PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACT NO. 5420 - AN ACT GRANTING MARINAS, INCORPORATED A FRANCHISE TO CONSTRUCT, OPERATE AND MAINTAIN AN ICE PLANT AND COLD STORAGE IN THE MUNICIPALITY OF TERNATE, PROVINCE OF CAVITE, AND TO SELL ICE AND SUPPLY COLD STORAGE IN THE SAID MUNICIPALITY
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 granted to
Marinas, Incorporated for a period of twenty-five years from the
approval of this Act, the rights, privilege and authority to construct,
operate and maintain an ice plant and cold storage in the Municipality
of Ternate, Province of Cavite, for the purpose of manufacturing ice
for distribution and sale, and for supplying cold storage within the
Municipality of Ternate, Province of Cavite, and to charge and collect
a schedule of prices and rates therefor which schedule shall at all
times be subject to regulation by the Public Service Commission.
Sec. 2. The grantee shall manufacture and supply ice up to the limit of the plant capacity of fifty tons for the first two years of operation, after which such plant capacity shall, within the next succeeding three years, be increased to two hundred tons; and it shall sell the ice at rates to be determined by the Public Service Commission.
Sec. 3. All the apparatus and appurtenances to be used by the grantee shall be modern, safe and first class in every respect, and the grantee, whenever the Public Service Commission shall have determined that public interest reasonably requires it, shall change or alter any of its apparatus and appurtenances at grantee's expense.
Sec. 4. If the grantee shall not commence the manufacture of ice for the distribution and sale in the Municipality of Ternate, Province of Cavite, 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 for inspection by the Auditor General or his authorized representatives, and it shall be the duty of grantee to submit to the Auditor General quarterly reports in duplicate showing the gross receipts for the quarter past.
Sec. 7. 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.
Sec. 8. This Act shall take effect upon its approval.
Enacted without Executive
approval, June 15, 1968.