An Act Authorizing Roman Baluyut to Sell, Convey, Assign, or Otherwise Transfer His Franchise and All Property and Rights Acquired Under Act Numbered Thirty-Eight Hundred and Eighty, in Favor of the Riverside Electric Company, Incorporated
Commonwealth Act No. 488, enacted on June 18, 1939, grants Roman Baluyut the authority to sell, lease, or transfer his franchise and related rights to the Riverside Electric Company, Incorporated. This transfer is subject to specific conditions outlined in previous legislation and the Philippine Constitution. Additionally, the Act stipulates that if the government decides to operate the electric plant itself, the grantee must surrender the franchise and provide all serviceable equipment at cost. The Act became effective upon its approval, without the need for executive endorsement.
Law Information
- Reference Number
- Commonwealth Act No. 488
- Date Enacted
- Category
- Statutes
- Subcategory
- Commonwealth Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 18, 1939
COMMONWEALTH ACT NO. 488
AN ACT AUTHORIZING ROMAN BALUYUT TO SELL, CONVEY, ASSIGN, OR OTHERWISE TRANSFER HIS FRANCHISE AND ALL PROPERTY AND RIGHTS ACQUIRED UNDER ACT NUMBERED THIRTY-EIGHT HUNDRED AND EIGHTY, IN FAVOR OF THE RIVERSIDE ELECTRIC COMPANY, INCORPORATED
SECTION 1. Subject to the terms and conditions prescribed in section fifteen of Act Numbered Thirty-six hundred and thirty-six, as amended by Commonwealth Act Numbered One hundred and thirty-two, and to the provisions of the Constitution, Roman Baluyut is authorized to sell, lease, convey, grant, assign, or otherwise transfer his franchise and all property and rights acquired under Act Numbered Thirty-eight hundred and eighty, in favor of the Riverside Electric Company, Incorporated, a domestic corporation duly organized and existing under and by virtue of the laws of the Philippines. ISHCcT
SECTION 2. It is expressly provided that in the event the government should desire to maintain and operate for itself the plant and the enterprise herein authorized, the grantee shall surrender its franchise and will turn over to the government all serviceable equipment, at cost.
SECTION 3. This Act shall take effect on its approval.
Enacted, without Executive approval, June 18, 1939.
Cite This Law
An Act Authorizing Roman Baluyut to Sell, Convey, Assign, or Otherwise Transfer His Franchise and All Property and Rights Acquired Under Act Numbered Thirty-Eight Hundred and Eighty, in Favor of the Riverside Electric Company, Incorporated, Commonwealth Act No. 488, Jun 18, 1939 (Philippines)
An Act Authorizing Roman Baluyut to Sell, Convey, Assign, or Otherwise Transfer His Franchise and All Property and Rights Acquired Under Act Numbered Thirty-Eight Hundred and Eighty, in Favor of the Riverside Electric Company, Incorporated, Commonwealth Act No. 488 (Phil. 1939)
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- Approval of Assignment, Sale and Transfer of Franchise by Roman Baluyut to Jose Valencia, Jr.Republic Act No. 3178 • Jun 17, 1961 • Statutes
- Authority to Mariano R. Lamson to Sell Franchise (Electric Current, Heat and Power System)Act No. 4106 • Dec 5, 1933 • Statutes
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