Bill Type
Short Title
REVISED CORPORATION CODE
Text as Filed (File)
Third Reading Copy link (HRep)
Scope
Legislative Status
Legislative Status Date
Session Sequence No.
34
Session Type
Subjects
Document Certification
All Information (Senate Website)
Legislative History (Senate Website)
Committee Referral (Senate Website)
Floor Activity (Senate Website)
Committee Details
House Committee Report link
Legislative History
| House Bill/Resolution NO. HB08374 | |
| REPUBLIC ACT NO. RA11232 | |
| FULL TITLE : AN ACT PROVIDING FOR THE REVISED CORPORATION CODE OF THE PHILIPPINES | |
| SHORT TITLE : Providing For The Revised Corporation Code Of The Philippines | |
| ABSTRACT : Provides for a Revised Corporation Code based on international best practices and standards to address and meet the needs and realities of business in the Philippines; encourage new businesses, deter corporate fraud and abuse, strengthen good corporate governance and rationalize the authority of the Security and Exchange Commission.Seeks to allow the corporation to have perpetual life existence; accept electronic filing with the SEC, thereby contributing to the ease of doing business; permit stockholders to vote remotely, at the option of the corporation; allow the establishment of one-person corporations; and require the SEC to notify and coordinate with the appropriate government agency prior to the suspension or revocation of the certificate of incorporation of companies under the agency"s special regulatory jurisdiction. | |
| ALIAS NAME : "Revised Corporation Code of the Philippines." | |
| PRINCIPAL AUTHOR/S : ROMUALDO, XAVIER JESUS D., BRAVO, MARIA VIDA ESPINOSA, GONZALES, ALEXANDRIA P., BIRON, FERJENEL G. M.D., BATOCABE, RODEL M., GARBIN, ALFREDO JR. A., CO, CHRISTOPHER S., SALCEDA, JOEY SARTE, UYBARRETA, CARLOS ROMAN, OLIVAREZ, ERIC L., SARMIENTO, EDGAR MARY S., PIMENTEL, JOHNNY TY, MACEDA, EDWARD VERA PEREZ, NIETO, JOHN MARVIN "YUL SERVO" C., DALIPE, MANUEL JOSE "MANNIX" M., BULUT-BEGTANG, ELEONOR C., BERTIZ, ANICETO "JOHN" III D., TOLENTINO, ABRAHAM "BAMBOL" N., GONZALEZ, FERNANDO V., ACOP, ROMEO M., ERMITA-BUHAIN, ELENITA MILAGROS "EILEEN", DAZA, RAUL A., BAUTISTA-BANDIGAN, LORNA P., DUAVIT, JOHN MICHAEL R., ADVINCULA, ALEX "AA" L., AGARAO, BENJAMIN JR. C., FLOIRENDO, ANTONIO R., TREÑAS, JERRY P., BELMONTE, RICARDO "RJ" JR. T., SALO, RON P., VILLARIN, TOM S., CANAMA, SABINIANO S., MONTORO, TEODORO "TED" G., BELARO, SALVADOR JR. B., SALON, ORESTES T., MENDING, MAKMOD JR. D., LOPEZ, MANUEL LUIS T., PINEDA, ENRICO A., PANGANIBAN, JOSE JR. T. CPA, LLB, TAN, ANGELINA "HELEN" D.L. M.D., ESCUDERO, EVELINA G., SUANSING, ESTRELLITA B., ROQUE, ROGELIO NEIL P., ZUBIRI, MANUEL F., GO, MARK O., SILVERIO, LORNA C., VERGARA, ROSANNA "RIA" V., TAN, MILAGROSA "MILA" T., RODRIGUEZ, MAXIMO JR.B., ALVAREZ, FRANZ E., TAMBUNTING, GUS S., RELAMPAGOS, RENE L., LIMKAICHONG, JOCELYN SY, ACOSTA-ALBA, MARIA LOURDES, SAVELLANO, DEOGRACIAS VICTOR B., LOPEZ, CARLO