ALBURO ALBURO AND ASSOCIATES LAW OFFICES ALBURO ALBURO AND ASSOCIATES LAW OFFICES

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June 1, 2022

Legal Developments

 


WHAT IS AN APPRENTICEABLE OCCUPATION UNDER THE LABOR CODE?


  • An apprenticeable occupation means any trade, form of employment, or occupation which requires more than three (3) months of practical training on the job supplemented by related theoretical instructions.

  • It may likewise refer to an occupation officially endorsed by a tripartite body and approved for apprenticeship by the TESDA.

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WHAT ARE TREASURY SHARES?


  • Treasury shares are shares of stock which have been issued and fully paid for, but subsequently reacquired by the issuing corporation by purchase, redemption, donation or through some other lawful means. Such shares may again be disposed of for a reasonable price fixed by the board of directors.

  • Treasury shares are considered as issued and fully paid. It cannot be considered as outstanding shares since they are subsequently reacquired and held by the corporation.

  • Treasury shares are not entitled to dividends or voting rights until they are reissued. A corporation cannot declare dividends for itself.

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WHEN IS TENDER OFFER IN SECURITIES MANDATORY?


  • Tender offer refers to a publicly announced intention by a person acting alone or in concert with other persons to acquire outstanding equity securities of a “public company”.

  • The purpose of the mandatory tender offer rule is to protect minority shareholders against any scheme that dilutes the share value of their investments.

  • The mandatory tender offer rule gives the minority shareholders the chance to exit the company under reasonable terms, giving them the opportunity to sell their shares at the same price as those of the majority shareholders.

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WHAT ARE THE POWERS AND FUNCTIONS OF THE PHILIPPINE COMPETITION COMMISSION?


  • The Philippine Competition Commission is an independent quasi-judicial body mandated to implement the National Competition Policy and enforce Republic Act No. 10667 or the Philippine Competition Act.

  • The PCC ensures the well-being of consumers and preserves the efficiency of businesses by protecting markets from anti-competitive conduct.

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