"Section 1. Subject to the provisions of the Constitution, as well as of Act Numbered Three thousand eight hundred forty-six, entitled "An Act providing for the regulation of radio stations and radio communications in the Philippine Islands, and for other purposes;" Act Numbered Three thousand nine hundred and ninety-seven, known as the Radio Broadcasting Law; Commonwealth Act Numbered One hundred forty-six, known as the Public Service Act, and their amendments, and other applicable laws, there is hereby granted to Eduardo Lopez, a temporary permit to construct, maintain and operate, for commercial purposes and in the public interest, radio broadcasting station in the Philippines: Provided, That this temporary permit shall be void unless the construction of the said station be begun within one and a half years from the approval of said temporary permit: Provided, further, That the grantee shall provide adequate public service time to enable the Government, through the station herein authorized, to reach the population on important public issues; shall assist in the functions of public information and education; shall conform to the ethics of honest enterprise; and shall not use said station for the broadcasting of obscene or indecent language or speech, or for the dissemination of deliberately false information or willful misrepresentation, or to the detriment of the public health, or to incite, encourage or assist in subversive or treasonable acts.

"Sec. 2. 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.

"Sec. 3. The grantee shall file a bond in the amount of fifty thousand pesos to guaranty the full compliance and fulfillment of the conditions under which this temporary permit is granted.

"Sec. 4. In the event of any competing individual partnership or corporation receiving from the Congress a similar temporary permit in which there shall be any term or terms more favorable than those herein granted or tending to place the herein grantee 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 grantee as in the case of said competing individual, partnership or corporation.

"Sec. 5. In the event the Government should desire to maintain and operate for itself the radio broadcasting station herein authorized, the grantee shall turn over such station to the Government with all the serviceable equipment therein, at cost, less reasonable depreciation.

"Sec. 6. The grantee shall not require any previous censorship of any speech, play or other matter to be broadcast from its stations; but if any such speech, play or other matter should constitute a violation of the law or infringement of a private right, the grantee shall be free from any liability, civil or criminal, for such speech, play or other matter: Provided, That the grantee, during any broadcast may cut off from ther the speech, play or other matter being broadcast if the tendency thereof is to propose and/or incite treason, rebellion or sedition, or the language used therein or the theme thereof is indecent or immoral."