Republic Acts1 min read
Section 8Sec./Art. 8
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Term of Franchise. -This franchise shall be in effect for a period of fifty (50) years from the effectivity of this Act, inclusive of the ten (10) year maximum period for the design, planning and construction of the airport and the Airport City (the "Ten-Year Construction Period"), unless sooner revoked or cancelled. This franchise shall be deemedipso factorevoked in the event the grantee, its successors or assignees, fails to comply with any of the following conditions:
(a) Commence construction within one (1) year from the effectivity of this Act;
(b) Commence operations within one (1) year from the approval of the operating permit from the CAAP;
(c) Commence operations within twelve (12) years from the effectivity of this Act; and
(d) Operate continuously for two (2) years.
At the expiration of this franchise, the grantee, its successors or assignees, shall turnover the ownership of the airport to the DOTr.
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