Section 14
SEC. 14. At any time after forty years from the date of the approval of this Act, the Republic of the Philippines or any of the political subdivisions thereof to which the right may be assigned, may purchase, and the grantee shall sell thereto, all of his plant, poles, wires, buildings real estate and all other property used in the enjoyment of this franchise, at a valuation based in part upon the net earnings of the grantee and its true worth on the books, making the proper deduction for depreciation; in part on the cost of the actual reproduction of said property, less depreciation, and, in part, on the original cost of said property, less depreciation, the valuation to be determined after hearing by the three Commissioners of the Public Service Commission, sitting as a board of arbitrators, whose decision by a majority of the members thereof shall be final.