Republic Act No. 5857

 

 

AN ACT

AMENDING SECTION FIVE OF REPUBLIC ACT NUMBERED FIFTY-ONE HUNDRED AND SIX, ENTITLED “AN ACT GRANTING RAFAEL C. AQUINO A FRANCHISE TO INSTALL, MAINTAIN AND OPERATE AN ELECTRIC LIGHT, HEAT, POWER SYSTEM, AN ICE PLANT AND COLD STORAGE IN THE MUNICIPALITIES OF BAYUGAN AND PROSPERIDAD, PROVINCE OF AGUSAN

 

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

 

SECTION 1.  Section five of Republic Act Numbered Fifty-one hundred and six is hereby amended to read as follows:

 

“SEC. 5.  If the grantee shall not commence the manufacture and distribution of ice in the municipalities of Bayugan and Prosperidad, Province of Agusan, within four years from the approval of this Act, unless prevented by an act of God or force majeure, martial law, riot, civil commotion, usurpation by a military power or any other cause beyond the grantee’s control, this franchise shall be null and void.”

 

SEC. 2. The same Act is amended by inserting between Sections seven and eight thereof a new section to read as follows:

 

“SEC. 7-A.  The grantee shall be liable to pay the same taxes, unless exempted therefrom, on his business, real estate, buildings, and personal property, exclusive of this franchise, as other persons or corporations are now or hereafter may be required by law to pay.”

 

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

 

Enacted without Executive approval, June 21, 1969

 

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Last revised:  July 31, 2016 12:26 AM.

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