Republic of the Philippines
CONGRESS OF THE PHILIPPINES
Metro ManilaFourteenth Congress
Third Regular SessionRepublic Act No. 9743 November 06, 2009
AN ACT AMENDING REPUBLIC ACT NO. 9119, ENTITLED "AN ACT GRANTING THE BENGUET BROADCASTING CORPORATION A FRANCHISE TO CONSTRUCT, INSTALL, ESTABLISH, OPERATE AND MAINTAIN RADIO AND TELEVISION BROADCASTING STATIONS IN THE PHILIPPINES"
Be it enacted by the Senate and House of Representative of the Philippines in Congress assembled:
Section 1. Section 13 of Republic Act No. 9119 is hereby amended to read as follows:
"SECTION 13. Sale, Lease, Transfer, Usufruct, etc. - The grantee shall not lease, transfer, grant the usufruct of sell nor assign this franchise or the rights and privileges acquired thereunder to any person, firm, company, corporation or other commercial or legal entity, nor merge with any other corporation or entity, nor shall the controlling interest of the grantee be transferred, whether as a whole or in parts and whether simultaneously or contemporaneously, to any such person, firm, company, corporation or entity without the prior approval of the Congress of...
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Republic Acts
AN ACT AMENDING REPUBLIC ACT NO. 9119
Republic Act No. 9743
Summary of Republic Act No. 9743
Amendments to Republic Act No. 9119
- Section 13 (Sale, Lease, Transfer, Usufruct, etc.):
• The grantee (Benguet Broadcasting Corporation) cannot lease, transfer, grant usufruct, sell, or assign the franchise or rights without prior approval from Congress, except for:
• Transfer or issuance of shares to investors for increasing authorized capital stock (Section 13(a))
• Transfer or sale of shares to investors (Section 13(b))
• Sale, transfer, or assignment of shares to a holding company with identical stockholders (Section 13(c))
• Combination of the above for raising capital or financing authorized services (Section 13(d))
• Any entity to which the franchise is sold or transferred is subject to the same conditions and limitations (Section 13)
- Section 16 (Equality Clause):
• Any advantage, favor, privilege, exemption, or immunity granted to other broadcasting franchises shall also apply to this franchise, except for provisions on territory covered, franchise lifespan, or type of service (Section 16)
- Effectivity:
• The Act takes effect 15 days after publication in at least two newspapers of general circulation, upon the grantee's initiative (Section 3)
Amendments to Republic Act No. 9119
- Section 13 (Sale, Lease, Transfer, Usufruct, etc.):
• The grantee (Benguet Broadcasting Corporation) cannot lease, transfer, grant usufruct, sell, or assign the franchise or rights without prior approval from Congress, except for:
• Transfer or issuance of shares to investors for increasing authorized capital stock (Section 13(a))
• Transfer or sale of shares to investors (Section 13(b))
• Sale, transfer, or assignment of shares to a holding company with identical stockholders (Section 13(c))
• Combination of the above for raising capital or financing authorized services (Section 13(d))
• Any entity to which the franchise is sold or transferred is subject to the same conditions and limitations (Section 13)
- Section 16 (Equality Clause):
• Any advantage, favor, privilege, exemption, or immunity granted to other broadcasting franchises shall also apply to this franchise, except for provisions on territory covered, franchise lifespan, or type of service (Section 16)
- Effectivity:
• The Act takes effect 15 days after publication in at least two newspapers of general circulation, upon the grantee's initiative (Section 3)