This is a glossary for the Revised Corporation Code (Republic Act No. 11232), including definitions provided in related jurisprudence and issuances of the Securities and Exchange Commission (SEC). The relevant summaries/discussions are linked in each glossary item. This is a work in progress.
Continue readingA One Person Corporation is a corporation with a single stockholder, who must be a natural person, trust, or an estate. It must not be confused with a corporation sole. The creation of a One Person Corporation or OPC is provided in Title XIII (Special Corporations) of Republic Act No. 11232, also known as the “Revised Corporation Code”. The guidelines, as provided in SEC Memorandum Circular No. 7, series of 2019, are discussed below.
Continue readingThere are a number of articles in this Forum discussing the legal reality that a marriage, no matter how may years the spouses are apart or separated, remains valid under the laws of the Philippines. The questions, however, keep pouring in. After how many years of separation is a marriage annulled? If married but separated for 10 years, is the marriage void? Does the marriage become invalid after 7 years of separation? Can I remarry if my husband abandoned us?
Continue readingThe Enhanced Community Quarantine (ECQ) has been extended until 15 May 2020 (see update under Executive Order No. 112 issued on 30 April 2020). The ECQ was previously scheduled to last only until 30 April 2020. Based on the recommendations of the Inter-Agency Task Force for Emerging Infectious Diseases (IATF), there will be a further evaluation if the ECQ can be relaxed starting 16 May 2020. [Update: Quarantine classifications from 1 to 15 June 2020]
Continue readingThe Coronavirus Disease 2019 (COVID-19) crisis obviously has grave impact on the whole world, the Philippines included. As far as the subject matter of this site, the COVID-19 has interesting implications on the least unlikely segment of Philippine laws — funerals.
Continue readingPart of the regulatory framework governing mergers and acquisitions in the Philippines is the review, when specific thresholds are met, by the Philippine Competition Commission (“Commission”), pursuant to Republic Act No. 10667, also known as the “Philippine Competition Act“. The details are provided in the Implementing Rules and Regulations (IRR).
Continue readingThe constitutional provisions on Martial Law — as contained in Section 18, Article VII of the Constitution — is intended to provide additional safeguard against possible abuse by the President in the exercise of his power to declare martial law or suspend the privilege of the writ of habeas corpus. Section 18 contains six paragraphs, and reads in full:
Continue readingTwo prohibited acts are provided in Republic Act No. 10667, also known as the “Philippine Competition Act” and its Implementing Rules and Regulations (IRR), to wit: (a) Anti-Competitive Agreements; and (b) Abuse of Dominant Position. The basic difference is that anti-competitive agreements can only be committed by at least two entities. This article discusses the first prohibited act — anti-competitive agreements.
Continue readingThere are two prohibited acts under Republic Act No. 10667, also known as the “Philippine Competition Act“, to wit: (a) Anti-Competitive Agreements; and (b) Abuse of Dominant Position. The basic difference is that anti-competitive agreements can only be committed by at least two entities. This article discusses the second prohibited act — abuse of dominant position, basically involving predatory pricing and non-price predation. The headings are added for convenience.
Continue readingThe President has issued a directive for the issuance of guidelines on the interruption of periods for the filing of documents, payment of taxes and other fees, and cancellation of proceedings by reason of the community quarantine. Note that a “community quarantine” may refer to a general community quarantine or an enhanced community quarantine.
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