(CPANENEM ScxOO OFTHE PRIUPPNES REGULATORY FRAMEWORK FOR BUSINESS TRANSACTIONS ‘COVERAGE: Special Laws Dire Read ad stuf te flowing cones. TT Seruiles Regulation Code (RA. No. 8799) ‘Implementing gency of Searles Regulation Code ~The law shall bs implemented by Sees and Exchange | Coranisin whic is oii ody comport of Chakperson ad four 4 Commissioners. iL Powers and Fonction of Securities and Euchange Comision spe e 10. u. 2 2. Hive juried prvin oer al creas, rnp wos who wee (pecs of pny Eason ees pra tn bye Gv. ‘Formulate policies and recommendations oo issues coaceming the securities market, advise Clas ncn goverment gest onal pet of On secs mkt and opie legislation snd amendments thereto; - opove, re sopind, fowls of rete enenent © moh, ene, ad ‘egertan nice ples Feu inves pve eaves of peas a ease ces () Spe, Schr spender le ort ces of excangs tag pms tof oe SROX impeach lan fv ae eulaon sb re ab ued pont ert, Fc, prove, amend a epi repos neds, andi is sd provide ue onan perv comple wich euaon Eiken pp of sno coped ny andl enema gmc of Since i relay 2 wel nj pb iit aps fm, ain 6 prvontts plement powen sn incon mers CO [Scene anne oo eve Ed or ey th esig Pe: Ph te cnt of te Common, bot ect an de emda with te rat ovis fd pnt pred bye ue of Cou raptor ap eee crane mong of bolo tenon rotund pera ie spon css eum sron wins wo ape Say pstgs of ‘St in pete ee rere enna, tach nd euro omens, Soee ia ne rte toto books of cous of ty ey ps ke Peep cyt sony re oper pine ces ne rowan oe es Beare utr rope nt and ering Sz oc etn of maton of enn, prsi meer opon a fie ed prada SEES ecPer pone tnt vty leno wel as ow wp eay be pod foc raha nm ca e aig ot of ir Foe ae ch remain chet jects ad pays ft va | durisdicton of Securities and Exchange Coumisin to Inra-Corporate Disputes ‘Tae Commision’ juris overall cases eruberate under Section Sof Presidential Decree [No Sor is hrcy ouasfeed fo te Court of general jurisdiction ore appropri Regions [Tia Chur Provide, tat the Supe Cour in she execs of ts author may designate the epics! Trial Coun benches tat sall exerci Jurisdiction over these cases aka Special i "The Market and Socorites Regulation Depera™ment develops te registration extra for all ‘halet prijs and serves them fo enue compliance wih regisrasio requirements and {adores Infucora of bx Cole aad res and repuatins to te Enftremeat and Investor ‘rotacion Depareat It regies equity secures and debt instrament o¢ recommends thir ‘rempion om reiaradon, bere ibe) ace sol, ffeed forsale, o dsibatd fo the pubic and ‘aoe hat a taney aod accrate informa is avaiable about he sa secures ‘The Corporate Govermanes and Finance Department registers atl fins, inebbing ‘achangeraded funds, remberdhip cress, hb stare, bah proprietary and non ropa, ‘Si tne shu before thoy ae offered fo sal sod to the publ and ensures tha intoseation is avadable about oe ss eerie. I als ensures that avers have acces tp ll ual Goconwes reading he said ofenag and the secures of pubic companies. ‘cparoeat ao mottos compact by te sboe suers withthe Code ad rules nd regions ‘doped eeander nd carpianc of Bancing lending compass and foundations wit existing Iw, les and regulations and endoreinfactions teeot to te Enforcement end Investor Proeclon Depertest. t moniter covered eorpauies’ compliance wih the Revised Code of CCororte Governance en oer corporate gover sumets ofthe Commissicn. ‘The Compeoy Regatration and Monitoring Department regisiers domeste cosportons arate and asocttions indlg repevetiaive oes and foreign corpeaons tending {odo buss in the Pailppines. It also supers and monitors such ents clave to et ‘compliance wth rls and egos edinisered bythe mmission, ‘The Enforcement and Tavestor Protection Department ensures compiiase ty all aket ‘Brtcipuns, aves and inchoals, and takes sppropae efoeerent sion aga them fer Joga inaction ofthe Code and ober eleva avs, ules aod reunions edmiisered by the