Category Archives: Corporate & Investments

Grace Period for Loans Already in Effect: Implementing Rules and Regulations Issued by DOF

9 Replies | Related posts at the end of article

The grant of grace period for all loans, which is part of the emergency powers granted by Congress to the President, is now set for implementation. On 1 April 2020, the Department of Finance (DOF) issued the Implementing Rules and Regulations (IRR) of Section 4(aa) of Republic Act No. 11469, Otherwise Known as the “Bayanihan to Heal as One Act”. The salient points of the IRR are as follows: 

Continue reading →

Grace Period for Loans: Implementing Rules and Regulations of Section 4(aa) of the “Bayanihan to Heal as One Act”

1 Reply | Related posts at the end of article

[On 1 April 2020, the Department of Finance (DOF) issued the Implementing Rules and Regulations of Section 4 (aa) of Republic Act No. 11469, otherwise known as the “Bayanihan to Heal as One Act”. Refer to the extended discussion or the latest BSP FAQ. Note the important changes introduced by IATF Resolution No. 33. See updated classifications. Here is the full text of the IRR.]

Continue reading →

“Senior Only” Shopping Hour, Express Lane for Senior Citizens during the Community Quarantine

2 Replies | Related posts at the end of article

Senior citizens are more vulnerable to the Coronavirus Disease 2019 (Covid-19), according to reports, and because of this, some groceries, supermarkets and other retail stores are not allowing senior citizens to enter and shop. This is addressed in a new circular issued by the Bureau of Trade and Industry (DTI). Memorandum Circular No. 20-09 (full text) enjoins all supermarkets, groceries, pharmacies and drug stores and other businesses to implement the following:

Continue reading →

Pagpapahalaga sa mga Senior Citizens: DTI Memorandum Circular No. 20-09 (Full Text)

Leave a reply | Related posts at the end of article

[On 28 March 2020, the Department of Trade and Industry (DTI) issued Memorandum Circular No. 20-09, providing for exemption from lines or queues, a “Senior Only” shopping hour, and “Pagpapahalaga” Express Lane, in all supermarkets, groceries, pharmacies and drug stores, and other businesses authorized to continue business operations during the enhanced community quarantine. Here is the full text of MC 20-09.]

Continue reading →

Minimum Paid-Up Capital for Corporations in the Philippines

Leave a reply | Related posts at the end of article

No minimum capital stock is required for stock corporations under the Revised Corporation Code, except when specifically provided by law. The Securities and Exchange Commission (SEC) has a matrix (accessed on 29 March 2020) of the required minimum paid-up capital (paid-up capital is the portion of the authorized capital stock which has been subscribed and actually paid),  according to industry, for the registration of Philippine corporations. This covers foreign-owned domestic corporations, when not covered by the Negative List.

Continue reading →

Suspension of Rents and Loan Payments During the Covid-19 Lockdown

9 Replies | Related posts at the end of article

To help address the national crisis brought about by the Coronavirus Disease 2019 (COVID-19), Congress granted temporary emergency powers to the President, through the “Bayanihan to Heal As One Act” (Republic Act No. 11469). This law already took effect but not self-executory, which is why on 28 March 2020, the President, through the Executive Secretary, issued a directive to implement the emergency powers. Among the matters covered by the temporary emergency powers is the suspension of rent and loan payments. 

Continue reading →

Implementing Rules and Regulations of Republic Act No. 9856, otherwise known as the Real Estate Investment Trust (REIT) Act of 2009: Table of Contents, Full Text

Leave a reply | Related posts at the end of article

SEC Memorandum Circular No. 1, series of 2020, containing “The Implementing Rules and Regulations of Republic Act No. 9856, otherwise known as the Real Estate Investment Trust (REIT) Act of 2009, was published at the PDI and Philippine Star, and filed with the UP Law Center, on 23 January 2020. The REIT Rules took effect on 7 February 2020. See Introduction / Salient Points. The full text is available by clicking the link to each item of the Table of Contents:

Continue reading →

Anti-Hoarding, Anti-Panic Buying, and Price Freeze (DTI Memorandum Circular Nos. 20-07 and 20-10)

Leave a reply | Related posts at the end of article

Consumers have resorted to hoarding and panic buying, the Department of Trade and Industry (DTI) observed in its Memorandum Circular No. 20-07 dated 19 March 2020 (Anti-Hoarding and Anti-Panic Buying). The DTI also noted that if this consumer behavior, if allowed to continue, will not only cause more fear and prevent other consumers from purchasing what they need, but they will also cause artificial shortage and cause prices to soar (the DTI issued a Supplemental Anti-Hoarding and Anti-Panic Buying Directive, through Memorandum Circular No. 20-10 dated 31 March 2020, providing for additional vital or essential goods, regardless of brand). The DTI, therefore, decided to issue the Circular for the information and guidance of everyone. Here are the salient points of the Circular.

Continue reading →