Section 13
SEC. 13. The grantee may, with the prior approval of the Public Utility Commission or its lawful successors, sell, lease, give, grant, convey, or assign the franchise granted him by this Act and all property and rights acquired thereunder, to any person, company or corporation competent to carry on the business authorized therein, but no title to the franchise or to the property or rights acquired thereunder shall pass by sale, lease, donation, grant, conveyance, or assignment to the vendee, donee, assignee, or lessee, nor shall the same be enjoyed by him- until he shall have filed in the office of the Secretary of Commerce and Communications an agreement in writing binding himself to comply with all the terms and conditions imposed upon the grantee by the franchise and accepting the franchise subject to all its existing terms and conditions.