Any cable television company which was lawfully engaged in actual operations of a cable television system serving at least 50 subscribers on January 1, 1984, may continue to operate, maintain and manage that cable system and to that end the Commission is hereby directed to issue a franchise to such cable television company, provided however that such company must file with the Commission on or before January 1, 1985, a sworn statement agreeing to comply with the conditions set forth in section 310 of this chapter, and containing such information and supportive documentation as set forth in section 308 of this chapter. The Commission shall thereupon issue said franchise consistent with the provisions of section 307 of this chapter.