Section 14Sec./Art. 14

Dispersal of Ownership. -Subject to the requirements of the Securities and Exchange Commission (SEC) and the stock exchange concerned. the herein grantee shall make public utilities offering to the stock exchanges at leat thirty percent (30%) of its authorized capital stock in any securities exchange in the Philippines within five (5) years from the date of effectivity of this Act.Provided,That in cases where public offer or shares is not applicable, the grantees shall apply other methods of encouraging public participation by citizens and corporations operating public utilities as allowed by law. Noncompliance therewith shall render the franchiseipso factorevoked.