Comission, TS DOAN Reqlctory Fromework for Busiuss Tansactons RFBT 8608 rage 1 of 241% Requirement for Regstaton of Secures rir fo Dispos in Pub sles such eas a lrg wit ie Sevres ed Exchange Comeison. as i No fermion reling oan fring of veces tal be serine nls resin semen ‘ee id wh the Secsitis mad Exch Conension and te writen commaiatin proposed B& relesed conan te requod information wader SRC. rules, ‘i. No person sal of, sll ore eto commodity futures contacts ence n ecrdance with te tepuliins ab drs the SE ry pre athe plc ntrest. The SEC eal proms res and ‘eyulitensfvelving commodity finges const 10 prot invests fo eeu che development of ‘rand nspazet commodities market. Ih Requirements for Registration of Securities 1, All sours regu to be repitered user Subsection 6, ball be eistered tough the fing ‘by he sue the main oes fhe Commis, of x swo regisraion statist withthe reipet wo such seerte in sich form ad containing such ivomaton sod documest a tht CCompuson pst: Th retain susenca sal icine any prospects requ 2, The nfirmion eqre for he egitraton of ary kind, nal cars, sl incl, amon hers, he fet of he sues sue or ownership oo th mix of ownership, especial foe {nd oa omer. 3. Thevegitation surement shal be sgned by the suer’s executive oer, pricipal operting er is principal enc ofe,us eoxpuel, is pnp acouaig ofr, 8 conporate Secretary, oe prious perfolag smle futons secompacie ty a duly verified oboe of ‘be baud of rex of esr owporuon, The writer cons ofthe expert ed 83 having ‘tied any part ofthe esate stement or any document st in connection therewith shall, tle be fa Where ee eisai aement hae be sly selling shaadi, writen Carin by such sing sarbulas a i the accuracy of any part of te region teen eoaibed ob sch sling treo sl be le. 4. Upon ing of te region stateret, de sue cal py he Commission fe of not more this onesie (110) of ene per etn (18) of te nium age pric a which sch secures ae propasd tbe offered. 5. ‘Within for-fve (48) days ae the dre of Bing ofthe reianion stterec, x by such Iter the» gnator to reeive the eleewcoe data message or elec Reamer. The rm doesnt nla «pron tng tan termediny wis ep lee a mea econ daa Socumest. F. "Computer" refer o ay dence ct appurstas which, by clecwonic, eler-mechariel, or magnetic impulse, or by ger means, is capable of ecivng, record, rasmiting, sing, procesing eteving, or producing formation, 2 Sst. oat: modes of writen expen wig teil andi eo prom, ‘mp coe or more ofthese anton. (©. "Blectronie Data Message refers to infomation generated et, recived or stored by eletoni, opie r similar Information and Communications Sysieu* refs ta system intended for and capable of geoering, senting, reiving, storing, ur otherwise processing eerie data messages 0 eletsie dovuris ad iacuce the compete ‘sym rote Sinan device ty on which ai ecardeé 6 stored tnd any procedures Yet tothe tecordog of orage of seston dat message o eee ons dosanert, 1. “Bicone Sigoature refers o any distinctive mae, charter andloc sound in electronic fom, representing he ‘ety of pron and amached 9 or lial asteined wit he electonc ata mescge cect doen ot any methodlogs or procedures employed or sdopes by 2 person and execied of adoped by such pence wih ie lnterion ofauthesiexng or approving na electors daa mesiege er eecwonisdocoment 4. "Blctronis Document” refs to intormation oF ths roresenstion oF ifureaton, data, figures, symbols or ther soles of writen exession, descited or hoveverrepresenied, by whch a right is evablshed or an ells tinged, cy wich fact may be prove and aired, which if recive, recoded, enamel, sre, proceed, rived ot proce eleczonic'. ‘Bletroie Key" refers to a secret code whith scares and defends seaskive infomation tit eras over public haanel it form decpheable on wat a avtshing sector key 1 "Imermediar.” refers oa pason wi in tal f miher paren md with resect to a pricula elecrenie document ‘sods reccve anns rs proves