Read publication Doing Business in the Philippines guide provides an introduction to selected aspects relating to investment and business operations in the country, particularly foreign investment, incentives, taxation, border control and customs regulations, employment, immigration and industry-specific regulations.
Recent Developments To implement Section 10 of Republic Act No. 11232 or the Revised Corporation Code of the Philippines (Revised Corporation Code),[1] the Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 16 series of 2019 entitled: Guidelines on the Number and Qualifications of Incorporators under the Revised Corporation…
Recent developments On 18 June 2019, the Philippine Competition Commission (PCC) published its Rules on Expedited Merger Review (Expedited Review Rules) which aims to fast-track the review of transactions deemed less likely to result in substantial lessening of competition in the Philippine markets. Under the new rules, the PCC’s review…
Recent Developments On 20 February 2019, Philippine President Rodrigo Duterte signed into law Republic Act (RA) No. 11232 or the Revised Corporation Code of the Philippines (Revised Code). The Revised Code expressly repeals Batas Pambansa Blg. 68 or the Corporation Code of the Philippines, and aims to improve the ease…
Recent Developments On 21 February 2019, the Philippine Competition Commission (PCC) issued Resolution No. 03-2019 (CR 3-19) increasing the thresholds for mandatory notification of M&A transactions (i) from PhP5 billion to PhP5.6 billion for the size of person test, and (ii) from PhP2 billion to PhP2.2 billion for the size…
Recent Developments On 27 December 2018, the Philippine Competition Commission (PCC) issued the Rules of the Leniency Program (Rules). The Rules fully implement the PCC’s Leniency Program as provided under the Philippine Competition Act. The Rules offer persons and entities that are former or current participants in cartels immunity from…
On 10 September 2018, the Philippine Competition Commission (“PCC”) issued its Guidelines on Notification of Joint Ventures (“JV Guidelines”) to aid parties in assessing whether a proposed M&A transaction would be considered a joint venture (“JV”) that is subject to mandatory notification under the Philippine Competition Act (“PCA”), and in…
Following its issuance of the Interim Rules on Preliminary Inquiry and Full Administrative Investigation in August 2017, the Philippine Competition Commission (Commission) has issued its more comprehensive Rules of Procedure.