Existing Schemes.
Section 43
SEC. 43. Existing Schemes. - PDNGI Facilities that have been constructed prior to the effectivity of this Act shall continue to be operated under their existing permits and shall comply with additional requirements as applicable. The application and implementation of the pertinent provisions of this Act shall not impair vested rights or obligations of contracts. Current and subsisting agreements shall remain valid and in force in accordance with the existing terms and conditions agreed to by the parties until the expiration or termination thereof. All Permit Holder Holders and Participants shall comply with the provisions of this Act within two (2) years from the effectivity of the IRR of this Act: Provided, That health, safety, security, environmental, construction, operation, and other permits, licenses, certificates, and authorizations issued prior to the effectivity of this Act that are not inconsistent herewith shall remain valid. PDNG Transmission Systems and PDNG Distribution Systems existing at the time of the effectivity of this Act shall be allowed to continue pursuant to the terms and conditions indicated in their franchise and until the lapse of the period accorded therein.