Section 7
SEC. 7. The grantee shall not lease, transfer, grant the usufruct of, sell or assign this franchise, or the rights privileges acquired thereunder to any person, firm, any corporation or other commercial or legal entity, merge with any other company or corporation organized for the same purpose, without the approval of the Congress of the Philippines first had.Any corporation to which this franchise is sold, transferred or assigned, shall be subject to all the conditions, terms, restrictions limitations of this franchise as fully and completely and to the same extent as if the franchise had been originally granted to the said person, firm, company, corporation or other commercial or legal entity.