An Act to Amend Republic Act Numbered Forty Hundred Twelve, Entitled "An Act Granting Pototan Electric Light and Power Corporation a Franchise for an Electric Light, Heat and Power System in the Municipality of Pototan, Province of Iloilo"
"Sec. 1. Subject to the terms and conditions established in Act Numbered Thirty-six hundred and thirty-six, as amended by Commonwealth Act Numbered One hundred thirty-two, and to the provisions of the Constitution, there is granted to Pototan Electric Light and Power Corporation in the Municipality of Pototan, Province of Iloilo, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to construct, maintain and operate electric light, heat and power system and an ice plant for the purpose of generating, distributing electric light, heat and/or power and manufacturing ice for sale within the limits of the said municipality."
Section 2. The same Act is further amended by inserting between Sections two and three thereof the following new sections which shall read as follows:
"Sec. 2-A. The grantee shall manufacture and supply ice up to the limit of the capacity of its plant, said limit to be determined by the Public Service Commission.
"Sec. 2-B. All the apparatus and appurtenances to be used by the grantee shall be modern, safe and first class in every respect, and the grantee shall, whenever the Public Service Commission shall determine that public interest reasonably requires it, change or alter any of its apparatus and appurtenances at grantee’s expense.
"Sec. 2-C. If the grantee shall not commence the manufacture and distribution of ice in the Municipality of Pototan, Province of Iloilo, within two years from the approval of this Act, unless prevented by an act of God or force majeure, martial law, riot, civil commotion, usurpation by a military power or any other cause beyond the grantee’s control, this franchise shall be null and void.
"Sec. 2-D. This franchise is granted subject to the provisions of the Constitution and Commonwealth Act Numbered One hundred forty-six, as amended, and with the understanding and upon the condition that it shall be subject to amendment, alteration, or repeal by the Congress of the Philippines when public interest so requires.
"Sec. 2-E. The books, records and accounts of the grantee shall always be open to the inspection of the Auditor General or his authorized representatives, and it shall be the duty of the grantee to submit to the Auditor General quarterly reports in duplicate showing the gross receipts for the quarter past.
"Sec. 2-F. In consideration of the franchise and rights hereby granted, the grantee shall pay a franchise tax equal to five per centum of the gross earnings for electric current and ice sold under this franchise, three per centum of which shall accrue to the National Government and two per centum to the municipality where the franchise is in operation."
Section 3. The title of the same Act is hereby amended to read as follows:
Approved: June 19, 1965.
