SECTION 1. Section one of Republic Act Numbered Forty hundred and twelve, as amended, is hereby further amended, to read as follows:
"SECTION 1. Subject to the terms and conditions established in Act Numbered Thirty-six hundred and thirty-six, as amended by Commonwealth Act Numbered One Hundred thirty-two, and to the provisions of the Constitution, there is granted to Pototan Electric Light and Power Corporation in the Municipality of Pototan, Province of Iloilo, for a period of twenty-five years from approval of this Act, right, privilege and authority to construct, maintain and operate light, heat and/or power system and an ice plant for the purpose of generating, distributing, electric light, heat and/or power and manufacturing ice for distribution and sale within the said municipality, all the municipalities of the fourth legislative district of Iloilo, and in the neighboring municipalities."