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PRESIDENTIAL DECREE NO. 489
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PRESIDENTIAL DECREE NO. 489
- AUTHORIZING "THE EASTERN EXTENSION AUSTRALASIA AND CHINA TELEGRAPH
COMPANY, LIMITED" TO TRANSFER THE FRANCHISE GRANTED TO THAT COMPANY
UNDER REPUBLIC ACT NO. 808, AS AMENDED BY REPUBLIC ACT NO. 5002, TO THE
EASTERN TELECOMMUNICATIONS PHILIPPINES, INC
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chanroblesvirtualawlibrary
WHEREAS,
the Eastern Australasia and China Telegraph Company Ltd. is the holder
of a franchise to land, construct, maintain and operate
telecommunications systems... for the reception and transmission of
messages between any points in the Philippines to points exterior
thereto, includingrplanes,rships or vessels even though
suchrplanes,rships or vessels may be located within territorial limits
of the Philippines," under Republic Act No. 808, as amended by Republic
Act No. 5002;chanroblesvirtualawlibrary
WHEREAS, under Section 12 of Republic Act No. 808, as amended, which
was approved and became effective on June 21, 1952, the franchise thus
granted to the Eastern Extension Australasia and China Telegraph
Company, Ltd. has a term of fifty (50) years which will expire only on
June 21, 2002; chanroblesvirtualawlibrary
WHEREAS, under Section 15 of the same Act, the Eastern Extension
Australasia and China Telegraph Company, Ltd. is expressly prohibited
from leasing, transferring, selling or assigning the franchise thus
granted to it without the approval of the then Philippine Congress
being first had;chanroblesvirtualawlibrary
WHEREAS, the general policy of the State is to limit the grant of
franchise, certificates or other forms of authorization for the
operation of public utilities (such as a telecommunications carrier)
only to citizens of the Philippines or to corporations or associations
at least sixty per centum (60%) of the capital of which is owned by
such citizens;chanroblesvirtualawlibrary
WHEREAS, the Eastern Telecommunications Philippines, Inc. is a duly
organized corporation existing under the laws of the Philippines, with
at least 60% of its capital owned at all times by Filipino citizens;chanroblesvirtualawlibrary
WHEREAS, in order to promote the achievement of the aforementioned
policy it is necessary and desirable that the Eastern Extension
Australasia and China Telegraph Company Ltd. be authorized to sell,
transfer or assign the franchise granted to it under Republic Act No.
808, as amended, to the aforesaid Eastern Telecommunications
Philippines, Inc.;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081, dated September 21, 1972, and
General Order No. 1, dated September 22, 1972, as amended, do hereby
authorize the Eastern Extension Australasia and China Telegraph Company
Ltd. to sell, transfer or assign the franchise granted to it under
Republic Act No. 808, as amended by Republic Act No. 5002, to the
Eastern Telecommunications Philippines, Inc., a duly organized
corporation existing under the laws of the Philippines, with at least
60% of its capital owned at all times by Filipino citizens, upon such
terms and conditions as the said grantee and its prospective transferee
may agree upon, subject to the provision of Section 15 of Republic Act
No. 808, as amended.
This Decree takes effect immediately.
Done in the City of Manila,
this 24th day of June, in the year of Our Lord, nineteen hundred and
seventy-four.
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