Republic Acts
Republic Act No. 2041
PHILIPPINE LAWS, STATUTES AND CODES - CHAN ROBLES VIRTUAL LAW
LIBRARY
REPUBLIC
ACT NO. 2041
Back to Main
chanroblesvirtuallawlibrary
REPUBLIC ACTS
| REPUBLIC ACT NO. 2041 - AN ACT TO
GRANT TO THE METROPOLITAN EXPRESS COMPANY, INCORPORATED, A FRANCHISE TO
CONDUCT A MESSENGER AND DELIVERY EXPRESS SERVICE |
| Section
1. Any provision of law to the contrary
notwithstanding, the Metropolitan Express Company, Incorporated, a
Philippines corporation duly registered with the Securities and
Exchange Commission, is hereby granted a franchise to conduct a
messenger and delivery express service of packages and of oral or
written messages, at regular intervals and/or in specific or rush
emergency cases through all hours of the day, for a period of fifty
years from the approval of this Act. Sec. 2. The grantee is hereby empowered to fix its service charges subject to the approval of the Public Service Commission. Sec. 3. The Metropolitan Express Company, Incorporated, in addition to the taxes imposed by the Internal Revenue Code, shall also pay an additional annual tax at the rate of one per cent on its net profit, the proceeds of which shall accrue to the National Government.cralaw Sec. 4. This franchise is granted subject to the condition that it shall be subject to the amendment, alteration, or repeal when the public interest so requires and shall not be understood as exclusive in character.cralaw Sec. 5. The grantee shall file a bond in the
amount of ten thousand pesos to answer for any loss or damages that any
customer or customers may sustain. |
chanroblesvirtuallawlibrary