other survice nese of hat elec dt csnaeo elecenleSocemeat, M. “Originator” riers «perc by whom, or on whose bale electronic document prprts fo have Ben crested, sete malar sex. The tem, dows mo ince person acing a¢ an intermediary wit repped to Hat elects ecu "Service prs refersto a prone of Ons services aoe aso he epteto of felis Geet ivan ets orag te wansmision, ‘ey a posits of eoanes wes (or online comiee‘ons ial ar ekerwise. between cr amoog polis specied n'a use. i eleszoredbotsets of he wes choosing, ot 1b The recesses iecmea! mean hy wien eleevene dearrate ce risinutr ray 9 tore and made scessible lo designates or undeserved eee par Such sevice prod tall ave oy authaey tm wed oltre content ofthe electronic dat message or elesroni sumer reseed oto make any ety thine behalf of te origi, asin ofan hid pty nies specifiy auorzed od 3, an who sal ela fe elec Tone ecient in acordance Wits the peeBe regen oris nessa the purpve promi th servis hs engaged for, ‘Foxmation of Validity of Etstonic Contracts (2 cept us otese aren by the pain an fe, the seeptncs ofan ofl and such ether leents requed under ‘sting lave forthe rman of cai nay be extesed 1, dconsrated an yrcved by ments of electronic dase mesg or leeks dora ud no net shel be dered val refercestty a0 esl ground a ts inthe form ofa locwoni da messize or elecnicdecunrat, of chat ayo alo he lens rue’ under exiting ls for the formation of contacts 1s expressed, demourate and poved by reine of elecvoue daa raetages or eletele ocunents (2) Bloewnie essactons made iro networks among tens, o inkegt thereof wth oe etes or networks, end ce vena, dail be dearnd consumed upon ie artal dapening of cast or the abit of oe ccount and the _oesponding credit 1 soetber. whet such Hensactin is nied bythe depester ot by ah astored colleting pry Provided dat te obliatio of ne bn en, rps snarl shane t another asng terete shal be cons eed ‘ool nd hal oo beseech proceso pete of rd ectopic Docoment - As between the originale end headdress of an lectronic cia message or evetrewie suet, de'ation of wil ater aren: sal net be eid lea effet, validy oe enforceability solely o the round tats inh Sm fen lca St espe CRA. Segulaory Fromenerk for Busnes Tawacions REBT 8606 Page 22 of 24VL, Bae fing Bsn nd Aiea orca! Serie every Ao 288 RAN 18 ‘A. olor ine baby et a eh eS omen epi, cushy, Poe angen tobe san peppy roll ca otesie ples canteccca toon bese et ferences td epee go ctn nb prc Tonr sep oe Se sal ae Sci sn ns anoy ep ofr caplet sprewae tas pom ‘open gn wih gmt fm i panic wes elspa ropa Ss nid ened pa land ap nd pee Sobol steep ' | 2 Goes Lan A el rn pt gw pt aie teak ear tat per ew ante en ne er C. Definition of Terms F 2ST ww pt grt ma prema tg pe Besar seine ne rer {Sitch iy Le ace an se i nme ew ned ‘PATS rne LOO dar ce mo Secrets ne “Minced aceon ty tpi ae ‘pert or continue to operate basins, sacha, bute Hates to, collin or pepation of «numberof documeat, submission to etiona and leal goverment autores, approval of appicton submited, and receipt of formal erate or ceriees, permit, licenses which inside primary and scotia, clewaces and such simfar authorization of decaeas wich suf eighty to oper orctinue open ts egies “Compl ransacions—applzaos or eqnse sted by epics o eesti pares of goverment ocr which estate evalu nthe recon of engl ies By an oer ct enplye fo govemme ofe, {heh wanton oe Gelamed by oe concerns 1 Se) Fuer—any india whether ht ony ove the opera of govennent feo agency wo Bas ‘zs peopl working heres an weer or nor ncn wih te ite spat complain ef arco er ecm gu or any oer aso or eon, AD Government service te recess or euscinn Deora apa rung pars and vemos or gence invaving aplication fer ey privlege ri, rena, ces, cleus, pera or aura, concen, ot ‘sy modifiestion, renewal or extension of the enumerated applications or requests which ere acted ypoa in the ordinary ourseofbuness ofthe ager oe encered t “Highly technical