V., UY, JULIETTE T., GARCIA, JOSE ENRIQUE III S., ABAYA, FRANCIS GERALD A., EVARDONE, BEN P., JAVIER, PAOLO EVERARDO S., CAGAS, MERCEDES "DIDI" C., JALOSJOS, SETH FREDERICK P., ROMUALDEZ, YEDDA MARIE K., RODRIGUEZ, ISIDRO JR. S., DURANO, RAMON "RED" VI H., ONG, HENRY C., SAGARBARRIA, MANUEL, LAOGAN, DENNIS C., DIMAPORO, ABDULLAH D., MARCOLETA, RODANTE D., TUPAS, RAUL "BOBOY" C., MENDOZA, RAYMUND DEMOCRITO C., ARCILLAS, ARLENE B., CHAVEZ, CECILIA LEONILA V., EUSEBIO, RICHARD C. | |
| DATE FILED : 2018-10-04 | |
| SIGNIFICANCE: NATIONAL | |
| AUTHORS(Final/Third Reading) : | |
| 1. Romualdo | 2. Bravo (M.) |
| 3. Gonzales (A.P.) | 4. Biron |
| 5. Batocabe | 6. Garbin |
| 7. Co | 8. Salceda |
| 9. Uybarreta | 10. Olivarez |
| 11. Sarmiento (E.M.) | 12. Pimentel |
| 13. Maceda | 14. Nieto |
| 15. Dalipe | 16. Bulut-Begtang |
| 17. Bertiz | 18. Tolentino |
| 19. Gonzalez | 20. Acop |
| 21. Ermita-Buhain | 22. Daza |
| 23. Bautista-Bandigan | 24. Duavit |
| 25. Advincula | 26. Agarao |
| 27. Floirendo | 28. Treñas |
| 29. Belmonte (R.) | 30. Salo |
| 31. Villarin | 32. Canama |
| 33. Montoro | 34. Belaro |
| 35. Salon | 36. Mending |
| 37. Lopez (M.L.) | 38. Pineda |
| 39. Panganiban | 40. Tan (A.) |
| 41. Escudero | 42. Suansing (E.) |
| 43. Roque (R.N.) | 44. Zubiri |
| 45. Go (M.) | 46. Silverio |
| 47. Vergara | 48. Tan (M.) |
| 49. Rodriguez (M.) | 50. Alvarez (F.) |
| 51. Tambunting | 52. Relampagos |
| 53. Limkaichong | 54. Acosta-Alba |
| 55. Savellano | 56. Lopez (C.) |
| 57. Uy (J.) | 58. Garcia (J.E.) |
| 59. Abaya | 60. Evardone |
| 61. Javier | 62. Cagas |
| 63. Jalosjos | 64. Romualdez |
| 65. Rodriguez (I.) | 66. Durano |
| 67. Ong (H.) | 68. Sagarbarria |
| 69. Laogan | 70. Dimaporo (A.) |
| 71. Marcoleta | 72. Tupas |
| 73. Mendoza | 74. Arcillas |
| 75. Chavez | 76. Eusebio |
| 77. Billones | 78. Primicias-Agabas |
| 79. Sy-Alvarado | |
| COUNTERPART HOUSE BILL/CONCURRENT RESOLUTION: SB01280 | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE REPORT NO. 00885 | |
| SUBMITTED ON 2018-10-04 | |
| SUBMITTED BY: TRADE AND INDUSTRY | |
| RECOMMENDATIONS: Recommending its approval in substitution of House Bills Numbered 528, 877, 1324, 2917, 5970 and 7245 | |
| SUBSTITUTED BILLS: HB00528, HB00877, HB01324, HB02917, HB05970, HB07245 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON RULES ON 2018-10-08 | |
| DATE INCLUDED IN OB: 2018-10-08 | |
| DATE CALENDARED : 2018-10-08 | |
| SECOND READING INFORMATION | |
| PERIOD OF SPONSORSHIP : 2018-10-08, 2018-10-10 | |
| SPONSORED BY : Biron;Romualdo;Romualdo | |
| DATE SPONSORSHIP/DEBATE CLOSED: 2018-10-10 | |
