An Act Extending the Term of the Electric Light, Heat and Power Franchise of the Baclayon Electric Light and Power Company, Incorporated, Amending for the Purpose Section One of Act Numbered Forty-Two Hundred Sixty-Five

REPUBLIC ACT No. 2996

An Act Extending the Term of the Electric Light, Heat and Power Franchise of the Baclayon Electric Light and Power Company, Incorporated, Amending for the Purpose Section One of Act Numbered Forty-Two Hundred Sixty-Five

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

Section 1. Section one of Act Numbered Forty-two hundred sixty-five is hereby amended to read as follows:

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

Approved: June 19, 1960.

"Sec. 1. Subject to the rules and conditions established in Act Numbered Thirty-six hundred and thirty-six, there is granted to the Baclayon Electric Light and Power Company, Incorporated, for a period of another 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 power, for sale within the limits of the Municipality of Baclayon, Province of Bohol. This franchise shall not be transferable except with the approval of the Congress of the Philippines.