Section 5
SEC. 5. After grantee's compliance with the requirements of the next preceding section, the Public Service Commission or its legal successor, by proper order shall authorize the construction of necessary work for the purposes of this franchise within a reasonable time to be determined by the Commission. Upon determination by the Public Service Commission or its legal successor after hearing, upon reasonable written notice to the grantee, that the grantee has violated any of the provisions of this section as to commencement or completion of work authorized by the certificate of convenience and public necessity, the said Commission or its legal successor shall declare the bond or bonds forfeited as liquidated damages and not *as penalty to the National Government. The said Commission or its legal successor shall order the return thereof by the Treasurer of the Philippines, to the grantee upon satisfactory completion of any work authorized by its certificate of convenience and public necessary, in accordance with the terms" and conditions of said certificate obtained, and the Treasurer of the Philippines shall return said deposit to the grantee together with the said interest and dividends immediately upon presentation to him of a certified copy of such order of the Public Service Commission or its successor.