Reportorial Requirement.
Section 17
SEC. 17. Reportorial Requirement. - The Grantee shall submit an annual report of its finances and operations to the Congress of the Philippines, through the Committee on Legislative Franchise of the House of Representatives and the Committee on Public Services of the Senate, on its compliance with the terms and conditions of the franchise and on its operations on or before April 30 of every year after the effectivity of this Act. The annual report shall include: an update on the rollout, development, operation, and/or expansion of the business; audited financial statements; latest GIS officially submitted to the SEC (if available or applicable; certification from the ERC on the status of its permits and operations; and an update on the dispersal of ownership undertaking, if applicable. The reportorial compliance certificate issued by Congress shall be required before any application for permit or certificate is accepted by the ERC.