Section 9Sec./Art. 9

Sale, Lease, Transfer, Usufruct, etc. The grantee shall not lease, transfer, grant the usufruct of, sell or assign this franchise, nor the rights or privileges acquired thereunder to any person, firm, company, partnership, corporation or other commercial or legal entity, nor merge with any other person, firm, company, partnership or corporation not otherwise enfranchised for broadcasting services without the prior approval of the Congress of the Philippines. The controlling interest in the grantee shall not be transferred, assigned nor sold whether as a whole or in parts and whether simultaneously or contemporaneously within five (5) years from the date of the effectivity of this Act.

Any corporation to which this franchise may be sold, transferred, or assigned shall be subject to the corporation laws of the Philippines now existing or hereafter enacted, and any person, firm, company, partnership, corporation or other commercial or legal entity to which this franchise is sold, transferred, or assigned shall be subject to all conditions, terms, restrictions, and limitations of this franchise as fully and completely and to the same extent as if the franchise had been originally granted to the said person, firm, company, partnership, corporation or other commercial or legal entity.