REPUBLIC ACT NO. 4546 - AN ACT TO
AMEND REPUBLIC ACT NUMBERED THIRTY-TWO HUNDRED AND FORTY-SIX, ENTITLED
"AN ACT GRANTING MR. ANASTACIO MORALES A FRANCHISE TO ESTABLISH,
MAINTAIN AND OPERATE RADIO STATIONS FOR INTERNATIONAL AND DOMESTIC
TELECOMMUNICATIONS"
Section 1. Section four of Republic Act Numbered Thirty-two
hundred and forty-six is amended to read as follows:
"Sec. 4. This franchise shall continue for a period
of twenty-five years from the date the first of said stations shall be
placed in operation, and is granted upon the express condition that the
same shall be void unless the construction of said stations be begun
within two years from the date of the approval of this Act and be
completed within ten years from said date."
Sec. 2. Section ten of the same Act is amended to
read as follows:
"Sec. 10. Subject to the terms and conditions
prescribed in this Act, the sale, transfer and conveyance of this
franchise and all the properties and rights acquired hereunder in favor
of the Universal Telecommunications Service, Inc., hereafter referred
to as the grantee by Anastacio Morales is hereby authorized and
approved: provided, that the grantee shall not lease, transfer, grant
the usufruct of, sell or assign this franchise or the rights and
privileges acquired thereunder to any person, firm, company,
corporation or other commercial or legal entity nor merge with any
other person, company, or corporation organized for the same purpose,
without the approval of the Congress of the Philippines first had. Any
Corporation to which this franchise may be sold, transferred or
assigned, shall be subject to the corporation laws of the Philippines
now existing or hereafter enacted and any person, firm, company,
corporation or other commercial or legal entity to which this franchise
is sold, transferred or assigned shall be subject to all conditions,
terms, restrictions and limitations of this franchise as fully and
completely and to the same extent as if the franchise had been
originally granted to the said person, firm, company, corporation or
other commercial or legal entity."
Sec. 3. Section fourteen of the same Act is
amended to read as follows:
"Sec. 14. (a) The grantee shall be liable to pay the
same taxes on his real estate, buildings and personal property,
exclusive of the franchise, as other persons or corporations are now or
hereafter may be required by law to pay. (b) The grantee shall further
pay to the Treasurer of the Philippines each year, within ten days
after the audit and approval of the accounts as prescribed by this Act,
one and one-half per centum of all gross receipts from the business
transacted under this franchise by the said grantee. Said tax shall be
in lieu of any and all taxes of any kind, nature or description levied,
established or collected by any authority whatsoever, municipal,
provincial, or national, from which taxes the grantee is hereby
expressly exempted."
Sec. 4. This Act shall take effect upon its
approval.
Approved: June 19, 1965
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