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

SECTION 1. Section 1 of Republic Act No. 7529 is hereby amended to read as follows:

"SECTION 1. Nature and Scope of Franchise. — Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to Vanguard Radio Network  Company, Inc., its successors or assigns, hereunder referred to as the grantee, a franchise to construct, install, operate and maintain for commercial purposes and in the public interest, radio and television broadcasting stations in the island of Luzon and in Regions 6,7,10, and 11 with the corresponding auxiliary, special broadcast and other program and distribution services and relay stations, and to install radio communication facilities for the grantee's private use in its broadcast services."

SEC. 2. Self-regulation by and Undertaking of Grantee. — The grantee shall not require any previous censorship in any speech, play, act, scene or other matter to be broadcast and/or telecast from its stations: Provided, That the grantee during any broadcast and/or telecast, shall cut off from the air the speech, play, act, scene, or other matter being broadcast if the tendency thereof is to propose and/or incite treason, rebellion or sedition, or the language used therein or the theme thereof is indecent or immoral, and willful failure to do so shall constitute a valid cause for the cancellation of this franchise.

SEC. 3. Effectivity Clause. — This Act shall take effect upon its approval.

Lapsed into law on June 19, 1995 without the President's signature, pursuant to Sec. 27(1), Article VI of the Constitution.