Sec. 2. The President of the Philippines shall have the power and authority to permit the location of said private fixed point-to-point radio stations or any of them on the public domain upon such terms as he may prescribe.

Sec. 3. This temporary permit shall continue to be in force during the time that the Government has not established similar service at places selected by the grantee, and is made upon the express condition that the same shall be void unless the construction of said stations be completed within one and one-half years from the date of approval of this Act.cralaw

Sec. 4. Radiowealth, Inc., shall not engage in domestic business of telecommunications in the Philippines without further special assent of the Congress of the Philippines, it being understood that the purpose of this temporary permit is to secure the grantee the right to construct install, establish and operate private fixed point-to-point and private base and land mobile stations in places within the Philippines as the interest of its industrial and/or agricultural activities justify.cralaw

Sec. 5. A special right is hereby reserved to the President of the Republic of the Philippines in the time of war, insurrection, public peril, calamity, disaster, or disturbance of peace or order to cause the closing of any or all stations or to authorize the temporary use or possession thereof by any department of the Government, upon just compensation.cralaw

Sec. 6. No fees shall be charged by the grantee as the radio stations that may be established by virtue of this Act shall engage in communications regarding the grantee's business only.cralaw

Sec. 7. The grantee, its successors or assigns, shall hold the National, provincial and municipal governments of the Philippines harmless from all claims, accounts, demands, or actions arising out of accidents or injuries, whether to property or to persons caused by the construction or operation of the stations for reception and transmission of wireless messages by the grantee, its successors or assigns.

Sec. 8. The grantee, its successors or assigns, shall so construct and operate its radio stations as not to interfere with the operation of other radio stations maintained and operated in the Philippines.cralaw

Sec. 9. No private property shall be taken for any purpose by the grantee of this temporary permit, its successors or assigns, without proper condemnation proceedings and just compensation paid or tendered therein, and any authority to take and occupy land contained herein shall not authorize the taking, use, or occupation of any land except such as is required for the actual necessary purposes for which the temporary permit is granted. All lands or rights of use and occupation of lands granted to the grantee, its successors or assigns, shall, upon the termination of this temporary permit or upon its revocation or repeal, revert to the National, provincial or municipal government to which such land or right to use and occupy belonged at the time of the grant thereof or the right to use and occupy the same was conceded to the grantee herein, its successors or assigns.cralaw

Section 10. The grantee, its successors or assigns, shall be subject to the corporation laws of the Philippines now existing or which may hereafter be enacted.cralaw

Section 11. This temporary permit shall not be interpreted to mean as an exclusive grant of the privilege herein provided for and is granted subject to the condition that it shall be subject to amendment, alteration, or repeal by the Congress when the public interest so requires.cralaw

Section 12. This Act shall take effect upon its approval.cralaw

Approved: June 12, 1954