Republic Acts1 min read
Section 11Sec./Art. 11
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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 other commercial entity, nor merge with any other corporation or entity without the prior approval of the Congress of the Philippines. Any person or entity to which this franchise is sold, transferred, or assigned shall be subject to all the same conditions, terms, restrictions, and limitations of this Act.1aшphi1
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