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June 1, 2022

Business Law and Labor Law Updates

The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.


KINDS OF CORPORATE MEETINGS UNDER PHILIPPINE LAW


The Revised Corporation Code, particularly Section 48, provides that there are two kinds of meetings, regular or special.

Regular meetings of Stockholders in case of stock corporations or members in case of non-stock corporations are to be held annually on a date fixed in the bylaws. What if the date for the regular meeting is not fixed in the bylaws? The regular meeting shall be on any date after April 15 of every year as determined by the board. Before the conduct of the regular meeting, a requirement of written notice shall be sent to all stockholders or members of record at least twenty-one (21) days prior to the meeting, unless a different period is required in the bylaws, law, or regulation.

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Preserving the Employment of Workers during the COVID-19 Pandemic


After weeks of closure due to the Enhanced Community Quarantine (ECQ) brought about by the COVID-19 pandemic, some non-essential businesses are now allowed to operate provided they observe the health standards issued by to the Department of Trade and Industry (DTI) and Department of Labor and Employment (DOLE) “Interim Guidelines on Workplace Prevention and Control of COVID-19” dated 30 April 2020. The weeks of closure had resulted to great losses for many businesses. And to assist employers resume their business operations while preserving employment of their workers, the Department of Labor and Employment issued Labor Advisory No. 17 Series of 2020 on 18 May 2020.

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Receipts/Invoices during ECQ


In relation to Proclamation No. 929, s. 2020 imposing the Enhanced Community Quarantine (ECQ) on March 16, 2020 over Luzon and Republic Act No. 11469 otherwise known as “Bayanihan to Heal As One Act”, the Bureau of Internal Revenue issued RMO Circular 41-2020 on 8 April 2020 to clarify the time of application for new Authority to Print (ATP) Receipts/Invoices of taxpayers with expiring principal and supplementary receipts/invoices and to extend the required period such application.

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Hiring Non Resident Aliens


Labor Code provides that any alien seeking admission to the Philippines for employment purposes and any domestic or foreign employer who desires to engage an alien for employment in the Philippines shall obtain an employment permit from the Department of Labor.

The employment permit may be issued to a non-resident alien or to the applicant employer after a determination of the non-availability of a person in the Philippines who is competent, able and willing at the time of application to perform the services for which the alien is desired.

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