"Section 1. There is hereby granted to the Aguinaldo Development Corporation, its successors or assigns, a temporary permit to construct, establish, maintain and operate in the Philippines, at such places as the said company may select, subject to the approval of the Secretary of Public Works and Communications, private fixed point-to-point and land based, land mobile, private aeronautical, and private coastal link radio stations for the reception and transmission of wireless messages on radiotelegraphy or radiotelephony, each station to be provided with a radio transmitting apparatus and a radio receiving apparatus."

"Sec. 3. This temporary permit shall continue to be in force during the time that the Government has not established similar service at the places selected by the grantee, and is granted upon the express condition that the same shall be void unless the construction of said stations be begun within two years from the date of approval of this Act and be completed within three years from said date."

"Sec. 4. 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, establish, maintain and operate private fixed point-to-point and land based, land mobile, private aeronautical, private coastal link radio stations in such places within the Philippines as the interest of the company and of its trade and business may justify."