Approval of Assignment, Sale and Transfer of Franchise by Roman Baluyut to Jose Valencia, Jr.
Republic Act No. 3178, enacted on June 17, 1961, authorizes the assignment, sale, and transfer of a franchise originally granted to Roman Baluyut for operating an electric light, heat, and power system in Apalit, Pampanga, to Jose Valencia, Jr. The transfer is subject to existing terms and constitutional provisions. Additionally, the Act stipulates that if the government wishes to operate the facility, the grantee must surrender the franchise and return all serviceable equipment at cost, minus reasonable depreciation. The Act took effect upon its approval and was published in the Official Gazette on January 29, 1962.
Law Information
- Reference Number
- Republic Act No. 3178
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 17, 1961
REPUBLIC ACT NO. 3178
AN ACT APPROVING ANY ASSIGNMENT, SALE AND TRANSFER OF THE FRANCHISE GRANTED TO ROMAN BALUYUT UNDER ACT NUMBERED THIRTY-EIGHT HUNDRED EIGHTY IN FAVOR OF JOSE VALENCIA, JR.
SECTION 1. Subject to the terms and conditions prescribed in Section fifteen of Act Numbered Thirty-six hundred thirty-six, and to the provisions of the Constitution, approval is hereby given to any assignment, sale and transfer of the franchise granted to Roman Baluyut to install, operate and maintain an electric light, heat and power system in the Municipality of Apalit, Province of Pampanga, under Act Numbered Thirty-eight hundred eighty, together with all the property and equipment acquired thereunder, in favor of Jose Valencia, Jr. aisa dc
SECTION 2. It is expressly provided that in the event the government should desire to operate and maintain for itself the said plant and enterprise, the grantee shall surrender his franchise and turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.
SECTION 3. This Act shall take effect upon its approval.
Approved: June 17, 1961
Published in the Official Gazette, Vol. 58, No. 5, p. 846 on January 29, 1962
Cite This Law
Approval of Assignment, Sale and Transfer of Franchise by Roman Baluyut to Jose Valencia, Jr., Republic Act No. 3178, Jun 17, 1961 (Philippines)
Approval of Assignment, Sale and Transfer of Franchise by Roman Baluyut to Jose Valencia, Jr., Republic Act No. 3178 (Phil. 1961)
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