ChanRobles Virtual law Library
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
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
REPUBLIC ACT NO. 7511 - AN ACT
GRANTING THE SUBIC BROADCASTING CORPORATION A FRANCHISE TO CONSTRUCT,
INSTALL, OPERATE AND MAINTAIN RADIO AND TELEVISION BROADCASTING
STATIONS IN THE PHILIPPINES AND FOR OTHER PURPOSES Section 1. Nature and Scope of Franchise. — Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to the Subic Broadcasting Corporation, hereunder referred to as the grantee, its successors or assigns a franchise to construct, install, operate and maintain for commercial purposes and in the public interest radio and television broadcasting stations in the Philippines with the corresponding technological auxiliaries or facilities, special broadcast and other program and distribution services and relay stations, and to install radio communication facilities for the grantee's private use in its broadcast services. Sec. 2. 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 availability thereof. Sec. 3. 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/television spectrum without having been authorized by the Commission. The Commission, however, shall not unreasonably withhold or delay the grant of any such authority. Sec. 4. 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, speech, act or scene, or for the dissemination of deliberately false information or willful misrepresentation to the detriment of the public interest. Sec. 5. 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. 6. Term of Franchise. — The franchise shall be for a term of twenty-five (25) years from the date of effectivity of this Act, unless sooner revoked or cancelled. In the event the grantee fails to operate continuously for two (2) years, this franchise shall be deemed ipso facto revoked. Sec. 7. Acceptance and Compliance. — Acceptance of this franchise shall be given in writing within sixty (60) days after the effectivity of this Act. Upon giving such acceptance, the grantee shall exercise the privileges granted under this Act. Non-acceptance shall render the franchise void. 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 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 and television and
cable system 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 or repealed, in which case the amendment or repeal
shall be applicable thereto. Sec. 9. Democratization of Ownership. — 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
stock 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 offerings. Approved: May 21, 1992 |
chanroblesvirtuallawlibrary