| FINAL LIST OF AUTHORS : Romualdo, Bravo (M.), Gonzales (A.P.), Biron, Batocabe, Garbin, Co, Salceda, Uybarreta, Olivarez, Sarmiento (E.M.), Pimentel, Maceda, Nieto, Dalipe, Bulut-Begtang, Bertiz, Tolentino, Gonzalez, Acop, Ermita-Buhain, Daza, Bautista-Bandigan, Duavit, Advincula, Agarao, Floirendo, Treñas, Belmonte (R.), Salo, Villarin, Canama, Montoro, Belaro, Salon, Mending, Lopez (M.L.), Pineda, Panganiban, Tan (A.), Escudero, Suansing (E.), Roque (R.N.), Zubiri, Go (M.), Silverio, Vergara, Tan (M.), Rodriguez (M.), Alvarez (F.), Tambunting, Relampagos, Limkaichong, Acosta-Alba, Savellano, Lopez (C.), Uy (J.), Garcia (J.E.), Abaya, Evardone, Javier, Cagas, Jalosjos, Romualdez, Rodriguez (I.), Durano, Ong (H.), Sagarbarria, Laogan, Dimaporo (A.), Marcoleta, Tupas, Mendoza, Arcillas, Chavez, Eusebio, Billones, Primicias-Agabas, Sy-Alvarado | |
| DATE APPROVED ON SECOND READING : 2018-10-10 | |
| THIRD READING INFORMATION | |
| DATE COPY DISTRIBUTED TO MEMBERS: 2018-11-06 | |
| DATE APPROVED BY THE HOUSE ON THIRD READING :2018-11-12 | |
| HOUSE VOTES: YEAS:165 NAYS:0 ABSTAIN:.0 | |
| Voting Details Per Member(Legend:Y-Yes N-No A-Abstain X-Did Not Vote B-Absent D-N/A) | |
| D---Abad--(N/A) | X---Abaya |
| Y---Abayon | Y---Abellanosa |
| B---Abu--(Absent) | X---Abueg |
| Y---Acharon | B---Acop--(Absent) |
| B---Acosta--(Absent) | Y---Acosta-Alba |
| Y---Adiong | Y---Advincula |
| X---Agarao | Y---Aggabao |
| D---Aglipay-Villar--(N/A) | D---Akbar--(N/A) |
| Y---Albano | B---Alcala--(Absent) |
| B---Alejano--(Absent) | X---Almario |
| Y---Almonte | Y---Alonte |
| B---Alvarez (F.)--(Absent) | Y---Alvarez (M.) |
| B---Alvarez (P.)--(Absent) | B---Amante--(Absent) |
| Y---Amatong (I.) | Y---Andaya |
| B---Angara-Castillo--(Absent) | B---Antonino--(Absent) |
| B---Antonio--(Absent) | X---Aragones |
| Y---Arbison | Y---Arcillas |
| Y---Arenas | Y---Atienza |
| B---Aumentado--(Absent) | Y---Bag-ao |
| B---Bagatsing--(Absent) | B---Baguilat--(Absent) |
| Y---Banal | B---Barbers--(Absent) |
| X---Barzaga | Y---Bataoil |
| Y---Batocabe | X---Bautista-Bandigan |
| Y---Belaro | Y---Belmonte (F.) |
| Y---Belmonte (J.C.) | X---Belmonte (R.) |
| B---Benitez--(Absent) | Y---Bernos |
| Y---Bertiz | B---Biazon--(Absent) |
| Y---Billones | B---Biron--(Absent) |
| Y---Bolilia | Y---Bondoc |
| Y---Bordado | Y---Bravo (A.) |
| X---Bravo (M.) | Y---Brosas |
| Y---Bulut-Begtang | Y---Cagas |
| D---Calalang--(N/A) | X---Calderon |
| Y---Calixto-Rubiano | Y---Caminero |
| B---Campos--(Absent) | Y---Canama |
| Y---Cari | Y---Casilao |
| Y---Castelo | Y---Castro (F.L.) |
| Y---Castro (F.H.) | B---Catamco--(Absent) |
| Y---Cayetano | B---Celeste--(Absent) |
| B---Cerafica--(Absent) | Y---Cerilles Enerio |
| Y---Chavez | Y---Chipeco |
| Y---Co | B---Cojuangco--(Absent) |
| X---Collantes | Y---Cortes |
| Y---Cortuna | Y---Cosalan |
| Y---Crisologo | B---Cua--(Absent) |
| Y---Cuaresma | Y---Cueva |
| Y---Dalipe | D---Dalog--(N/A) |
| X---Datol | Y---Daza |
| Y---De Jesus | X---De Venecia |
| X---De Vera | Y---Defensor |
| Y---Del Mar | X---Del Rosario |
| Y---Deloso-Montalla | Y---Dimaporo (A.) |
| X---Dimaporo (M.K.) | B---Duavit--(Absent) |
| B---Durano--(Absent) | Y---Dy |
| Y---Elago | Y---Enverga |
| B---Erice--(Absent) | B---Eriguel--(Absent) |
