Section 11Sec./Art. 11

Prohibitions. - The grantee shall not lease, transfer, grant the usufruct of, sell, or assign this franchise nor the rights and privileges acquired thereunder to any person, firm, company, corporation or other commercial or legal entity, nor merge with any other company or corporation organized for the same purpose without the prior approval of the Congress of the Philippines. Any person, firm, company, corporation or other commercial or legal entity to which this franchise may be 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, corporation or other commercial or legal entity.1aшphi1