Penalty Clause.
Section 16
SEC. 16. Penalty Clause. – Failure of the grantee to submit the requisite annual report to Congress shall be penalized by a fine in the amount of five hundred pesos (P500.00) per working day of noncompliance. The fine shall be collected by the CAB from the delinquent franchise grantee, separate from the reportorial penalties imposed by the CAB.