REPUBLIC ACT NO. 458 - AN ACT GRANTING THE BAGATAYAM ELECTRIC CO. A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER PLANT IN THE MUNICIPALITIES OF SOGOD AND CATMON, CEBU PROVINCE.

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

SECTION 1. Subject to the terms and conditions established in Act Numbered Thirty-six hundred and thirty-six, as amended by Commonwealth Act Numbered One hundred and thirty-two, and to the provisions of the Constitution, there is granted to the Bagatayam Electric Co., for a period of twenty-five years from the approval of this Act, the right, privilege, and authority to construct, maintain, and operate an electric light, heat and power plant, utilizing for this purposes the current of the Bagatayam River, for the purpose of generating and distributing electric light, heat and/or power for sale within the municipalities of Sogod and Catmon, both of Cebu Province: Provided, That the holder of the franchise herein granted shall start the operation thereof within one and a half years from the approval of said franchise.

SEC. 2. It is expressly provided that in the event the Government should desire to maintain and operate for itself the plant and enterprise herein authorized, the grantee all surrender its franchise and will turn over to the Government all serviceable equipment therein, at cost.

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

Approved, June 8, 1950.