Republic Act No. 4716

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1

Subject to the conditions imposed by this Act, there is hereby granted to Angeles Carriedo Vda. de Lat, Carolina Lat Perez de Tagle and Pedro C. Lat, Jr., a franchise to construct, operate and maintain ice plants and cold storages in the City and Province of Davao or its subdivisions, for the purpose of manufacturing and distributing ice and supplying cold storage services in Davao City and Province of Davao or its subdivisions thereof, and to charge and collect a schedule of prices and rates for ice and cold storage so furnished, which schedule of prices and rates shall at all times be subject to regulations by the Public Service Commission.

Section 2

The grantees shall manufacture and supply ice up to the limit of the capacity of their plants.

Section 3

This franchise shall continue for a period of twenty-five years from the date said plants and cold storages shall be placed in operation and/or shall commence the manufacture and distribution of ice in the City and Province of Davao or its subdivisions thereof and is made subject to the express condition that the same shall be null and void unless the construction of said plants and cold storages be commenced within four years from the date of the approval of this Act and completed within six years from said date, except when prevented by act of God or force majeure, martial law, riot, civil commotion, usurpation by military power or any other cause beyond the control of the grantees.

Section 4

This franchise is granted subject to the provisions of the Constitution and of Commonwealth Act Numbered One hundred forty-six, as amended, only insofar as rates are concerned, and with the understanding and upon the condition that it shall be subject to amendment, alteration or repeal by the Congress of the Philippines when and if public interest so require.

Section 5

The books, records and accounts of the grantee shall always be open to the inspection by the Auditor General or his representatives, and it shall be the duty of the grantees to submit to the Auditor General quarterly reports in duplicate, showing the gross receipts for the quarter past, who shall keep the same on file.

Section 6

In the event of any competing individual, association of persons, or corporation receiving from the Congress of the Philippines a similar franchise in which there shall be any term or terms more favorable than those herein granted, or tending to place the herein grantees at any disadvantage, then such term or terms shall ipso facto become a part of the terms hereof and shall operate equally in favor of the grantees as in the case of said competing individual, association of persons, or corporations.

Section 7

This Act shall take effect upon its approval.

Approved: June 18, 1966.