splleson an appton which eqs be te of etic! Knowles, speialand ils anor trning nthe pocening enor vation erat ‘) Noabsinstransctons— aleergoverre! aston 0 ling ude Secon (of i Ac, “0 Ortcer or employee pertenexleyes tet goverment ofc regency resale 1 perfor serie ae and ‘ponies elaad ote applets otegent subd mopar regesg party br proces, “O)Proveay ine—te tte comuned by ao LOU er anoalgoveranen ageny(NOA) Soe the ee of a2 spplaibe or rics wih comple requirements, sxanoamng dcamens and payment of fo 10 te ome of {Stifestion or ext sini doamecs apoving Sprig an pplstonoreqere ; “0H Red tpe—an elon ror mina pocde ose has net o devin in aking ts inde abv ind wa el, pode ow, pine and wees stl uses ‘AD Reglaoo az) epu sbunca' gives effet oa goverunet oly iteration ed lads lensing imposing internation eigaton,emplance to sana or payen of any frm of fe, Tey huge or ay oer story ad replatry egureens nse oc ot and "Simple transneons—appi:sos or equi suited by epplicator equting prs of overanest office or agency whch only regae tinier ations oo the prt ofthe pubic ofer oe empane,o htc peso oly ‘Seontequental us rh sole by an oer er rpc of i pverament oes.” ‘Aste Tape Autborky ~ It ef te he goverment en th s taint Oe of he Present nd th is ‘nmcted stat the aalamest ofthis lav Te folowing are the factions of the ld Authority: i Inpeest nd oversee nna plicy o ano tape ad ere fon bosnt, Implement wero ex of doing unos end saled perfor tas ened a ingrovig the raking of Pulppaes. ‘Montor td eval the compliance of agence covered ender Section 3 ofthis Ac, and sue oto Waring to tndlocnaconping goverment empleo ob, { 44 Tbk lnergaten now polo cr pn ent os compe fer he ae tthe spp agency, css fr Malton of is Ae Ress compliant in Sling neces cats with h CSC, th Ombuds an tr aproprite cour, case my te: oroy . Recommend policies, processes and sytem to improve requir) management increase the producti, efcency, and ceetveness of basinesspermiting and licensing agencies, Review propoced jor reglations of governent agencies, sing submited regulatory impact assesment, subject to proprtiseality als 1 be determined bythe Authors L ondoerregltory management taining progans to capacie NGAS aad LGUs to comply with sound regulatory Prep, ion with the appropriate agencies, rgultry management manuals forall government agencies andlor laren and LGUs; Provide tecnica asistnce and advisory opinions in the review of proposed aston or local legion, regltons or 1k Ennire te disemioatin of end public aces to faformaton on rguliory manageeat este andlchanges ia laws and ‘regulations relevant the public by exashng te Palippne Business Reglaions Information 5st ree pr (CRAR- Regulatory Framework for Busters Tensacons RFBT B06 [Page 23 0f 24Enlist the asiance ofthe CSC, DTI and oer goverment agencies inthe implemestation ofits powers and functions rovided for in his Act and ‘8. Perform such acts as may be necessary to ain the objectives of his At E. Caen’ Charter ~ All goverment agencies iachading departnens, Drees, ofces,instumenaites, or government- ‘owned under convoled corpoatios of local LGUs shall setup heir spective most current an upsied service sandards {0 be known a he Citizens Chae in he form of information blbords which shall be posed at be ain entrance of fies oa the mos conspicuous place, is teu respective websites and inthe form of published materi write ee ia English Flip. or ithe loca ied tht etal Acomprebenive and unifr checks of equator each typeof piston request ‘The procedure oobi apatcls servi, ‘Tee peson sresponsibe foreach step, ‘The maximus ine to conclde he process, ‘Tae document to be presented ty the eppian requesting par ifneeesey: ‘The amour of fees, i ecessay nd 1 The procedure fring complains” F. Zero-Contact Policy Except ivng the prlininy assent ofthe request and evaluation of sufiency of ubmited roguement no goverment officer or employce sal hve my contact