Section 16
SEC 16. Dispersal of Ownership.-In accordance with the constitutional provisions to encourage public participation in the public utilities, the grantee shall offer at least thirty percentum (30%) of its outstanding capital stock or a higher percentage that may hereafter be provided by law in any securities exchange in the Philippines within ten (10) years from the commencement of its operations. Non compliance therewith shall render the franchise ipso facto revoked.