Section 1Sec./Art. 1

Nature and Scope of Franchise. -Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to the Hapi Jockey Club, Inc., hereunder referred to as the Grantee, its successors or assignees, a franchise to construct, operate, and maintain a race assignees, a franchise to construct, operate and maintain race track within the provinces of Batangas, Laguna, and Cavite, establish branches hereof for booking purposes anywhere in the country, hold or conduct horse races with betting on results of such races directly or by means of mechanical, electrical, or computerized totalizator, and do and carry out all such acts, deeds, and things as may be necessary to give effect to the foregoing.