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 hereby granted to Ernesto S. Magboo, hereinafter referred to as the grantee, for a period of twenty-five years from the approval of this Act, the right, privilege and authority to. construct, operate and maintain an ice plant and cold storage in the City of Manila, for the purpose of manufacturing ice for distribution and sale, and for supplying cold storage therein and suburbs, and to charge and collect a schedule of prices and rates therefor which schedule of prices shall at all times be subject to regulation by the Public Service Commission or its legal successor.