Section 1Sec./Art. 1

Nature and, Scope of Franchise. Subject to the provisions of the 1987 Philippine Constitution and applicable laws, rules and regulations, the franchise granted to the Far East Broadcasting Company (Philippines), Inc., under Republic Act No. 8115, entitled An Act Granting the Far East Broadcasting Company (Philippines), Inc., a Franchise to Construct, Maintain and Operate Non-commercial Radio Broadcasting Stations in the Philippines, hereunder referred to as the grantee, its successors or assignees, to construct, install, establish, operate and maintain for non-commercial purposes and in the public interest, radio and/or television broadcasting stations in the Philippines, is hereby renewed for another twenty-five (25) years from the effectivity of this Act.