Solon wants to amend the Corporation Code of the Philippines

Electronic mail or e-mail may soon be allowed as a mode of written notice once a
bill filed in the House of Representatives is enacted into law.
Under House Bill 460! authored by "eputy #pea$er %ior&idi '&&abao (4
th
"istrict!
)sabela*! electronic mail or e-mail shall be considered a written notice under the measure
provided that it shall constitute a valid mode of notice of meetin&s to stoc$holders!
members! board of directors and trustees of the corporation.
+he bill see$s to amend #ection ,0 and ,- of Batas Pambansa Bilang 6.! otherwise
$nown as the /0orporation 0ode of the 1hilippines!2 enacted more than three decades
a&o.
/+his is in $eepin& with the modern-day business transactions! &iven the rapid
chan&e and fast-paced evolution of electronic and di&ital technolo&y where at the clic$ of
a button! anythin& and everythin& can be accomplished!2 '&&abao said.
'&&abao said the amendments will also be consistent with the relevant provisions
of Republic 'ct 3o. .45 or the Electronic 0ommerce 'ct of 00 which e6pressly
reco&ni7es an electronic document as havin& the same le&al effect! validity and
enforceability as a written document or le&al writin&.
'ccordin& to the House leader! e-mails as defined under Republic 'ct 3o. .45! are
considered as modes of a written e6pression transmitted electronically.
'&&abao pointed out that while the #ecurities and E6chan&e 0ommission (#E0*
has recently issued an opinion reco&ni7in& the validity of e-mail as a mode of sendin&
notices of meetin&s! it is important to amend the relevant provisions of the 0orporation
0ode to settle this matter once and for all! leavin& no doubt as to its interpretation and
application. (-0* lvc
NR # 3539
JULY 26, 2014

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