Section 1
SECTION 1. Subject to the terms and conditions established in this Act and in Commonwealth Act Numbered One hundred forty-six, as amended, and to the provisions of the Constitution, there is granted to the Northern Cagayan Enterprises for a period of twenty-five years from the approval of this Act, the right, privilege and authority to construct, maintain and operate ice plants and cold storages within the Philippines, for the purpose of manufacturing ice for distribution and sale and supplying cold storage in such places as the said firm may select, and to charge and collect a schedule of prices and rates therefor which schedule shall at all times be subject to regulation by the Public Service Commission.