Amendment to R.A. No. 4390 Re: Franchise Grant to Diosdado Rodriguez
Republic Act No. 5152, enacted on June 17, 1967, amends Republic Act No. 4390, which granted Diosdado Rodriguez a franchise to operate an ice plant in Olongapo, Zambales. The amendment allows the grantee to sell, lease, or transfer the franchise and associated properties to qualified individuals or corporations, with prior approval from Congress. It also permits the grantee to mortgage the franchise to the Development Bank of the Philippines or other government lending institutions. The Act took effect immediately upon approval and was published in the Official Gazette on April 7, 1969.
Law Information
- Reference Number
- Republic Act No. 5152
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 17, 1967
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."
SECTION 2. This Act shall take effect upon its approval.
Enacted without Executive approval, June 17, 1967.
Published in the Official Gazette, Vol. 65, No. 14, p. 3332 on April 7, 1969
Cite This Law
Amendment to R.A. No. 4390 Re: Franchise Grant to Diosdado Rodriguez, Republic Act No. 5152, Jun 17, 1967 (Philippines)
Amendment to R.A. No. 4390 Re: Franchise Grant to Diosdado Rodriguez, Republic Act No. 5152 (Phil. 1967)
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