Category Archives: Philippines – Regulations

Notable Regulations Issued August 2011

Here are some notable regulations issued August 2011:

1.  SEC Memorandum Circular No. 5-2011 dated August 4, 2011 – Amending SEC Memorandum Circular No. 5, series of 2008 (Guidelines and Procedures on the Use of Corporate and Partnership Names);

2.   SEC Memorandum Circular No. 6-2011 dated August 15,  2011 – 2012 Schedule of Filing of Annual Financial Statements;

3.  BIR Revenue Regulations No. 15-2011 dated August 26, 2011 – Amendment to Section 5 of Revenue Regulations No. 12-2011;

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Notable Regulations Issued July 2011

Here are some notable regulations issued July 2011:

1.   Office of the President Memorandum Order No. 20 (July 5, 2011) – Approving the 2011 Investment Priorities Plan;

2.   Office of the President Administrative Order No. 17 (July 28, 2011) – Directing the Use of Procurement Service and the Philippine Government Electronic Procurement System in Procurement Activities in Accordance with Republic Act No. 9184, and Improving the Operation of the Procurement Service;

3.   BIR Revenue Regulations No. 10-2011 (July 1, 2011) – Amending Certain Provisions of Regulations No. 16-2005, Otherwise Known as the Consolidated Value-Added Tax Regulations of 2005;

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Notable Regulations Issued June 2011

Here are some notable regulations issued June 2011:

1.     Revenue Regulations No. 02-11 – Amendment to Revenue Regulations No. 3-2011 Providing for the Policies, Guidelines and Procedures on the Application for Change in Accounting Period Under Section 46 of the National Internal Revenue Code;

2.     SEC Memorandum Circular No. 04-2011 – Amendment of SRC Rule 9.2(2)(D);

3.     Executive Order No. 44  – Amending Executive Order No. 571 (s.2006) Renaming the Public-Private Sector Task Force on Philippine Competitiveness Council (NCC) and Expanding Its Membership; and

4.     Executive Order No. 45 – Designating the Department of Justice as the Competition Authority.

Notable Regulations Issued May 2011

Some notable regulations issued during the month of May 2011:

1.     ERC Resolution No. 09 – A Resolution Adopting the Rules Requiring Generation Companies and Distribution Utilities Which are Not Publicly Listed to Offer and Sell to the Public a Portion of Not Less than Fifteen Percent (15%) of their Common Shares of Stock Pursuant to Section 43(t) of Republic Act No. 9136 and Rule 3, Section 4(m) of its Implementing Rules and Regulations (IRR);

2.     DENR Administrative Order No. 2011-06 – Prescribing the Guidelines for the Implementation of Public Land Titling in Partnership with Local Government Units;

3.      SEC Memorandum Circular No. 3 – Guidelines on the Implementation of PFRS 9 (Financial Instruments: Recognition and Measurement); and

4.     COMELEC Resolution No. 9220 – Guidelines for Registration of Persons with Disabilities (PWDs).

Notable Regulations Issued March 2011

Some notable regulations issued during the month of March 2011:

1. BIR Revenue Regulations No 4-2011, which deals with the allocation of costs and expenses among income earnings of banks and other financial institutions for income tax reporting purposes;

2. BIR Regulations No. 5-2011, which amends previous regulations governing “de minimis” benefits;

3. DOLE Department Order No. 112-11, which governs the implementation of the special leave benefits for women employees in the private sector;

4. SC Administrative Matter No. 11-3-6-SC, regarding the amendment of Section 12, Rule 14 of the Rules of Court on Service Upon a Foreign Private Judicial Entity;

5. Civil Service Commission Resolution No. 1100356, which governs access to SALNs of government officials and employees filed with the CSC.

Notable regulations issued February 2011

Here are some notable regulations issued during the month of February 2011:

1.     BIR Revenue Regulations No. 1-2011, which relates to the tax treatment of income earnings and money remittances of an overseas contract worker or overseas Filipino worker;

2.   DOE Department Circular No. DC2011-02-0001, which relates to the mandatory use of bio-fuel blends; and

3.     NTC Memorandum Order No. 2011-01, which relates to internet access through mobile phones.

Legal Buzz: Hubert Webb, Bar Exams

People are talking about:

1.      The Supreme Court’s decision affirming its acquittal of Hubert Webb. [Inquirer, January 19]

This is not really a big surprise, considering the Constitution’s prohibition against double jeopardy, i.e., no accused should be put in jeopardy for punishment of the same offense.

UST Quadricentennial Park Fountain

2.     The rescheduling of the Philippine bar exams to November 2011. [Malaya, January 20]

This is both a blessing a curse to law graduates – one more month to study but one more month of stress.  The exams will be held at UST after years of being held at DLSU.

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