Updates

Pursuant to Republic Act No. 11036, otherwise known as the Mental Health Act, the Department of Labor and Employment has issued policy guidelines making it mandatory for establishments to formulate a Mental Health Policy and Program to ensure mental health awareness in the workplace and promote a healthy lifestyle and work-life balance. These guidelines apply to establishments in the private sector, including those that deploy OFWs.


You may check the following:

DoLE issues guidelines for workplace mental health

DO 208-20 Guidelines for the Implementation of Mental Health Workplace Policies and Programs for the Private Sector

Updates

The Securities and Exchange Commission (SEC) has issued on 17 February 2020 a draft memorandum circular on the guidelines for converting corporations to a one person corporation (OPC). This draft will be up for comments before its final approval.

This is in line with the introduction of OPCs under Republic Act No. 11232, which took effect in February 2019.

Some of the requirements for converting into OPCs include an affidavit of conversion executed by the single stockholder who has acquired all of the outstanding shares of the corporation and a secretary certificate of no intra-corporate dispute.

The memorandum circular also covers OPCs converting into ordinary stock corporations. One documentary requirement is the notice of conversion detailing the transfer of shares to new stockholders.


You may check:

http://www.sec.gov.ph/wp-content/uploads/2020/02/2020DraftMC_GuidelinesfortheConversionofCorporationsEithertoOnePersonCorporaitonortoOrdinaryStockCorporation.pdf

SEC issues draft rules for firms converting to one shareholder