspection by the city treasurer or
his authorized representatives, and it shall be the duty of the grantee
to submit to the city treasurer quarterly reports in duplicate showing
the gross receipts for the past quarter, one of which shall be
forwarded by the city treasurer to the Auditor General who shall keep
the same on file.
Sec. 7. In consideration of the franchise and
rights hereby granted, the grantee shall pay a franchise tax equal to
five per centum of the gross earnings under this franchise, two per
centum of which shall accrue to the National Government and three per
centum to the city where the franchise is in operation.
Sec. 8. This franchise is granted subject to the
provisions of Commonwealth Act Numbered One hundred forty-six, as
amended, only with respect to the city where the franchise is in
Sec. 9. In the event of any competing person,
natural or juridical, receiving from the Congress of the Philippines a
similar franchise in which there shall be any term or terms more
favorable than those herein granted or tending to place the herein
grantee at any disadvantage, then such term or terms shall ipso facto
become a part of the terms hereof and shall operate equally in favor of
the grantee as in the case of such competing person.
SECTION 10. This Act shall take effect upon its
Enacted without Executive
approval, June 15, 1968.
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