Approval of franchise transfer to electric company

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Republic Act No. 1118: Approval of franchise transfer to electric company

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Title Source: Supreme Court: Approval of franchise transfer to electric company

Law: Republic Act No. 1118

Decision Date: Jun 15, 1954

Republic Act No. 1118 approves the assignment, sale, and transfer of a franchise for an electric light and power system in Buayan, Cotabato, allowing Jose Catolico to transfer his franchise to the 'Jose Catolico Electric Light and Power Plant Co., Inc.' for immediate implementation.

Law Summary

Compliance with Original Franchise Law

The approval is subject to the provisions of Republic Act No. 466, which initially granted the franchise to Jose Catolico.
This implies that all conditions and limitations of the original franchise law remain applicable.

Effectivity of the Act

The law takes effect immediately upon approval.
There is no delay or conditional effectivity period mentioned.

Legal Implications

The act formalizes the legal process of transferring a franchise in the utility sector.
It ensures the continuity of service under the new corporate entity.
Provides clear legal sanction for transfer of rights, property, and equipment related to the franchise.

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