An Act to Grant the Tanauan Electric & Development Co., Inc. of Tanauan, Batangas, a Franchise for an Electric Light, Heat and Power System for the Towns of Tanauan and Malvar, Both of the Province of Batangas

REPUBLIC ACT No. 2993

An Act to Grant the Tanauan Electric & Development Co., Inc. of Tanauan, Batangas, a Franchise for an Electric Light, Heat and Power System for the Towns of Tanauan and Malvar, Both of the Province of Batangas

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

Section 1. Subject to the terms and conditions established in the 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 the Tanauan Electric & Development Co., Inc., of the Tanauan, Batangas, 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 limits of the towns of Tanauan and Malvar, both in the Province of Batangas.

Section 2. In the event that the grantee 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.

Section 3. This Act shall take effect upon its approval.

Approved: June 19, 1960.