| Y---Ermita-Buhain | X---Escudero |
| Y---Espina | Y---Espino |
| B---Estrella--(Absent) | B---Eusebio--(Absent) |
| Y---Evardone | B---Fariñas--(Absent) |
| Y---Fernando | Y---Ferrer J. |
| Y---Ferrer L. | X---Ferriol-Pascual |
| X---Floirendo | X---Flores |
| Y---Fortun | Y---Fortuno |
| B---Fuentebella--(Absent) | Y---Garbin |
| D---Garces--(N/A) | Y---Garcia (G.) |
| X---Garcia (J.E.) | B---Garcia-Albano--(Absent) |
| B---Garin (O.)--(Absent) | X---Garin (S.) |
| Y---Gasataya | X---Gatchalian |
| X---Geron | Y---Go (A.C.) |
| Y---Go (M.) | X---Gomez |
| B---Gonzaga--(Absent) | Y---Gonzales (A.P.) |
| Y---Gonzales (A.D.) | Y---Gonzalez |
| B---Gorriceta--(Absent) | B---Gullas--(Absent) |
| X---Hernandez (F.) | Y---Hernandez (P.) |
| Y---Herrera-Dy | Y---Hofer |
| X---Jalosjos | Y---Javier |
| X---Kho | X---Khonghun |
| Y---Labadlabad | Y---Lacson |
| Y---Lagman | Y---Lanete |
| X---Laogan | B---Lazatin--(Absent) |
| X---Leachon | X---Lee |
| Y---Limkaichong | Y---Lobregat |
| B---Lopez (B.)--(Absent) | Y---Lopez (C.) |
| Y---Lopez (M.L.) | X---Loyola |
| Y---Macapagal Arroyo | Y---Maceda |
| Y---Madrona | Y---Aquino-Magsaysay |
| B---Nuñez-Malanyaon--(Absent) | Y---Malapitan |
| Y---Manalo | Y---Mangaoang |
| X---Mangudadatu (S.) | X---Mangudadatu (Z.) |
| Y---Marcoleta | B---Marcos--(Absent) |
| Y---Mariño | Y---Marquez |
| X---Martinez | X---Matugas |
| X---Mellana | Y---Mending |
| B---Mendoza--(Absent) | B---Mercado--(Absent) |
| B---Mirasol--(Absent) | Y---Montoro |
| X---Nava | Y---Nieto |
| Y---Noel | X---Nograles (J.J.) |
| B---Nograles (K.A.)--(Absent) | Y---Nolasco |
| B---Oaminal--(Absent) | B---Ocampo--(Absent) |
| X---Olivarez | X---Ong (H.) |
| Y---Ong (E.) | Y---Ortega (P.) |
| Y---Ortega (V.N.) | Y---Pacquiao |
| Y---Paduano | Y---Palma |
| Y---Pancho | Y---Panganiban |
| Y---Panotes | Y---Papandayan |
| Y---Pichay | D---Pico--(N/A) |
| Y---Pimentel | Y---Pineda |
| X---Plaza | Y---Primicias-Agabas |
| Y---Roa-Puno | Y---Quimbo |
| X---Radaza | X---Ramirez-Sato |
| Y---Ramos | X---Relampagos |
| X---Revilla | Y---Robes |
| X---Rocamora | Y---Rodriguez (I.) |
| Y---Rodriguez (M.) | Y---Roman |
| Y---Romero | Y---Romualdez |
| Y---Romualdo | D---Roque (H.)--(N/A) |
| B---Roque (R.N.)--(Absent) | Y---Sacdalan |
| Y---Sagarbarria | B---Sahali--(Absent) |
| B---Salceda--(Absent) | X---Salimbangon |
| Y---Salo | Y---Salon |
| Y---Sambar | X---Sandoval |
| Y---Sangcopan | Y---Santos-Recto |
| Y---Sarmiento (C.) | Y---Sarmiento (E.M.) |
| X---Savellano | B---Sema--(Absent) |
| Y---Siao | Y---Silverio |
| Y---Singson (E.) | Y---Suansing (E.) |
| Y---Suansing (H.) | Y---Suarez |
| B---Sy-Alvarado--(Absent) | Y---Tambunting |
| B---Tan (A.)--(Absent) | B---Tan (M.)--(Absent) |
| B---Tan (S.)--(Absent) | X---Tejada |
| Y---Teves | B---Tiangco--(Absent) |
| Y---Ting | Y---Tinio |
| Y---Tolentino | X---Treñas |
| Y---Tugna | X---Tupas |
| D---Turabin-Hataman--(N/A) | Y---Ty |
| B---Umali--(Absent) | X---Unabia |
