Republic Acts1 min read
Section 8Sec./Art. 8
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Sale, Lease, Transfer, Usufruct etc. - The grantee shall not lease, transfer, grant the usufruct of, sell or assign this franchise or the rights and privileges acquired thereunder to any person, firm, company, corporation or entity, nor merge with any other company or corporation not otherwise enfranchised for broadcasting services without the approval of the Congress of the Philippines. The controlling interest of 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, person or entity to which this permit is sold, transferred or assigned, shall be subject to all the same conditions, terms, restrictions and limitations of this Act.
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