Extension of Term of Franchise Granted to Consuelo D. Borja

September 4, 1995 *

REPUBLIC ACT NO. 8148

AN ACT FURTHER EXTENDING THE TERM OF THE FRANCHISE GRANTED TO CONSUELO D. BORJA NOW PRESENTLY HELD BY ILIGAN LIGHT AND POWER, INC., HER SUCCESSOR-IN-INTEREST, UNDER REPUBLIC ACT NUMBERED SIX THOUSAND THREE HUNDRED NINETY-ONE, ORIGINALLY GRANTED TO CONSUELO D. BORJA UNDER ACT NUMBERED THREE THOUSAND EIGHT HUNDRED TEN FOR A PERIOD OF TWENTY-FIVE (25) YEARS FROM THE DATE OF ITS EXPIRATION, AND FOR OTHER PURPOSES

SECTION 1. The term of franchise granted to Consuelo D. Borja, now held by Iligan Light and Power, Inc., as her successor-in-interest, originally granted to Consuelo D. Borja under Act Numbered Three Thousand Eight Hundred Ten and extended under Republic Act Numbered Six Thousand Three Hundred Ninety-One is hereby extended under the same terms and conditions therein provided, subject to the provisions of the Constitution, for a period of twenty-five (25) years from the date of expiration. cd i

SECTION 2. The grantee shall not lease, transfer, grant the usufruct of, sell or assign this franchise nor the rights and privileges acquired thereunder, to any other person, firm, company, corporation or other commercial or legal entity, nor merge with any person, company or corporation organized for the same purpose, without the approval and/or consent of the Congress of the Philippines.

SECTION 3. This Act shall take effect upon its approval.

* Lapsed into law on September 4, 1995, without the signature of the President, in accordance with the Article VI, Section 27 (1) of the Constitution.

Published in the Official Gazette, Vol. 91 No. 43 page 7000 on October 23, 1995.