An Act to Grant the Varied Services, Incorporated a Franchise to Conduct a Messenger and Delivery Express Service

REPUBLIC ACT No. 4636

An Act to Grant the Varied Services, Incorporated a Franchise to Conduct a Messenger and Delivery Express Service

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, The Varied Services, Incorporated is hereby granted a franchise to conduct a messenger and delivery express service for packages and/or oral or written messages, at regular intervals and/or in specific or rush emergency cases through all hours of the day, for a period of twenty-five years from the approval of this Act.

Section 2. The grantee is hereby empowered to fix its service charges subject to the approval of the Public Service Commission: Provided, That the grantee shall not start its service unless its rates shall have first been approved by the said Commission.

Section 3. The Varied Services, Incorporated, in addition to the taxes imposed by the Internal Revenue Code, shall pay an additional annual tax at the rate of one percent on its net profit, the proceeds of which shall accrue to the National Government.

Section 4. This franchise is granted subject to the condition that it shall be subject to amendment, alteration, or repeal when the public interest so requires and shall not be understood as exclusive in character.

Section 5. The grantee shall file a bond in the amount of ten thousand pesos to answer for any loss or damages that any customer or customers may sustain.

Section 6. This Act shall take effect upon its approval.

Approved: June 19, 1965.