Approval of Disposition of Franchise Granted Under R.A. No. 5196
Republic Act No. 6307, enacted on June 19, 1971, approves the transfer, assignment, sale, or mortgage of a franchise granted under Republic Act No. 5196. This law allows banking or financing institutions, as well as individuals and corporations, to acquire the rights and privileges associated with the franchise, subject to constitutional provisions and existing terms. The Act took effect upon its approval and was published in the Official Gazette on November 29, 1971.
Law Information
- Reference Number
- Republic Act No. 6307
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 19, 1971
REPUBLIC ACT NO. 6307
AN ACT APPROVING THE TRANSFER, ASSIGNMENT, SALE OR MORTGAGE OF THE FRANCHISE GRANTED UNDER REPUBLIC ACT NUMBERED FIVE THOUSAND ONE HUNDRED NINETY-SIX
SECTION 1. Subject to the provisions of the Constitution and to the terms and conditions of the franchise granted under Republic Act Numbered Five thousand one hundred ninety-six, the transfer, assignment, sale or mortgage of said franchise together with all the rights and privileges granted thereunder in favor of any banking or financing institution or any individual, corporation, co-partnership or joint-stock company, is hereby approved.
SECTION 2. This Act shall take effect upon its approval.
Enacted without Executive approval, June 19, 1971.
Published in the Official Gazette, Vol. 67, No. 48, p. 9341 on November 29, 1971
Cite This Law
Approval of Disposition of Franchise Granted Under R.A. No. 5196, Republic Act No. 6307, Jun 19, 1971 (Philippines)
Approval of Disposition of Franchise Granted Under R.A. No. 5196, Republic Act No. 6307 (Phil. 1971)
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