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Draft Revised Guidelines on Beneficial Ownership Disclosure (Philippines)
Patricia O. Ko
- Corporate
- General Corporate
- Global Practice
Publication
*Please note that this newsletter is for informational purposes only and does not constitute legal advice. In addition, it is based on information as of its date of publication and does not reflect information after such date. In particular, please also note that preliminary reports in this newsletter may differ from current interpretations and practice depending on the nature of the report.
Background
On 23 June 2020, the Cabinet adopted a resolution approving a bill of amendment to the Civil and Commercial Code (the “CCC”) governing partnerships and limited companies (the “Bill”). This amendment is in addition to the bill of amendment to the CCC for private limited companies previously approved on 9 June 2020 – two (2) weeks earlier.
The key amendments are as follows:
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Claire Chong, Nozomi Kato (Co-author)
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Nopparak Yangiam, Parot Promkam (Co-author)
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Shohei Sasaki, Shunsuke Minowa, Poonyisa Sornchangwat, Kwanchanok Jantakram (Co-author)