any tae, unless sic ecesay with any requesting pct corcerning an application o request One te Departent of lfcrmation wad Conurticaton Tecnology (DICT) nas completed web-based sofware enabled bese regiation syste that acceptable to the public mandated. by Section 26 ofthis Ack all wassacons stall be coursed trough sch system. A overnmeat agencies icding LGUs ‘all adopt a nr-enises poly. G. Ceatral Busses Portal - (CBP}—To eliniute bureaucratic ted tps, avert aft and comp practices and w promote transparency sa sustain caso of doing buszess be DICT shall be primary responsible in estblishing,epeating and mustang a CBP or othe sma eholog, as he DICT nay preeibe. The Central Business Portal (CBP) seal ere 15 2 cental system to recive aplications and caprre application dam involving business-ened wanseions, inluding ‘rimary und secondary lenses, ac business clearencs, permis, eeifcatons or auorizatons issued by the LOUS: Provide, Tht CHP may alo provide las othe ole repisratio or application ssters established by NGAB HL Streamlined Procedures for Securiag Fre Safety 2valuaton Clearance (FSDC), Fire Safety Inspection Certifeate (FSIC), nd Certification of Fire Tcidents for Fire tasurance- 12 Isuane of FSEC and PSIC salon case lange than seven (7) working days 1. Fornew busines pernit sppleatian the FSIC edly sued dur the cceupaney pent stage shall be suficieat ‘as basis forthe sstance of te FSIC fora basness ety as a reuiement forthe business pels Forresewal of tuinse pena the BFP stall, wii iee (3) working days Som appcation sen the FSIC 0 ‘he ciymuiipalic, itor the the copy of te FSIC othe epuivs pie List Provided, That be busines eaty ‘hall form the BFP tad wba he necessary documentary regrets renovaons, editions oF ay orm of akerons wre made wo tbe original bldg sowcure tty (30) working days before the expintion ofthe basics pei Ife BFP fit finish the chymaniipliy with an FSIC ot infor th sume through he nepatverpostve st Within vee working dye (3) dap om tee application of busines enews, he business entity shall be dcmed to tavea temporary valid FSIC and herefere, sl serra he ate forte utrato renewal ote bases permit sume ofthe Sericon of fie Iie for Sr surance puposes shall inno case be longer than twenty (20) erking dys, nd maybe sended oly coe for ancter nent (20) working days; 1. Intereonnectivity Infrastructure Development. — In order 1 expe the processing of licenses, lesrances, permis, ‘erifetion or authorizations, the Auhort,togedr withthe DICT shall develop a fast snd reliable ineconaetvity Infact. In relton to thi, be protesting abd appioval of tienes, cleranes, pei, cristo or autorizatons forthe lastalsion od operon of eecoumunicaton, breadast ioe, facies, equipment and sevice sal be: 1 otal osevee (7) working days or thse sued by the barangay, 1. total of seven (1) meng day for hue ated by LGUs and total of seven (1) working days for those issued by NGA a ‘If de grating anborty fs to approve or disapprove an appli for acess clearance, pert, cetiiation suchrization win the prescribed procesing tie, sad pplication stall be deemed approved: Provided, That when the approval of te appropriate loa legislate body necessary, © nonextendible period of twenty 20) working days i Inrebyprescrbed “For homeowners and oer community claret, the offers of the lieownt'satocistion shall te given ten (10) working days to refrain 1 Se meer Ofte areca prac Sein 10) of RepuiieAet No. 9904 ibervise known as the “Magan Cara fo Homeowars ad Hozneowne:s Associations" Provided, Tat a nonextendible period of thirty (30) working days i grated te Somecurcrsasiacaton to glve Mi conser er asapprcval:Prvied, father, That incase of lsaperoval the ang autbariy shal moi the applica requesting party within the preseibed eto ofthe reason’ fo dsappval aswel remade measres tht may be ken by Ue applicant or requesting par. (CAR Regulatory Framework for Business Tansacrons RFT 6608