Bill/Legislative Initiative

Summary/Rationale/Status

1. Personal Equity and Retirement Account (R.A. 9505)

Signed into law on August 22, 2008.

IRR issued by BSP on October 21, 2009

BIR submitted RR to DOF August 16, 2011

DOF returned RR to BIR for revisions

2. Credit Information System Act (R.A. 9510)

Signed into law on October 31, 2008.

Credit Information Corp. has P33 million in equity, of which P17.5 million is from Government. It is now in the process of incorporation and registration.

3. Real Estate Investment Trust Act (R.A. 9856)

Lapsed into Law on December 17, 2009

IRR Amendments issued by SEC April 27, 2011

RR issued by BIR July 25, 2011

4. Financial Rehabilitation and Insolvency Act

Lapsed into Law on July 18, 2010

The Courts to prescribe implementation

5. Collective Investment Schemes Law

Download:
SBN49 (Sen. Angara)

Primary Comm.- Banks, Financial Institutions and Currencies; Secondary - Trade and Commerce; Ways & Means

Download:
HB-247

HB-1871 (Rep. Durano VI)

Primary Comm.- Trade and Industry Secondary - Economic Affairs

First Reading - July 27, 2010

Filed July 1, 2010

Filed July 28, 2010

6. Land Administration Reform Act of 2007

Download:
HB 44 (Reps.Rufus. Rodriguez & Maximo Rodriguez)

Primary Comm. – Government Re-organization Secondary – Justice, Natural Resources

Filed: July 1, 2010

Transmitted to the House Committee on Appropriations June 6, 2011

7. Financial Sector Taxation

No bill has yet been filed in either the Senate or the House of Representatives

8. General Banking Law

Download:
SBN-131 (Sen. Drilon)

Primary Comm.– Banks, Financial Institutions & Currencies Secondary - Ways and Means  

First Reading August 2, 2010

9. New Central Bank Act

Download:
SBN 54 (Sens. Angara & Recto)

SBN 2742 (Sen. Recto)

Primary Comm.– Banks, Financial Institutions & Currencies Secondary - Ways and Means

HB 61 (Rep. Villafuerte)

Primary Comm- Bank & Financial Intermediaries

First Reading July 28, 2010

First Reading March 14, 2011

First Reading July 27, 2010

10. Amendments to Insurance Code

Download:
SBN 2500 (Sen. Osmena)

SBN 53 (Sen. Angara)
Primary Comm.– Banks, Financial Institutions & Currencies

HB 1502 (Rep. Angara)

HB 3797 (Rep. Mandanas)

First Reading Sept. 27, 2010

First Reading July 28, 2010

First Reading August 2, 2010

First Reading December 13, 2010