Scope of Transactions Covered
- Covers multiple forms of transactions affecting the franchise: transfer, assignment, sale, and mortgage.
- Includes all rights and privileges conferred by the franchise, ensuring that these are transferred along with the franchise.
Conditions and Legal Compliance
- Requires adherence to constitutional provisions, ensuring that the franchise transfer does not violate constitutional mandates.
- Obligates compliance with the original franchise's terms and conditions, preserving the integrity and intent of the original grant.
Effective Date and Legislative Context
- The Act took effect immediately upon approval.
- Enacted by the Philippine Congress without the need for executive approval, indicating legislative intent to expedite its implementation.