Full Title
AN ACT AMENDING REPUBLIC ACT NUMBERED FIFTY HUNDRED NINETY-NINE, ENTITLED "AN ACT GRANTING JOSE O. MARTINEZ A FRANCHISE TO CONSTRUCT, OPERATE, AND MAINTAIN AN ICE PLANT AND COLD STORAGE IN THE MUNICIPALITY OF MALANGAS, PROVINCE OF ZAMBOANGA DEL NORTE."
Congress
House Bill No.
H. No. 16976
Legislative History
Date of Approval
June 15, 1968
Other Details
Issuance Category
Legislative Issuance Type
Bill Note
Link From Other Sources
URL (Supreme Court)
Official Gazette
Official Gazette Source
Official Gazette vol. 65 no. 26 page 6583 (6/30/1969)
Full Text of Issuance
Click to view full text
H. No. 16976 / 65 OG No. 26, 6583 (June 30, 1969)
[ REPUBLIC ACT NO. 5404, June 15, 1968 ]
AN ACT AMENDING REPUBLIC ACT NUMBERED FIFTY HUNDRED NINETY-NINE, ENTITLED "AN ACT GRANTING JOSE O. MARTINEZ A FRANCHISE TO CONSTRUCT, OPERATE AND MAINTAIN AN ICE PLANT AND COLD STORAGE IN THE MUNICIPALITY OF MALANGAS, PROVINCE OF ZAMBOANGA DEL SUR."
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 Hundred ninety-nine is hereby amended to read as follows:
“SEC. 5. The grantee, with the approval of the Congress of the Philippines first had, may sell, lease, grant, convey, assign, give in usufruct, or transfer this franchise and all property and rights acquired thereunder to any qualified individual, association or corporation competent to operate the business hereby authorized: Provided, however, That the grantee is hereby authorized to mortgage this franchise in favor of the Development Bank of the Philippines or any other government-owned or controlled lending institution: Provided, further, That all properties or equipment used in the business are also mortgaged together with said franchise."
SEC. 2. This Act shall take effect upon its approval.Enacted without Executive approval, June 15, 1968.
Source: Supreme Court E-Library