Section 19Sec./Art. 19

Dispersal of Ownership. In accordance with the constitutional provision to encourage public participation in public utilities, the grantee shall offer to Filipino citizens at least thirty percent (30%) of its outstanding capital stock, or such other percentage that may hereafter be required by law, in any securities exchange in the Philippines within five (5) years from the effectivity of this Act. Noncompliance therewith shall render the franchise ipso facto revoked.