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

SECTION 1. Pursuant to the provisions of Republic Act Numbered Twenty-three hundred seventy-four, entitled "An Act granting the Bulletin Publishing Company, Inc., a franchise to construct, maintain and operate radio broadcasting and television stations in the Philippines," approval is hereby given to transfer the franchise, rights and privileges granted to the Bulletin Publishing Company, Incorporated, under the said Act, in favor of the Bulletin Publishing Corporation.

SEC. 2. This Act shall take effect upon its approval.

Approved, June 17, 1961.