Restrictions on Transfer, Lease, or Assignment of Franchise
- The franchise or any rights and privileges acquired thereunder cannot be leased, transferred, granted in usufruct, sold, assigned, or merged with another company without prior approval from the Congress of the Philippines.
- Any corporation or entity to which the franchise is sold, transferred, or assigned must comply fully with the conditions, terms, restrictions, and limitations of the original franchise.
- Such entities are also subject to existing or future corporation laws of the Philippines.
Repeal of Certain Sections
- Sections thirteen and fourteen of Republic Act Numbered Five Hundred Thirteen, as amended, are repealed by this Act.
Amendment of the Act’s Title
- The title of the original Act is amended to reflect the grant of the franchise specifically to the Republic Broadcasting System.
- The amended title indicates the authorization to construct, maintain, and operate stations for both television and radio broadcasting within the Philippines, as well as radio stations for international and domestic telecommunications.
Effectivity of the Act
- The Act takes effect immediately upon its approval.
- The Act was enacted without the approval of the Executive branch on June 15, 1968.