Republic Acts1 min read
Section 11Sec./Art. 11
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The grantee shall not, without the previous and explicit approval of the Congress of the Philippines, directly or indirectly, transfer, sell or assign this franchise to any person, association, company or corporation, or other legal entity. The controlling interest in the grantee shall not be transferred, assigned or sold, whether in whole or in parts, simultaneously or contemporaneously, within five (5) years from the effectivity of this Act.
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