March 2020 - ABO LAW FIRM

ABO LAW FIRM

HOUSE BILL 59: AMENDMENT TO THE RETAIL TRADE LIBERALIZATION ACT OF 2000

On March 05, 2020, the House of Representatives approved on the second reading House Bill 59. The said bill if signed into law will amend Republic Act (RA) 8762 or the Retail Trade Liberalization Act of 2000. As a background, RA 8762 was passed “to promote consumer welfare in attracting promoting and welcoming productive investment that will bring down price for the Filipino consumer, create more jobs, promote tourism, assist small manufacturers, stimulate economic growth and enable Philippine goods and services to become globally competitive through the liberalization of the retail trade…

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THE REAL ESTATE INVESTMENT TRUST (REIT) : SALIENT PROVISIONS OF R.A. 9856

Republic Act (RA) 9856 otherwise known as “An Act Providing the Legal Framework for Real Estate Investment Trust and for Other Purposes” or the Real Estate Investment Trust (REIT) Act of 2009 lapsed into law on December 17, 2009 when then President Gloria Macapagal Arroyo did not sign the same. PURPOSE OF REAL ESTATE INVESTMENT TRUST LAW The purpose of the REIT law as pursuant to Section 2 thereof is “It is the policy of the State to promote the development of the capital market, democratize wealth by broadening the participation of…

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