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Act No. 554 Section 33

Section 33

SEC. 33. Once that the declaration of forfeiture of the concession is signed all works which shall have been completed shall be put up to public auction and the concession shall be adjudicated to the highest bidder who shall pay to the original grantee the amount obtained in such auction for said works, deducting costs and expenses which the same may occasion. The basis of the auction shall be the estimated value of the technical study for the execution of the work, the lands bought, works completed, the existing plant and material for the execution of the works and the working of the line. The valuation shall be made by two experts, one to be named by the Government and the other by the grantee company, and a third who shall be named by common consent in case of disagreement.

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Other provisions in Act No. 554

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAct No. 554 Section 33 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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