A new Section 20 is hereby inserted to read as follows: "SEC. 20. Penalty Clause.
Section 12
SEC. 12. A new Section 20 is hereby inserted to read as follows: "SEC. 20. Penalty Clause.- Failure of the grantee to submit the requisite annual report to Congress shall be penalized by a fine in the amount of one million pesos (1,000,000.00) per working day of noncompliance, the effectivity of which shall commence upon applicability with other telecommunications franchise grantees: Provided, That in the interim, the grantee shall be liable to pay the fine of five hundred pesos (P500.00) per working day of noncompliance. The fine shall be collected by the NTC from the delinquent franchise grantee separate from the reportorial penalties imposed by the NTC and the same shall be remitted to the National Treasury."