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 Corona International, Inc., hereunder referred to as the grantee, its successors or assigns a franchise to establish, install, maintain, lease and operate for commercial purposes and in the public interest wire and/or wireless telecommunications systems, lines circuits and stations throughout the Philippines with the corresponding transmitting and receiving stations at such places in the Philippines as it may consider necessary and convenient.