Section 6
SEC. 6. Paragraph (A), and Sub-paragraphs (3) and (4) of Paragraph (c) of Section 10 of Republic Act Numbered Seven Hundred and Seventy-Six are hereby amended to read as follows: "SEC. 10. Powers and Duties of the Board.—(A) Except as otherwise provided herein, the Board shall have the power to regulate the economic aspect of air transportation, and shall have the general supervision and regulation of, the jurisdiction and control over air carriers, general sales agents, cargo sales agents, and airfreight forwarders as well as their property, property rights, equipment, facilities and franchise, insofar as may be necessary for the purpose of carrying out the provision of this Act. "(C) (3) To authorize any type of charters whether domestic or international and special air services or flight under such terms and conditions as in its judgment public interest requires. Notwithstanding the existence of bilateral air agreement, the CAB is authorized to grant any foreign airline increase in frequencies and/or capacities on international routes when in its judgment the national interest requires it, provided that the utilization of the increase frequencies and capacities is not more than thirty days. All grants of frequencies and/or capacities shall be subject to the approval of the President. "(C) (4) To approve or disapprove increase and/or decrease of capital, lease, purchase, sales or aircraft of air carrier engages in air commerce; consolidation, merger, purchase, lease and acquisition and control of operating contracts between domestic air carriers, between domestic and foreign air carriers, or between domestic air carriers or any persons engaged in any phase of aeronautics."