Tag Archives: Philippines

Grounds for Annulment of Marriage in the Philippines

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Annulment and declaration of nullity are used interchangeably by lay persons, but these two concepts are different. Annulment refers to a marriage that is valid until annulled by a court, while declaration of nullity refers to a marriage which is void from the very beginning. There are separate grounds for annulment of marriage (enumerated below), declaration of nullity of marriage, and legal separation.

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Primer on the Rule on Administrative Search and Inspection under the Philippine Competition Act

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The Philippine Competition Commission (PCC), created under Republic Act No. 10667 (Philippine Competition Act), has the power undertake inspections to prevent the removal, concealment, tampering with, or destruction of books, records, or other documents. The inspection order, which must be issued by the proper court, is covered by the Rule on Administrative Search and Inspection under the Philippine Competition Act (“Rule”) issued by the Supreme Court (A.M. No. 19-08-06-SC). Here is a summary/primer of the Rule. 

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Requirements for Crowdfunding Transactions

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Crowdfunding transactions, in order to be legally exempt from the general requirements of securities registration, must be only done through a crowdfunding platform. An intermediary controls this platform, which is why the intermediary has a number of duties, including the institution of measures to reduce the risk of fraud, as well as the following:

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Crowdfunding: Completion of Offerings, Cancellations, and Reconfirmations

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An issuer who wishes to list its securities in the crowdfunding platform must submit disclosures, including an Offering Statement, which must indicate the target offering amount and the deadline to reach the target offering amount. The target amount must be reached on or before the deadline; otherwise, no securities will be sold in the offering and investment commitments will be cancelled and committed funds will be returned.

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