An Act Authorizing Jesus B. Pacquing to Assign or Mortgage His Franchise to Any Government-Owned or Controlled Financial and/or Banking Institution
Year:
1968
Category:
Other
Date Approved:
June 15, 1968
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act authorizes Jesus B. Pacquing to assign or mortgage his franchise to any government-owned or controlled financial and/or banking institution. It ensures that the machineries and equipment used in the business are also mortgaged together with the franchise.Full Text
REPUBLIC ACT No. 5393
An Act Authorizing Jesus B. Pacquing to Assign or Mortgage His Franchise to Any Government-Owned or Controlled Financial and/or Banking Institution
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Any provision of law to the contrary notwithstanding, Jesus B. Pacquing is hereby authorized to assign or mortgage his franchise granted under Republic Act Numbered Forty-three hundred and forty-four, to any government-owned or controlled financial and/or banking institution: Provided, However, That the machineries and equipment used in the business are also mortgaged together with the franchise.
Section 2. This Act shall take effect upon its approval.
Approved: June 15, 1968.
Share
PDF Document
Source
Official source from LawPhil:
View on LawPhil Last updated: Jul 1, 2026About
Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.