Legislative History
House Bill/Resolution NO. House Bill No. 246, 12th Congress of the Republic | |
FULL TITLE : AN ACT ESTBALISHING THE PRE-NEED PLAN CODE OF THE PHILIPPINES | |
ABSTRACT : Rationale: The proliferation of pre-need corporations has raised questions on the industry's financial capabilities specifically on its ability to provide security to its investors and planholders. There is a need to regulate the industry to protectits investors and planholders from fraud by pre-need corporations. There is likewise a need to regulate the industry to protect it from unscrupulous pre-need corporations who may take advantage of the good name of honest members of the industry. There is a need to provide regulatory standards within the industry to ensure a level playing field to enable potential purchasers true freedom of choice. Finally, there is a need to strengthen government's regulatory capabilities to insure that the inndustry serves its purpose, does not become a forum for abuse. | |
PRINCIPAL AUTHOR/S : LAPUS, JESLI A. | |
DATE FILED : 2001-07-02 | |
SIGNIFICANCE: NATIONAL | |
CO-AUTHORS (Journal Entries) : | |
1. Puentebella (006 ) | 2. Monfort (010 ) |
3. Lopez (011 ) | 4. Bulut (011 ) |
5. Defensor (011 ) | 6. Villar (011 ) |
7. Gatchalian (011 ) | 8. Torres (011 ) |
9. Remulla (011 ) | 10. Pilando (011 ) |
11. Bersamin (011 ) | 12. Defensor (011 ) |
13. Domogan (011 ) | 14. Santiago (011 ) |
15. Gordon (011 ) | 16. Baculio (011 ) |
17. Sy-alvarado (011 ) | 18. Lacson (011 ) |
19. Espina (014 ) | 20. Romualdo (013 ) |
21. Zialcita (021 ) | 22. Plaza (072 ) |
23. Villanueva (078 ) | 24. Reyes (017 ) |
25. Espino (029 ) | 26. Syjuco (041 ) |
ADMINISTRATION BILL? No | |
URGENT BILL? No | |
ACTIONS TAKEN BY THE COMMITTEE | |
MOTHER BILL: House Bill No. 5535, 12th Congress of the Republic | |
ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2001-07-24 |
Abstract
"Rationale: The proliferation of pre-need corporations has raised questions on the industry's financial capabilities specifically on its ability to provide security to its investors and planholders. There is a need to regulate the industry to protectits investors and planholders from fraud by pre-need corporations. There is likewise a need to regulate the industry to protect it from unscrupulous pre-need corporations who may take advantage of the good name of honest members of the industry. There is a need to provide regulatory standards within the industry to ensure a level playing field to enable potential purchasers true freedom of choice. Finally, there is a need to strengthen government's regulatory capabilities to insure that the inndustry serves its purpose, does not become a forum for abuse."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.