REPUBLIC ACT NO. 2340 - AN ACT APPROVING THE TRANSFER OF THE FRANCHISE AND ALL PROPERTY AND RIGHTS OF ESCUDERO ELECTRIC SERVICE COMPANY TO MANILA ELECTRIC COMPANY, AND FOR OTHER PURPOSES.

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

SECTION 1. The transfer and assignment to Manila Electric Company of the franchise and all property and rights by the Escudero Electric Service Company under the franchise granted it by Act Numbered Thirty-six hundred forty-eight of the Philippine Legislature, together with the right to install, operate and maintain an electric light, heat and power system in the City of San Pablo, and in the municipalities of Alaminos, Province of Laguna, and Dolores and Tiaong, Province of Quezon, Philippines, is hereby approved: Provided, That the schedule of rates in the City of Manila of the Manila Electric Company shall be applied at all times in the area covered by legislative or Public Service Commission franchises of the Escudero Electric Service Company; that the pre-war lines of the Escudero Electric Service Company which were destroyed, shall be rehabilitated and reconstructed by the Manila Electric Company within one year from the date of the approval of this Act; and that the lines to other barrios within the area of said franchises shall likewise be extended as public service demands and warrants as soon as possible.

SEC. 2. From and after the approval of this Act, whenever and wherever in Act Numbered Thirty-six hundred forty-eight of the Philippine Legislature the name Escudero Electric Service Company is mentioned, it shall be changed to and shall henceforth be understood to mean the Manila Electric Company.

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

Approved, June 20, 1959.