Republic Act No. 1118

: Republic Act No. 1118 is an Act approving any assignment, sale, and transfer of the franchise granted to Jose Catolico by Republic Act No. 466 in favor of Jose Catolico Electric Light and Power Co., Inc.
: Jose Catolico was originally granted the franchise under Republic Act No. 466.
: It approves the assignment, sale, and transfer of the franchise granted to Jose Catolico along with all property and equipment acquired under the franchise to Jose Catolico Electric Light and Power Plant Co., Inc.
: The franchise pertains to the municipality of Buayan, Province of Cotabato.
: The law shall take effect upon its approval.
: The approval is subject to the provisions of Republic Act No. 466, meaning all conditions and regulations under RA 466 still apply.
: All the property and equipment acquired under the franchise are included in the transfer.
: The Senate and House of Representatives of the Philippines in Congress assembled enacted the Act.
: It legally authorizes the change of ownership and control of the franchise and its assets to a corporate entity, ensuring legitimacy and continuity of services.
: No, the transfer must be approved by the Philippine Congress as specifically done in RA 1118.