UNIT X FOREIGN INVESTMENTS ACT, AS AMENDED (REPUBLIC ACT NO. 7042, AS AMENDED BY REPUBLIC ACT NO. 8179 AND REPUBLIC ACT NO. 11647) 466 Philippine National .................................................. 468 Doing Business ..................................................... 470 Registration of Investments of Non-Philippine National . . . . . . . . . . . . . . . . . . . . 474 Foreign Investments in Export Enterprises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 474 Foreign Investments in Domestic Market Enterprises . . . . . . . . . . . . . . . . . . . . . . 475
REGULATORY FRAMEWORK AND LEGAL ISSUES IN BUSINESS
UNIT XI FINANCIAL REHABILITATION AND INSOLVENCY LAW (REPUBLIC ACT NO. 10142)
PrincipleofLegitimatePurpose........................................ 444 PrincipleofProportionality ........................................... 445 Organizational, Physical, and Technical Security Measures . . . . . . . . . . . . . . . . . 445 PowersoftheNationalPrivacyCommission.............................. 447 Mandatory Personal Information Breach Notification. . . . . . . . . . . . . . . . . . . . . . 447 Requirements of Breach Notification (Sec. 38, IRR) . . . . . . . . . . . . . . . . . . . . . . . . 447 Sanctions .......................................................... 448
484
Rehabilitation and Insolvency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 485 Debtor and Creditor ................................................. 486 NatureofProceedingsunderFRIA...................................... 487 VoluntaryProceedings............................................... 489 InvoluntaryProceedings.............................................. 490 Pre-negotiated Rehabilitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 491 Out-of-Court or Informal Rehabilitation Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . 492 Suspension of Payments by an Individual Debtor. . . . . . . . . . . . . . . . . . . . . . . . . . 495 RehabilitationReceiver............................................... 496 Objections to Rehabilitation Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 498 Effects of Confirmation of Rehabilitation Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500 Liquidation......................................................... 501 VoluntaryLiquidation................................................ 501 InvoluntaryLiquidation .............................................. 501 Conversion of Rehabilitation Proceedings to Liquidation Proceedings. . . . . . . . . 502 Liquidation Order . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 503 EffectsoftheLiquidationOrder ....................................... 504 TheLiquidator ..................................................... 504 Qualifications of the Liquidator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 505 Powers, Duties, and Responsibilities of the Liquidator . . . . . . . . . . . . . . . . . . . . . 505 Removal of the Liquidator . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 506
UNIT IX ELECTRONIC COMMERCE ACT OF 2000 (REPUBLIC ACT NO. 8792) AND THE RULES ON ELECTRONIC EVIDENCE (A.M. NO. 01-7-01-SC) CHAPTER 1: ELECTRONIC COMMERCE ACT OF 2000 (REPUBLIC ACT NO. 8792)
453
454
Application ........................................................ 454 Legal Recognition of Electronic Writing or Document and Data Messages . . . . . 456 Presumption Relating to Electronic Signatures. . . . . . . . . . . . . . . . . . . . . . . . . . . . 457 Admissibility and Evidential Weight of Electronic Data Message or Electronic Document ......................................................... 457 FormationofContractsinElectronicForm............................... 458
xiv
CHAPTER 2: RULES ON ELECTRONIC EVIDENCE (A.M. NO. 01-7-01-SC)
460
xiii ApplicationoftheRules.............................................. 460 Electronic Data Message and Electronic Document. . . . . . . . . . . . . . . . . . . . . . . . 460 Admissibility in Evidence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 461 Authentication ..................................................... 462 UNIT X FOREIGN INVESTMENTS ACT, AS AMENDED (REPUBLIC ACT NO. 7042, AS AMENDED BY REPUBLIC ACT NO. 8179 AND REPUBLIC ACT NO. 11647) 466 Philippine National .................................................. 468 Doing Business ..................................................... 470 Registration of Investments of Non-Philippine National . . . . . . . . . . . . . . . . . . . . 474 Foreign Investments in Export Enterprises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 474 Foreign Investments in Domestic Market Enterprises . . . . . . . . . . . . . . . . . . . . . . 475
REFERENCES .................................................... 509
UNIT XI FINANCIAL REHABILITATION AND INSOLVENCY LAW (REPUBLIC ACT NO. 10142)
484
xv
Rehabilitation and Insolvency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 485 Debtor and Creditor ................................................. 486 NatureofProceedingsunderFRIA...................................... 487 VoluntaryProceedings............................................... 489 InvoluntaryProceedings.............................................. 490 Pre-negotiated Rehabilitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 491 Out-of-Court or Informal Rehabilitation Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . 492 Suspension of Payments by an Individual Debtor. . . . . . . . . . . . . . . . . . . . . . . . . . 495 RehabilitationReceiver............................................... 496 Objections to Rehabilitation Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 498 Effects of Confirmation of Rehabilitation Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500
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