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PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Republic Acts :
REPUBLIC ACTS
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REPUBLIC ACT NO. 1610 - AN
ACT GRANTING THE NEGROS ELECTRIC POWER CORPORATION A FRANCHISE TO
DEVELOP, CONSTRUCT, MAINTAIN AND OPERATE A HYDROELECTRIC POWER PLANT IN
BAGO RIVER, PROVINCE OF NEGROS OCCIDENTAL |
Section 1.
Subject to the provisions of the Constitution and to the terms and
conditions established in Act Numbered Thirty-six hundred and
thirty-six, as amended, and insofar as the latter law is applicable to,
and not inconsistent with this Act, there is hereby granted to the
Negros Electric Power Corporation, hereinafter known as the grantee,
for a period of twenty-five years from the approval of this Act, the
right, privilege and authority to develop, construct, maintain and
operate a hydroelectric power plant at a suitable place along the Bago
River, for the purpose of generating and distributing electric light,
heat, and power for sale within the Province of Negros Occidental. The
grantee shall complete the building of the hydroelectric power plant
herein authorized within five years from the approval of this Act and
charge and collect a schedule of prices and rates for the use of
electric current, which schedule of prices and rates shall at all times
be subject to regulation by the Public Service Commission.cralaw
Sec. 2. Said grantee shall be exempt from payment of all internal revenue taxes directly payable by it. Sec. 3. It is expressly provided that, in the event the Government should desire to maintain and operate for itself the hydroelectric power plant herein authorized, the grantee shall surrender its franchise and will turn over to the Government all installations and serviceable equipment therein, at cost, less reasonable depreciation.cralaw
Sec. 4. This Act shall take effect upon its approval.cralaw Approved: August 23, 1956 |