Section 5. Requirements. —

1. To exercise the power of initiative or referendum, at least ten per centum (10%) of the total number of the registered voters, of which every legislative district is represented by at least three per centum (3%) of the registered voters thereof, shall sign a petition for the purpose and register the same with the Commission.

2. A petition for an initiative on the 1987 Constitution must have at least twelve per centum (12%) of the total number of registered voters as signatories, of which every legislative district must be represented by at least three per centum (3%) of the registered voters therein. Initiative on the Constitution may be exercised only after five (5) years from the ratification of the 1987 Constitution and only once every five (5) years thereafter.

3. The petition shall state the following:

   c.1.  contents or text of the proposed law sought to be enacted, approved or rejected, amended or repealed, as the case may be;

   c.2.  the proposition;

   c.3.  the reason or reasons therefor;

   c.4.  that it is not one of the exceptions provided herein;

   c.5.  signatures of the petitioners or registered voters; and

   c.6.  an abstract or summary in not more than one hundred (100) words which shall be legibly written or printed at the top of every page of the petition.

4. A referendum or initiative affecting a law, resolution or ordinance passed by the legislative assembly of an autonomous region, province or city is deemed validly initiated if the petition thereof is signed by at least ten per centum (10%) of the registered voters in the province or city, of which every legislative district must be represented by at least three per centum (3%) of the registered voters therein; Provided, however, That if the province or city is composed only of one (1) legislative district, then at least each municipality in a province or each barangay in a city should be represented by at least three per centum (3%) of the registered voters therein.

5. A referendum of initiative on an ordinance passed in a municipality shall be deemed validly initiated if the petition therefor is signed by at least ten per centum (10%) of the registered voters in the municipality, of which every barangay is represented by at least three per centum (3%) of the registered voters therein.

6. A referendum or initiative on a barangay resolution or ordinance is deemed validly initiated if signed by at least ten per centum (10%) of the registered voters in said barangay.