Section 8
SEC. 8. The grantee, with the approval of the Congress of the Philippines first had, may sell, lease, grant, convey, assign, give in usufruct, or transfer this franchise and all properties, equipment and rights acquired thereunder to any qualified individual, association of persons or corporation competent to operate the business hereby authorized: Provided, however, That the grantee may mortgage the said franchise and all property, equipment and rights acquired and operated thereunder in favor of any government-owned or controlled financing institution, with the prior approval of the Public Service Commission.