Republic Acts1 min read
Section 20Sec./Art. 20
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Penalty Clause. -Failure of the grantee, its successors or assignees, to submit the requisite annual report to Congress shall be penalized by a fine of One million pesos (P1,000,000.00) per working day of noncompliance. The fine shall be collected by the CAAP from the delinquent franchise grantee, its successors or assignees, separate from the reportorial penalties imposed by the CAAP and the same shall be remitted to the Bureau of the Treasury.
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