Question & AnswerQ&A (Republic Act No. 5046)
The main purpose is to grant Far East Business Enterprises a franchise to construct, maintain, and operate various radio broadcasting stations and provide private radio communication services in the Philippines.
Far East Business Enterprises, a single proprietorship existing under Philippine laws, its successors and assigns.
Radio broadcasting stations, fixed, aeronautical fixed, aeronautical, aircraft, land based, land mobile, portable, coast, ship, survival craft, radio determination, and radio beacon stations, including equipment for radiotelegraphy, radiotelephony, facsimile, and radioteletype.
The President can take over and operate the stations or authorize their use by any government department during such times, with due compensation to the grantee.
For 25 years from the date when the first station is placed in operation.
Construction of one or two stations must begin within two years from the approval of the Act, or the franchise becomes void.
No, the grantee cannot take private property without proper condemnation proceedings and just compensation.
The Government of the Philippines through the Public Service Commission.
The grantee must keep separate accounts of gross receipts, submit copies to the Auditor General and Treasurer annually, and allow official inspection and audit of records kept in the Philippines.
No, the grantee cannot lease, transfer, sell, or assign the franchise or its rights without prior approval from the Congress of the Philippines.
The grantee is entitled to have any more favorable terms extended to it ipso facto to avoid disadvantage.
Yes, Congress can amend, alter, or repeal the franchise when public interest requires it.
The grantee must execute a bond of five thousand pesos to guarantee faithful performance for the first three years, cancellable thereafter if obligations are fulfilled.
They revert to the national, provincial, or municipal government that owned them before concession to the grantee.
It took effect upon approval on June 17, 1967.