REPUBLIC ACT NO. 467 - AN ACT TO GRANT TO MRS. ARSENIO R. FRIAL, MRS. JOSE FILLONES AND MRS. ANGELES L. VILLAREAL A FRANCHISE FOR AN ELECTRIC LIGHT, HEAT AND POWER PLANT IN THE MUNICIPALITY OF DUMALAG, PROVINCE OF CAPIZ.

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 thirty-two, and to the provisions of the Constitution, there is granted to Mrs. Arsenio R. Frial, Mrs. Jose Fillones and Mrs. Angeles L. Villareal, 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 for the purpose of generating and distributing electric light, heat and/or power for sale within the municipality of Dumalag, Province of Capiz: 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 grantees shall surrender their franchise and will turn over to the Government all serviceable equipment therein, at cost, less reasonable depreciation.

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

Approved, June 9, 1950.