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Regulatory Framework and Legal Issues in Business

The document outlines the regulatory framework and legal issues in business, covering various laws including Financial Rehabilitation and Insolvency, Labor Law, Social Security Law, Securities Regulations, Corporate Governance, Foreign Investments, Competition Act, Consumer Protection, Banking Laws, Government Procurement Law, and the Ease of Doing Business Act. Each section details definitions, procedures, rights, and obligations relevant to businesses operating within these legal frameworks. This comprehensive overview serves as a guide for understanding the legal landscape affecting business operations.

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Mikaela Dianne Aquino
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246 views4 pages

Regulatory Framework and Legal Issues in Business

The document outlines the regulatory framework and legal issues in business, covering various laws including Financial Rehabilitation and Insolvency, Labor Law, Social Security Law, Securities Regulations, Corporate Governance, Foreign Investments, Competition Act, Consumer Protection, Banking Laws, Government Procurement Law, and the Ease of Doing Business Act. Each section details definitions, procedures, rights, and obligations relevant to businesses operating within these legal frameworks. This comprehensive overview serves as a guide for understanding the legal landscape affecting business operations.

Uploaded by

Mikaela Dianne Aquino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 4

REGULATORY FRAMEWORK AND LEGAL ISSUES IN BUSINESS

1. Financial Rehabilitation and Insolvency (“FRIA”)


i. Definition of Terms
ii. Suspension of payments
iii. Rehabilitation
iv. Types
v. Commencement order
vi. Stay or suspension order
vii. Rehabilitation receiver
viii. Management committee
ix. Rehabilitation plan
x. Cram down effect
xi. Liquidation
xii. Types
xiii. Conversion of rehabilitation to liquidation proceedings
xiv. Liquidation order
xv. Rights of secured creditors
xvi. Liquidator
xvii. Determination of claims
xviii. Liquidation of Plan

2. Labor Law
i. Labor Standards
ii. Basic pay
iii. Overtime premium
iv. Night shift differential
v. Holiday premium
vi. 13th month pay
vii. Leaves
viii. Service incentive leave
ix. Maternity leave
x. Paternity leave
xi. Parental leave for solo parent

3. Social Security Law


i. Definitions
ii. Scope and Coverage
iii. Pension, Retirement, and other benefits
iv. Exemptions from tax, legal process, and lien
v. Employee’s and employer’s contributions
vi. Contributions from self-employed member
vii. Remittance of contributions
viii. Method of collection and payment
ix. Employment records and reports
x. Penal Clauses

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4. Securities Regulations Code (Republic Act No. 8799)
i. Securities Regulations
ii. Powers and Functions of the SEC
iii. Securities that are Required to be Registered
iv. Securities that are Required to be Registered
v. Exempt Securities
vi. Exempt Transactions
vii. Procedure for Registration of Securities
viii. Prohibition on Fraud, Manipulation and Insider Trading
ix. Fraudulent Transactions
x. Protection of Investors
xi. Civil Liabilities
xii. Settlements, Prescriptive Period and Damages

5. Codes of Corporate Governance


i. Code of Corporate Governance for Publicly Listed Companies
ii. Code of Corporate Governance for Public Companies and Registered
Issuers

6. Foreign Investments Act (Republic Act Nos. 7042, 8179 and 11647)
i. Philippine National
ii. Doing Business
iii. Registration of Investments of Non-Philippine National
iv. Foreign Investments in Export Enterprises
v. Foreign Investments in Domestic Market Enterprise

7. Philippine Competition Act


i. Definition and scope of application
ii. Prohibited acts
iii. Anti-competitive agreements
iv. Abuse of dominant position
v. Prohibited mergers and acquisitions
vi. Exceptions
vii. Covered transactions
viii. Thresholds for compulsory notification
ix. Notifying entity
x. Period of notifications
xi. Exceptions

8. Consumer Protection
i. Consumer Product Quality and Safety
ii. Deceptive Sales Acts and Practices
iii. Product Service and Warranty
iv. Labelling and Packaging
v. Consumer Rights
a. Price Tag Act

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b. Lemon Law

9. Banking Laws
i. General Banking Law (Republic Act No. 8791)
a. Classification of Banks
b. Quasi-Banks and Trust Entities
c. Bank’s Powers and Liabilities
d. Nature of Bank Funds and Deposits
e. Organization, Administration, and Management
f. Grant of Loans and Security Requirements

ii. The New Central Bank Act (Republic Act No. 7653)
a. Primary Objective and Other Responsibilities of the BSP
b. Monetary Board
c. When Banks are in Distressed
d. Conservatorship
e. Closure
f. Receivership
g. Liquidation
h. Procedure in Liquidation
i. Legal Tender Power (read BSP Circular 1162 series of 2022)
j. Rate of Foreign Exchange
k. Purchases and Sales of Foreign Currency
l. Acquisition of Inconvertible Currencies
m. Reserve Requirements
iii. Unclaimed Balances Law (Presidential Decree No. 679)
a. Requirement to Report
b. Procedure for Escheat
c. Reaction of Account

10. Government Procurement Law


i. General principles
ii. Scope and application
iii. Definition of terms
iv. Procurement procedures
1. Preparation of bidding documents
2. Invitation to bid
3. Receipt and opening of bids
4. Bid evaluation
5. Post-qualification
6. Award, implementation, and termination of the contract
iii. Disclosure of relations
iv. Alternative methods of procurement

11. Ease of Doing Business and Efficient Delivery of Government Service Delivery
Act
i. Policy, construction, and interpretation

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ii. Definition of terms
iii. Coverage and scope
iv. Reengineering of systems and procedures
v. Citizen’s charter
vi. Accessing government services
vii. Streamlined procedures for the issuances of permits and licenses
viii. Violations, jurisdiction, penalties, and immunity

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