Section 14January 16, 2003, Sec./Art. 14

Dispersal of Ownership. - In accordance wit the constitutional provision to encourage public participation in public utilities, the grantee shall offer at least thirty percentum (30%) of its outstanding capital stock or a higher percentage that may hereafter be provided by law in any securities exchange in the Philippines with five (5) years from the time it has achieved the status of a national broadcasting network. A "national broadcasting network" is hereby defined as one that operates three (3) or more radio and/or television stations. The public offering shall comply with the rules and regulations of the Securities and Exchange Commission (SEC), Noncompliance therewith shall render the franchise ipso facto revoked.