Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The President of the Philippines is authorized, for a period of four years from the approval of this Act, to grant permits to persons, associations or corporations to construct, install, establish and operate in the Philippines radio transmitting stations, radio receiving stations for commercial purposes, or television or radio broadcasting stations: Provided, That such permits shall be for a period not exceeding one year from the date of the permit, extendible for periods not exceeding one year in every case, but in no case all extensions, including the original permit, shall exceed four years, and shall require that the station be operated in the public interest and subject to such terms and conditions as are not incompatible with those imposed upon grantees of franchise which may heretofore have been granted by law.

SEC. 2. The President is further authorized to issue rules and regulations governing the operation of the stations referred to in section one and for any violation of such rules and regulations to cancel any permit that may have been granted.

SEC. 3. The President shall inform the Congress within thirty days after the opening of every regular session of the permits granted in accordance with this Act.

SEC. 4. This Act shall take effect upon its approval.

Approved, July 2, 1946.