REPUBLIC ACT NO. 5785 - AN ACT APPROVING ANY ASSIGNMENT, SALE AND TRANSFER OF THE FRANCHISE GRANTED TO JUAN R. ALCASID BY REPUBLIC ACT NUMBERED FORTY-FIVE HUNDRED SIX, AND OF THE FRANCHISE GRANTED TO FELICIANA S-BERMUDEZ UNDER REPUBLIC ACT NUMBERED EIGHTEEN HUNDRED FORTY WHICH WAS LATER ASSIGNED, SOLD AND TRANSFERRED TO JUAN R. ALCASID DULY APPROVED BY CONGRESS UNDER REPUBLIC ACT NUMBERED FORTY-FIVE HUNDRED FIFTY-THREE, IN FAVOR OF JURAL ELECTRIC, INC.
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
SECTION 1. Subject to the provisions of Republic Act Numbered Forty-five hundred six, entitled "An Act granting to Juan R. Alcasid a franchise to install, maintain and operate an electric light, heat and power system in the Municipality of Polomolok, Province of Cotabato," and Republic Act Numbered Eighteen hundred forty, entitled "An Act to grant to Feliciana S. Bermudez a franchise for an electric light, heat and power system in the Municipality of Tupi, Province of Cotabato," which was later assigned, sold and transferred to Juan R. Alcasid duly approved by Congress under Republic Act Numbered Forty-five hundred fifty-three, approval is hereby given to any assignment, sale and transfer of the franchises granted to Juan R. Alcasid under the said Acts, together with all the properties and improvements acquired thereunder, in favor of Jural Electric, Inc.
SEC. 2. The grantee shall be liable to pay the same taxes, unless exempted therefrom, on its business, real estate, buildings and personal property, exclusive of this franchise, as other persons or corporation 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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