PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW LIBRARY
REPUBLIC ACTS
| REPUBLIC ACT NO. 8148 - AN ACT
FURTHER EXTENDING THE TERM OF THE FRANCHISE GRANTED TO CONSUELO D.
BORJA NOW PRESENTLY HELD BY ILIGAN LIGHT AND POWER, INC., HER
SUCCESSOR-IN-INTEREST, UNDER REPUBLIC ACT NUMBERED SIX THOUSAND THREE
HUNDRED NINETY-ONE, ORIGINALLY GRANTED TO CONSUELO D. BORJA UNDER ACT
NUMBERED THREE THOUSAND EIGHT HUNDRED TEN FOR A PERIOD OF TWENTY-FIVE
(25) YEARS FROM THE DATE OF ITS EXPIRATION, AND FOR OTHER PURPOSES. |
| Section
1. The term of franchise granted to Consuelo D.
Borja, now held buy Iligan Light and Power, Inc., as her
successor-in-interest, originally granted to Consuelo D. Borja under
Act Numbered Three thousand eight hundred ten and extended under
Republic act Numbered Six Thousand three hundred ninety-one is hereby
extended under the same terms and conditions therein provided, subject
to the provisions of the Constitution, for a period of twenty-five (25)
years from the date of its expiration. Sec. 2. The grantee shall not lease, transfer, grant the usufruct of, sell or assign this franchise nor the rights and privileges acquired there under, to any person, firm, company, corporation or other commercial or legal entity, nor merge with any person, company or corporation organized for the same purpose, without the approval and/or consent of the Congress of the Philippines. Sec. 3. This Act shall take effect upon its approval. (Note: Lapsed into law on Sept. 04, 1995, without the signature of the President, in accordance with the Article VI, Sec. 27 (1) of the Constitution.) |
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