Corporation Code, 3 other economic reform bills up before House plenary
Four socio-economic reform bills approved by the House Committee on Trade and Industry will be taken up by the House of Representatives when it resumes its sessions in November, Iloilo 4th district Rep. Ferjenel G. Biron, committee chairman, said yesterday.
These are a bill consolidating House bills 528, 877, 13242917, and 5970 amending Batas Pambansa 68, the Corporation Code of the Philippines, a bill providing that gift checks should have no expiry date, a bill for ease of doing business in the Philippines, and creation of a drug price regulatory board.
Biron said the gift check non-expiry date bill is expected to be ratified at the resumption of session next month after its approval in the bicameral conference committee.
The bill which he authored, known as the “Gift Check Non-Expiry Act,” makes it unlawful for any issuer to issue or sell a gift check, gift certificate, and card gift that contains an expiry date.
The ease of doing business bill will be tackled in the plenary at the resumption of session by November after its approval by the committee recently. It will create a business environment which is attractive to investors and will lessen the documentation procedure and waiting days in business permit application.
The Iloilo solon pointed out that it will also provide for the automatic approval and release of business permits upon the lapse of 30 days of inaction, provided that all necessary documents have been submitted.
Congressman Biron, chairman said the committee created a technical working group to harmonize house bills 3252 and 6332 and establish a drug price regulatory board to regulate the prices of drugs and medicines in the Philippines. The bill will amend RA 9502, the Universally Accessible Cheaper and Quality Medicines Act of 2008.
Biron, principal author of the bill, said the law has not fully attained its core objectives, saying the prices of medicines remain prohibitive, beyond the reach of ordinary Filipinos.