Sec. 2. The President of the Philippines shall have the power and authority to permit the location of said private fixed point-to-point and land based radio stations and land mobile service on lands of the public domain upon such terms as he may prescribe.

Sec. 3. The grantee 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 franchise is to secure to the grantee the right to construct, install, maintain and operate radio stations within the Philippines as the interest of the Company and of its business may justify.

Sec. 4. This franchise shall be for a period of twenty-five years from the date of its approval: Provided, That the holder of the franchise herein granted shall start the operation of said stations within one year from the approval of this Act.

Sec. 5. The grantee shall so construct and operate its radio stations as not to interfere with the operation of other radio stations maintained and operated in the Philippines.

Sec. 6. The grantee is authorized to operate its private radio stations on the frequency and/or frequencies assigned to it by the Secretary of Public Works and Communications.

Sec. 7. 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 government, upon just compensation.

Sec. 8. This franchise shall be subject to amendment, alteration, or repeal by the Congress of the Philippines when the public interest so requires, and shall not be interpreted as an exclusive grant of the privilege herein provided for.

Sec. 9. This Act shall take effect upon its approval.

Approved: June 16, 1955