| X---Ungab | X---Unico |
| Y---Uy (J.) | Y---Uy (R.) |
| Y---Uybarreta | X---Vargas |
| Y---Vargas-Alfonso | B---Velarde--(Absent) |
| B---Velasco, L.A.--(Absent) | X---Velasco-Catera |
| Y---Veloso | Y---Vergara |
| B---Villafuerte--(Absent) | Y---Villanueva |
| D---Villar--(N/A) | B---Villaraza-Suarez--(Absent) |
| Y---Villarica | X---Villarin |
| Y---Violago | X---Yap (A.) |
| Y---Yap (M.) | X---Yap (V.) |
| B---Yu--(Absent) | X---Zamora (M.C.) |
| X---Zamora (R.) | Y---Zarate |
| Y---Zubiri | --- |
| DATE TRANSMITTED TO THE SENATE: 2018-11-13 | |
| ACTIONS TAKEN BY THE SENATE/HOUSE | |
| DATE RECEIVED BY THE SENATE: 2018-11-13 | |
| CONFERENCE COMMITTEE INFORMATION | |
| DATE REQUESTED TO FORM A CONFERENCE COMMITTEE : 2018-11-13 | |
| CONFERENCE COMMITTEEE REQUESTED BY : SENATE | |
| DATE CC REQUEST RECEIVED BY THE HOUSE : 2018-11-19 | |
| DATE AGREED TO FORM A CONFERENCE COMMITTEE : 2018-11-14 | |
| REMARKS : | |
| CONCOM MEMBERS(HOUSE) : Biron, Romualdo, Vergara, Zubiri, Tambunting, Primicias-Agabas, Escudero, Yap (A.), Salo, Arcillas | |
| CONCOM MEMBERS(SENATE) : Drilon, Angara, Villanueva, Zubiri | |
| DATE HOUSE RATIFIED CONCOM REPORT : 2018-11-28 | |
| DATE SENATE APPROVED CONCOM REPORT : 2018-11-28 | |
| DATE CC MESSAGE RECEIVED BY THE HOUSE : 2018-12-04 | |
| DATE COPIES OF ENROLLED BILL RECEIVED BY THE HOUSE : 2019-01-21 | |
| DATE SIGNED COPIES OF ENROLLED BILL RECEIVED BY THE SENATE : 2019-01-24 | |
| ACTIONS TAKEN BY THE PRESIDENT | |
| DATE TRANSMITTED TO THE PRESIDENT : 2019-01-28 | |
| DATE ACTED UPON BY THE PRESIDENT : 2019-02-20 | |
| PRESIDENTIAL ACTION:(A)PPROVED/(V)ETOED/(L)APSED : A | |
| REPUBLIC ACT NO.: RA11232 | |
| ORIGIN : SENATE | |
| REPUBLIC ACT TITLE: AN ACT PROVIDING FOR THE REVISED CORPORATION CODE OF THE PHILIPPINES |
Senate Legislative History
Entitled: AN ACT PROVIDING FOR THE REVISED CORPORATION CODE OF THE PHILIPPINES [ THIRD REGULAR SESSION, 17TH CONGRESS ] [ 2018 ] Introduced by Representatives XAVIER JESUS D. ROMUALDO, MARIA VIDA E. BRAVO, ALEXANDRIA P. GONZALES, FERJENEL M.D. G. BIRON, et. al.; Approved on Third Reading by the House of Representatives on November 12, 2018; 11/13/2018 Sent to the Senate requesting for concurrence; 11/14/2018 Read on First Reading and Referred to the Committee on RULES; 11/15/2018 Senate requested the House of Representatives for a conference on the disagreeing provisions of SBN-1280 and HBN-8374, designating Senators Drilon, Angara and Villanueva as its conferees to the Bicameral Conference Committee on November 13, 2018; 11/26/2018 House of Representatives designated Representatives Biron, Romualdo, Vergara, Zubiri, Tambunting, Primicias-Agabas, Escudero, Yap, Salo and Arcillas as conferees to the Bicameral Conference Committee on the disagreeing provisions of SBN-1280 and HBN-8374 on November 14, 2018; 11/26/2018 Senate President Sotto III designated Senator Zubiri as additional member of the Senate panel in the Bicameral