Sale, Lease, Transfer, Usufruct, etc.
Section 11
SEC. 11. Sale, Lease, Transfer, Usufruct, etc. - The grantee shall not lease, transfer, grant the usufruct of, sell nor assign this franchise or the rights and privileges acquired thereunder to any person, firm, company, corporation or entity not otherwise enfranchised for broadcasting services without the prior approval of the Congress of the Philippines. The controlling interest in the grantee shall not be transferred, assigned nor sold whether as a whole or in parts and whether simultaneously or contemporaneously within five (5) years from the date of the effectivity of this Act. Any person or entity to which this franchise is sold, transferred or assigned shall be subject to all the same conditions, terms, restrictions, and limitations of this Act.