Section 7
SEC. 7. The grantee shall not lease, transfer, grant the usufruct of, sell or assign this franchise or the rights and privileges acquired thereunder to any person, firm, company, corporation or other commercial or legal entity, nor merge with any other company or corporation organized for the same purpose, without previous approval of the Congress of the Philippines. Any corporation to which this franchise is sold, transferred or assigned shall be subject to all the conditions, terms, restrictions, and limitations of this franchise as fully and completely and to the same extent as if the franchise has been originally granted to said person, firm, company or corporation or other commercial or legal entity.