Conference Committee on the disagreeing provisions of SBN-1280 and HBN-8374; 11/28/2018 Conference Committee Report on the disagreeing provisions of SBN-1280 and HBN-8374, submitted to the Senate, recommending the ratification of the attached copy of the Reconciled bill; 11/28/2018 Sponsorship speech on the conference committee report of Senator FRANKLIN M. DRILON; 11/28/2018 Conference Committee Report Approved by the Senate; 12/4/2018 Conference Committee Report Approved by the House of Representatives on November 28, 2018; [ 2019 ] 1/21/2019 Letter from Senate Secretary Atty. Myra Marie D. Villarica, dated January 16, 2019, transmitting nine (9) enrolled copies of the consolidated version of SBN-1280 and HBN-8374, for the signature of Speaker Gloria Macapagal-Arroyo and Acting Secretary General of the House of Representatives, Mr. Dante Roberto P. Maling; 1/24/2019 Letter for Senate Secretary Myra Marie D. Villarica, dated January 23, 2019, returning eight (8) enrolled copies of SBN-1280 and HBN-8374, which were signed by Speaker Gloria Macapagal-Arroyo and the Acting Secretary General of the House of Representatives, Mr. Dante Roberto P. Maling; 1/28/2019 Enrolled copies of SBN-1280 and HBN-8374, sent to the Office of the President of the Philippines through PLLO for the signature and approval of His Excellency, President Rodrigo Roa Duterte; 5/20/2019 Consolidated with SBN-1280, which was Approved and Signed into Law by the President of the Philippines, His Excellency, President Rodrigo Roa Duterte on February 20, 2019 and became 5/20/2019 REPUBLIC ACT NO. 11232. (Pursuant to paragraph g, Sec. 7, Rule V of the Rules of the Senate, R.A.No. 11232 (HBN-8374) with the pertinent documents transmitted to the Legislative Records and Archives Service for safekeeping and preservation on May 29, 2019) (The legislative history/plenary deliberations is prepared by the INDEXING, MONITORING AND LIS SECTION, LEGISLATIVE BILLS AND INDEX SERVICE; The data entry on committee meetings is prepared by the Committee Affairs Bureau)
Abstract
Provides for a Revised Corporation Code based on international best practices and standards to address and meet the needs and realities of business in the Philippines; encourage new businesses, deter corporate fraud and abuse, strengthen good corporate governance and rationalize the authority of the Security and Exchange Commission.Seeks to allow the corporation to have perpetual life existence; accept electronic filing with the SEC, thereby contributing to the ease of doing business; permit stockholders to vote remotely, at the option of the corporation; allow the establishment of one-person corporations; and require the SEC to notify and coordinate with the appropriate government agency prior to the suspension or revocation of the certificate of incorporation of companies under the agency"s special regulatory jurisdiction.
Law PDF
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.