AN ACT TO AMEND SECTION ONE OF COMMONWEALTH ACT NUMBERED ONE
HUNDRED TWENTY FIXING THE PERIOD OF EXISTENCE OF THE
NATIONAL POWER CORPORATION
SECTION 1.
Section one of Commonwealth Act
Numbered One hundred twenty is amended so as to read as follows:
“SECTION 1.
For the purpose of undertaking the development of
water for hydroelectric power and the production of power from other sources and
for other purposes specified in this Act, there is hereby created a public
Corporation which shall be known as the
‘National Power Corporation’, and which
shall exist until December thirty-one, twenty hundred.
Unless
its corporate life is extended anew, the
corporation shall continue thereafter as a corporate body for such time as
may be necessary for the purpose of liquidation.
The
words ‘Corporation’ and ‘Board’
appearing in this Act shall respectively refer to the
National Power Corporation and the
National Board, hereinafter created.”
SEC. 2.
All laws or provisions of laws and executive orders
contrary to this Act are hereby repealed.
SEC. 3.
This Act shall take effect upon its approval.
Approved, June 13, 1958
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