REPUBLIC ACT NO. 4676 - AN ACT GRANTING DURO DEVELOPMENT ENTERPRISES A FRANCHISE TO CONSTRUCT, MAINTAIN AND OPERATE AN ICE PLANT AND COLD STORAGE IN DAVAO CITY, AND TO SELL ICE AND SUPPLY COLD STORAGE THEREIN AND IN THE PROVINCE OF DAVAO

Section 1.    Subject to the conditions imposed by this Act, there is hereby granted for a period of twenty-five years to Duro Development Enterprises, its successors or assigns, hereinafter referred to as the grantee, a franchise to construct, operate and maintain an ice plant and cold storage in Davao City for the purpose of manufacturing and distributing ice and supplying cold storage therein and in the Province of Davao, and to charge and collect a schedule of prices and rates for the ice and cold storage so furnished, which schedule of prices and rates shall, at all times, be subject to regulation by the Public Service Commission.

Sec. 2.    The grantee shall manufacture and supply ice up to the limit of the capacity of the plant.

Sec. 3.    All apparatus and appurtenances to be used by the grantee shall be modern, safe and first class in every respect, and the grantee shall, whenever the Public Service Commission shall determine that public interest reasonably requires it, change or alter any of the plant's apparatus and appurtenances at its expense.

Sec. 4.    If the grantee does not commence the manufacture and distribution of ice and the supply of cold storage within four years from the approval of this Act, unless prevented by an act of God, or force majeure, martial law, riot, civil commotion, usurpation by a military power or any other cause beyond the grantee's control, this franchise shall become null and void.

Sec. 5.    This franchise is granted subject to the provisions of Commonwealth Act Numbered One hundred and forty-six, as amended, only with respect to the fixing of rates, and under the condition that it shall be subject to amendment, alteration or repeal by the Congress of the Philippines when public interest so requires.

Sec. 6.    The grantee, with the approval of the Congress of the Philippines first had, may sell, lease, grant, convey, assign, give in usufruct, or transfer this franchise and all property and rights acquired thereunder to any individual, partnership, association, corporation or joint stock company competent to operate the business hereby authorized.

Sec. 7.    In the event of any competing individual, association of persons, or corporation receiving from the Congress of the Philippines a similar franchise in which there shall be 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, association of persons, or corporation. ,

Sec. 8.    This Act shall take effect upon its approval.

Approved: June 18, 1966