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HOUSE BILL 78: PROPOSED AMENDMENTS TO THE PUBLIC SERVICE LAW AND ITS EFFECT ON PUBLIC UTILITIES AND FOREIGN OWNERSHIP

On 10 March 2020, the House of Representatives approved on the third and final reading House Bill 78, which if passed into law, will amend Commonwealth Act No. 89 or the Public Service Law. HB 78, if passed into law, would put a statutory definition on a public utility which under the current law is considered the same as public service. Putting a definition to, and limiting what is considered a public utility to just a handful of industries would effectively remove foreign-ownership restrictions on the industries not considered as public utilities.…

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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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EASE OF DOING BUSINESS ACT AND THE ANTI-RED TAPE AUTHORITY COUNCIL

Republic Act No. 11032 or the Ease of Doing Business Act is a landmark legislation which created a framework for the government’s initiative to make investment in the Philippines more attractive. Included in the law is the creation and/or appointment of the bodies that are tasked to implement its provisions thereof, the Anti-Red Tape Authority (ARTA) and the Ease of Doing Business and Anti-Red Tape Advisory Council. THE ANTI-RED TAPE AUTHORITY (ARTA) The ARTA, which is attached to the office of the President, is tasked by law to ensure that the provisions…

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CORONAVIRUS, THE STATE’S EXERCISE OF POLICE POWER, AND ALTERNATIVES SOURCES OF INVESTMENT

The COVID-19 or the Coronavirus epidemic that started in Wuhan, China has become one of the more pressing issues the international community is facing right now. Efforts have been made and strategies devised in order to stop the virus from further spreading. However, despite untiring efforts, the viral infection has been slowly spreading worldwide. Coronavirus epidemic that started in Wuhan As of this date, the Philippines has three (3) confirmed COVID-19 cases and there are fears that the number of infected might increase due to the recent influx of tourists and investors…

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DATA PRIVACY ACT OF 2012: REPUBLIC ACT (RA) 10173

On 15 August 2012 President Benigno Aquino, Jr. signed into law Republic Act (RA) 10173 or the Data Privacy Act of 2012. This law aims to protect the fundamental right of privacy of communication while ensuring free flow of information to promote innovation and growth. (Sec 2, RA10173) One of the important goals of the aforementioned law is to protect an individual’s personal information from unauthorized processing by any natural or juridical person. The following are the salient portion of RA10173. WHAT KIND OF INFORMATION DOES THE DATA PRIVACY ACT OF 2012…

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PUBLIC-PRIVATE PARTNERSHIP (PPP) IN THE PHILIPPINES AS GOVERNED BY RA 9184 AND RA 6957 AS AMENDED BY RA 7718

Public-Private Partnership (PPP) is an agreement between the public sector and private entities to jointly undergo certain projects which are normally provided by the public sector including but not limited to infrastructure and services. PPPs are advantageous to both the public and private sectors as the former can acquire funding for projects and at the same time mitigate their risks. On the other hand, private entities entering into PPPs have the opportunity to invest in projects with a reasonable rate of return. RA 9184: GOVERNMENT PROCUREMENT REFORM ACT - PUBLIC-PRIVATE PARTNERSHIP (PPP)…

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TYPES OF COMPANY SETUP OF BUSINESS PROCESS OUTSOURCING (BPO) IN THE PHILIPPINES

The Business Process Outsourcing (BPO) industry is a booming business sector in the Philippines. With the Filipino workforce’s competence and high education coupled with the reasonable cost of doing business in the country, the Philippines has become one of the premier destination for outsourcing. For foreign investors looking into entering the BPO sector, there are different options on what type of structure to register for their business. TYPES OF CORPORATION TO REGISTER FOR A BPO BUSINESS BPO TYPE: BRANCH OFFICE OF A FOREIGN CORPORATION – carries out the business activities of the…

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CALAMITY FUND IN THE PHILIPPINES

In May 07, 2010, then President Gloria Macapagal-Arroyo signed in to law Republic Act (RA) 10121 or the “Philippine Disaster Risk Reduction and Management Act of 2010”.  In a nut shell, this law’s aim is to have a framework for the mitigation of risks, programs for quick responses during the time of disasters and recovery thereafter. An important aspect of the Disaster Risk Reduction and Management Plan is its implementation which is only possible if there ample is ample funding. Hence, RA 10121 have provisions for a Local Disaster Risk Reduction and…

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LABOR LAW UPDATES: SERVICE CHARGE LAW

On August 07, 2019 President Rodrigo Duterte has approved Republic Act 11360 entitled “AN ACT PROVIDING THAT SERVICE CHARGES COLLECTED BY HOTELS, RESTAURANTS AND OTHER SIMILAR ESTABLISHMENTS BE DISTRIBUTED IN FULL TO ALL COVERED EMPLOYEES AMENDING FOR THE PURPOSE PRESIDENTIAL DECREE NO. 442 AS AMENDED, OTHERWISE KNOWN AS THE “LABOR CODE OF THE PHILIPPINES” or as just the Service Charge Law. Previously, service charges collected by restaurants, hotels, and other similar establishments shall be distributed at the rate of eighty-five percent (85%) for all covered employees and fifteen percent (15%) for management.…

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FOREIGN INVESTMENT NEGATIVE LIST

On 29 October 2018 President Rodrigo Duterte issued the 11th Foreign Investment Negative List. The said Foreign Investment Negative List took effect on 16 November 2018. As with the previous List, the current one outlines, clarifies the scope and limitations of foreign ownership in businesses in specific industries. The intent of the 11th Foreign Investment Negative List is to ease restrictions on foreign participation in certain investment areas or activities. This can be seen in the easing of restrictions of foreign ownership in many sectors or industries, which now can be owned…

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