Republic Acts1 min read
Section 15Sec./Art. 15
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Dispersal of Ownership.- In accordance with the constitutional provisions to encourage public participation in the public utilities, the grantee shall offer at least thirtypercentum(30%) of its outstanding capital stock or a higher percentage that may hereafter be provided by law in any securities exchange in the Philippines within five (5) years from the commencement of its operations. Noncompliance therewith shall render the franchiseipso factorevoked.
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