Bill Type
Long Title
AN ACT ESTBALISHING THE PRE-NEED PLAN CODE OF THE PHILIPPINES
Congress Author
Date filed
July 2, 2001
Scope
Urgent Bill
No

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.