Section 9
SEC. 9. The grantee shall be required by the Public Service Commission for each Certificate of Public Necessity and Convenience obtained by it subsequent to the date of this Act, to make within such period as the said Commission shall fix, a deposit of not less than one thousand pesos, Philippine currency, or negotiable bonds of the Government of the Philippines, or other securities approved by the Public Service Commission, of the par value of not less than one thousand pesos, Philippine currency, in the National Treasury as a guaranty of good faith that the grantee, within the period so specified by the Public Service Commission, shall commence and terminate the necessary work and shall be provided with all the equipment necessary to commence furnishing telephone service in the corresponding province, city and/or municipality. The Public Service Commission shall order the return of the deposit hereby required to the grantee upon the termination of the work for the furnishing of telephone service in accordance with the terms and conditions of the certificate obtained, and the Treasurer of the Philippines shall return said deposit immediately upon presentation to him of a certified copy of the order of the Public Service Commission.