Republic Act No. 5728

Be it enacted by the Senate mid House of Representatives of the Philippines in Congress assembled:

Section 1

There is hereby granted to the Far East Bank and Trust Company, its successors or assigns, a temporary permit to construct, maintain and operate in the Philippines, at Manila and at such places as the corporation may select subject to the approval of the Secretary of Public Works and Communications, private fixed point-to-point and land based and land mobile radio stations for the reception and transmission of wireless messages on radiotelegraphy or radio-telephony, each station to be provided  a  radio  transmitting  and  receiving  apparatus.

Section 2

The grantee, its successors or assigns, shall not engage in domestic business of telecommunications in the Philippines without further special assent of the Congress of the Philippines, it being understood that the purpose of this temporary permit is to secure to the grantee the right to construct, install, maintain, and operate private fixed point-to-point and land based and land mobile radio stations in such places within the Philippines as the interest of the grantee may justify, as well as to enable it to better serve the public in the dissemination of news and events of national interest.

Section 3

No fees shall be charged by the grantee as the radio stations that may be established by virtue of this Act shall engage in communications regarding the grantee's business only.

Section 4

The  grantee, its successors or assigns, shall construct and operate its radio stations in such a way hat they do not interfere with the operation  of other radio stations maintained and operated in the Philippines.

Section 5

The grantee, its successors or assigns, shall hold the national, provincial, city and municipal governments of the Philippines harmless from all claims, accounts, demands, or actions arising out of accidents or injuries, whether to property or to persons, caused by the construction or operation of its radio stations.

Section 6

The grantee, its successors or assigns, shall be subject to the corporation laws of the Philippines now existing or which may hereafter be enacted.

Section 7

The grantee, its successors or assigns, is authorized to operate its private fixed point-to-point and land-based and land mobile radio stations in the medium frequency that may be assigned to it by the Secretary of Public Works and Communications.

Section 8

A special right is hereby reserved to the President of the Philippines in time of war, insurrection, public peril, calamity or disaster to cause the    closing of the grantee's radio stations or to authorize the temporary use or possession thereof by any department of the gov-ernment upon payment of just compensation.

Section 9

This temporary permit shall be subject to amendment, alteration, or repeal by the Congress of the Philippines when public interest so requires, and shall not be interpreted as an exclusive grant of the privilege herein provided.

Section 10

This Act shall take effect upon its approval.

Enacted  without Executive approval, June 21, 1969.