Republic Act No. 5152


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REPUBLIC ACTS




REPUBLIC ACT NO. 5152
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"

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."

Sec. 2. This Act shall take effect upon its approval.

Enacted without Executive approval, June 17, 1967.

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