An Act to Amend Republic Act Numbered Forty-Three Hundred Ninety, Entitled "An Act Granting Diosdado Rodriguez a Franchise to Construct, Operate and Maintain an Ice Plant in the Municipality of Olongapo, Province of Zambales and to Sell Ice in Said Municipality and in the Province of Zambales"

REPUBLIC ACT No. 5152

An Act to Amend Republic Act Numbered Forty-Three Hundred Ninety, Entitled "An Act Granting Diosdado Rodriguez a Franchise to Construct, Operate and Maintain an Ice Plant in the Municipality of Olongapo, Province of Zambales and to Sell Ice in Said Municipality and in the Province of Zambales"

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1. Section five of Republic Act Numbered Forty-three hundred ninety is hereby amended to read as follows:

Section 2. This Act shall take effect upon its approval.

Approved: June 17, 1967.

"Sec. 5. The grantee, with the approval of the Congress of the Philippines first had, may sell, lease, grant, convey, assign, give in usufruct, or transfer this franchise and all property and rights acquired thereunder to any qualified individual, association or corporation competent to operate the business hereby authorized: Provided, However, That the grantee is hereby authorized to mortgage this franchise in favor of the Development Bank of the Philippines or any other government-owned or controlled lending institution."