Approval of Assignment, Sale and Transfer of Franchise Granted to Juan R. Alcasid
Republic Act No. 5785, enacted on June 21, 1969, authorizes the assignment, sale, and transfer of electric franchise rights from Juan R. Alcasid and Feliciana S. Bermudez to Jural Electric, Inc. This legislation confirms the transfer of franchises originally granted for electric light, heat, and power systems in the municipalities of Polomolok and Tupi in Cotabato. The act stipulates that Jural Electric, Inc. will be liable for the same taxes on its business and properties as other corporations, unless exempted. The law took effect immediately upon its approval and was published in the Official Gazette on January 19, 1970.
Law Information
- Reference Number
- Republic Act No. 5785
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 21, 1969
REPUBLIC ACT NO. 5785
AN ACT APPROVING ANY ASSIGNMENT, SALE AND TRANSFER OF THE FRANCHISE GRANTED TO JUAN R. ALCASID BY REPUBLIC ACT NUMBERED FORTY-FIVE HUNDRED SIX, AND OF THE FRANCHISE GRANTED TO FELICIANA S. BERMUDEZ UNDER THE REPUBLIC ACT NUMBERED EIGHTEEN HUNDRED FORTY WHICH WAS LATER ASSIGNED, SOLD AND TRANSFERRED TO JUAN R. ALCASID DULY APPROVED BY CONGRESS UNDER REPUBLIC ACT NUMBERED FORTY-FIVE HUNDRED FIFTY-THREE, IN FAVOR OF JURAL ELECTRIC, INC.
SECTION 1. Subject to the provisions of Republic Act Numbered Forty-five hundred six, entitled "An Act granting to Juan R. Alcasid a franchise to install, maintain and operate an electric light, heat and power system in the Municipality of Polomolok, Province of Cotabato," and Republic Act Numbered Eighteen hundred forty, entitled "An Act to grant to Feliciana S. Bermudez a franchise for an electric light, heat and power system in the Municipality of Tupi, Province of Cotabato," which was later assigned, sold and transferred to Juan R. Alcasid duly approved by Congress under Republic Act Numbered Forty-five hundred fifty-three, approval is hereby given to any assignment, sale and transfer of the franchise granted to Juan R. Alcasid under the said Acts, together with all the properties and improvements acquired thereunder, in favor of Jural Electric, Inc.
SECTION 2. The grantee shall be liable to pay the same taxes, unless exempted therefrom, on its business, real estate, buildings and personal property, exclusive of this franchise, as other persons or corporation are now or hereinafter may be required by law to pay. aisa dc
SECTION 3. This Act shall take effect upon its approval.
Enacted without Executive approval, June 21, 1969.
Published in the Official Gazette, Vol. 66, No. 3, p. 508 on January 19, 1970
Cite This Law
Approval of Assignment, Sale and Transfer of Franchise Granted to Juan R. Alcasid, Republic Act No. 5785, Jun 21, 1969 (Philippines)
Approval of Assignment, Sale and Transfer of Franchise Granted to Juan R. Alcasid, Republic Act No. 5785 (Phil. 1969)
Related Laws
- Approval of Disposition of Franchise Granted to Feliciana S. BermudezRepublic Act No. 4553 • Jun 19, 1965 • Statutes
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- Grant of Ice Plant and Cold Storage Franchise to Juan R. AlcasidRepublic Act No. 4554 • Jun 19, 1965 • Statutes
- Approval of Assignment, Sale and Transfer of Franchise Granted to Jose CatolicoRepublic Act No. 1118 • Jun 15, 1954 • Statutes
- Approval of Assignment, Sale and Transfer of Franchise by Roman Baluyut to Jose Valencia, Jr.Republic Act No. 3178 • Jun 17, 1961 • Statutes
- Approval of Assignment, Sale and Transfer of Franchise from Bicol Electric Co. to Gubat Electric Co., Inc.Republic Act No. 3262 • Jun 17, 1961 • Statutes
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