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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. 7299 - AN ACT
EXTENDING THE FRANCHISE GRANTED TO THE EAGLE BROADCASTING CORPORATION
TO ESTABLISH, OPERATE AND MAINTAIN RADIO BROADCASTING AND TELEVISION
STATIONS IN THE PHILIPPINES UNDER REPUBLIC ACT NUMBERED FORTY-NINE
HUNDRED AND SIXTEEN, TO ANOTHER TWENTY-FIVE (25) YEARS FROM NOVEMBER 2,
1993 AND FOR OTHER PURPOSES Section 1. Extension of Life of Franchise. — The life of the franchise of the Eagle Broadcasting Corporation to establish, operate and maintain radio broadcasting and television stations in the Philippines under Republic Act No. 4916 is hereby extended to another twenty-five (25) years from November 2, 1993. Sec. 2. Incorporation of Other Provisions of Republic Act No. 4916. — Subject to the provisions of Sec. 24(C) of the National Internal Revenue Code, as amended, and the provisions of Executive Order No. 72, all other provisions, terms and conditions contained in Republic Act No. 4916 which are still in force and are not affected by this Act, are hereby made integral parts of this Act. Sec. 3. Parity Clause. — In the event any competing individual, partnership or corporation has received or shall receive from the Congress a similar franchise containing any term or terms more favorable than those herein granted or tending to place the herein grantee at any disadvantage, then such term or terms shall ipso facto become a part of the terms hereof and shall operate equally in favor of the grantee as in the case of said competing individual, partnership or corporation. Sec. 4. Manner of Operation of Stations or Facilities. — The stations or facilities of the grantee shall be constructed and operated in a manner as will at most result only in the minimum interference on the wavelengths or frequencies of the other existing stations or stations which may be established by law, without in any way diminishing its own right to use its selected wavelengths or frequencies and the quality of transmission or reception thereon as should maximize rendition of the grantee's services and/or the availability thereof. Sec. 5. Prior Approval of the National Telecommunications Commission. — The grantee shall secure from the National Telecommunications Commission the appropriate permits and licenses for its stations and shall not use any frequency in the radio spectrum without having been authorized by the Commission. The Commission, however, shall not unreasonably withhold or delay the grant of any such authority. Sec. 6. Responsibility to the Public. — The grantee shall provide reasonable public service time to enable the Government, through the said broadcasting stations, to reach the population on important public issues; provide at all times sound and balanced programming; promote public participation such as in community programming assist in the functions of public information and education; conform to the ethics of honest enterprise; and not use its stations for the broadcasting of obscene and indecent language, or speech, for the dissemination of deliberately false information or willful misrepresentation, or to the detriment of the public interest, or to incite, encourage, or assist in subversive or treasonable acts. Sec. 7. Right of Government. — The President of the Philippines, in times of rebellion, public peril, calamity, emergency, disaster or disturbance of peace and order, may temporarily take over and operate the stations of the grantee, temporarily suspend the operation of any station in the interest of public safety, security and public welfare, or authorize the temporary use and operation thereof by any agency of the Government, upon due compensation to the grantee, for the use of said stations during the period when they shall be so operated. Sec. 8. Tax Provisions. — The grantee, its
successors or assigns shall be liable to pay the same taxes on their
real estate, buildings and personal property, exclusive of this
franchise, as other persons or corporations which are now or hereafter
may be required by law to pay. In addition thereto, the grantee, its
successors or assigns shall pay a franchise tax equivalent to three
percent (3%) of all gross receipts of the radio business transacted
under this franchise by the grantee, its successors or assigns and the
said percentage shall be in lieu of all taxes on this franchise or
earnings thereof: provided, that the grantee, its successors or assigns
shall continue to be liable for income taxes payable under Title II of
the National Internal Revenue Code pursuant to Sec. 2 of Executive
Order No. 72 unless the latter enactment is amended to repealed, in
which case the amendment or repeal shall be applicable thereto. Sec. 9. Public Offering of Stocks. — In compliance
with the constitutional mandate to democratize ownership of public
utilities, the herein grantee shall make public offering through the
stock exchanges of at least thirty percent (30%) of its common stocks
within a period of three (3) years from the date of effectivity of this
Act: provided, that no single person or entity shall be allowed to own
more than five percent (5%) of the stock offering. Approved: March 26, 1992 |
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