Question & AnswerQ&A (Republic Act No. 9122)
The main purpose of Republic Act No. 9122 is to amend Section 11 of Republic Act No. 8483 concerning the grant of fiscal incentives to the Camiguin Telephone Cooperative for a period of ten years.
RA 9122 amends Section 11 of Republic Act No. 8483.
The franchise is granted to the Camiguin Telephone Cooperative to construct, establish, install, maintain, and operate a local exchange network in Camiguin Island and some areas of Misamis Oriental.
The grantee enjoys fiscal incentives as provided under Republic Act No. 6938, the Cooperative Code of the Philippines, as amended, for a period of ten years starting from the act's effectivity.
The fiscal incentives are granted for a period of ten years commencing from the date of effectivity of the act.
The grantee must comply with all the requirements and conditionalities prescribed under Republic Act No. 6938 prior to availing of the tax incentives.
RA 9122 took effect fifteen (15) days after its publication in at least two newspapers of general circulation in the Philippines, upon the initiative of the grantee.
The key officials were President Gloria Macapagal-Arroyo, Senate President Aquilino Q. Pimentel Jr., and House Speaker Feliciano Belmonte Jr.
The franchise covers Camiguin Island and specific municipalities in Misamis Oriental, including Balingasag, Lagonglong, Salay, Binuangan, Kinoguitan, Sugbongcogon, Balingoan, Talisayan, Medina, Magsaysay, and Gingoog City.
RA 6938, known as the Cooperative Code of the Philippines, provides the legal basis and provisions for the fiscal incentives granted to the cooperative under RA 9122.