Section 1
SECTION 1. The sale, transfer and conveyance to the Visayan Electric Co., Inc., of the franchise and all the properties and rights acquired thereunder of the Visayan Electric Co., S.A., granted under Act Numbered Thirty-four hundred ninety-nine, to operate and maintain an electric light, heat and power system in the City of Cebu and in the municipalities of Talisay, Minglanilla, Naga, San Fernando, Mandawe, Consolacion, Liloan, and Compostela, all in the Province of Cebu, is hereby authorized and approved. The Visayan Electric Co., Inc., shall, therefore, be subject to the provisions of said Act Numbered Thirty-four hundred ninety-nine.