No intermediary may accept an investment commitment in a transaction involving the offer or sale of securities in reliance on the Crowdfunding Rules until the investor has opened an account with the intermediary and the intermediary has obtained from the investor consent to electronic delivery of materials.
Continue readingA crowdfunding intermediary is the entity that mediates offer and sale of crowdfunding securities through its online electronic platform. A crowdfunding intermediary may be a: (a) registered broker; (b) investment house; or (c) funding portal. Continue reading below for the list of permitted activities for crowdfunding intermediaries.
Continue readingThe crowdfunding intermediary must be duly registered as: (i) a broker, pursuant to the requirements of Section 28 of the SRC; or (ii) an investment house under the Investment Houses Law and its Implementing Rules and Regulations; or (iii) a funding portal, subject to the requirements of Crowdfunding Rules. [See Registration of funding portals]
Continue readingAll stockholders of a stock corporation shall enjoy preemptive right to subscribe to all issues or disposition of shares of any class, in proportion to their respective shareholdings. This is also called the “right of first refusal”.
Continue readingA holographic will is one which is entirely written, dated, and signed by the hand of the testator himself/herself. The only requirements for the validity, and probate, of a holographic will are those contained in Article 810 of the Civil Code, which reads in full: “A person may execute a holographic will which must be entirely written, dated, and signed by the hand of the testator himself. It is subject to no other form, and may be made in or out of the Philippines, and need not be witnessed.”
Continue reading[On 15 November 2019, Malacanang issued Proclamation No. 845, declaring the regular holidays and special non-working days for 2020. Here is the full text of Proclamation No. 845.]
DECLARING THE REGULAR HOLIDAY AND SPECIAL (NON-WORKING) DAYS FOR THE YEAR 2020
WHEREAS, Republic Act (RA) No. 9492 dated 24 July 2007, amended Section 26, Chapter 7, Book I of Executive Order (EO) No. 292, also known as the Administrative Code of 1987, by declaring certain days (specific or movable) as special or regular holidays;
Continue reading[In a Resolution dated 17 September 2019 (A.M. No. 19-08-14-SC), the Supreme Court approved The Rules of Procedure for Admiralty. The full text is reproduced below.]
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