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PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Republic Acts :
REPUBLIC ACTS
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REPUBLIC ACT NO. 1440 - AN ACT
GRANTING MESSRS. DEMETRIO P. CORREA AND GUILLERMO CONFESOR A FRANCHISE
FOR AN ELECTRIC LIGHT, HEAT AND POWER SYSTEM IN THE MUNICIPALITY OF
CABATUAN, PROVINCE OF ILOILO |
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 Messrs. Demetrio P. Correa and
Guillermo Confesor, 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 system for the purpose of
generating and distributing electric light, heat, and/or power for sale
within the Municipality of Cabatuan, Province of Iloilo.
Sec. 2. In the event that the grantees shall purchase and secure from the National Power Corporation electric heat and power, the National Power Corporation is hereby authorized to negotiate and transact for the benefit and in behalf of the public consumers with reference to rates.cralaw Sec. 3. It is expressly provided that, in the event the Government should desire to maintain and operate for itself the system 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.cralaw
Sec. 4. This Act shall take effect upon its
approval.cralaw Approved: June 14, 1956 |