Section 3Sec./Art. 3

A new section is hereby inserted after Section 12 of Republic Act No. 8996, to read as follows:

"SEC. 13. Dispersal of Ownership. - In accordance with the constitutional provision to encourage public participation in public utilities, the grantee shall offer at least thirty percent (30%) of its outstanding capital stock or a higher percentage that may hereinafter be provided by law in any securities and exchange in the Philippines within five 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 or more radio and/or television stations. Noncompliance therewith shall render the franchise ipso facto revoked."