"Corporations vested with public interests" under the Revised Corporation Code of the Philippines
ABOUT THE COURSE
This course focuses on the term “corporations vested with public interest” under the Revised Corporation Code of the Philippines. While the term had been mentioned twice in the old Corporation Code, it is now prominently dealt with in the re-enacted Code. The objective of these amendments is the promotion of good corporate governance by the adoption of international best practices such as those on transparency and protection of the interest of shareholders, particularly the minority, and stockholders.
Prior to the passage of the Code in 2019, the SEC had this objective in mind by the issuance of various Codes of Corporate Governance, the most recent of which was that covering Publicly Listed Corporations. Further, in its Philippine Corporate Governance Blueprint published in 2015, the SEC committed to issue specific codes of corporate governance for MSMEs and other classes of corporations as well as revise that of public corporations and secondary licensees.
Since corporations vested with public interest have wider participation of investors from the public and their operations impact not only its shareholders and communities but the public, in general, it is only right that they should lead the way.
This course, therefore, will be able to show how each amendment is related to the desired objective and why compliance therewith will lead to a stronger culture of good corporate governance not only among corporations vested with public interest but all other Philippine corporations under the regulation of the SEC.
Module 1: What are corporations vested with public interest?
Module 2: Qualification of an Independent Director
Module 3: Reports Required by SEC
Module 4: Provisions Intended to Protect the Minority Stakeholders
Module 5: How to Treat Related Party Transactions
ATTY. TERESITA J. HERBOSA
Of Counsel, ACCRALAW / (Fmr.) SEC Chairperson
Atty. Herbosa is the former SEC Chairperson whose seven-year term ended in June 2018. As a consequence of the various reforms at SEC under her leadership, in 2014, she was awarded the UP Distinguished Alumni Award for Public Service. Moreover, for two consecutive years, 2015 and 2016, SEC emerged, based on two nationwide surveys, as no. 1 in the fight against corruption among 35 other government agencies in the Philippines. While at the SEC, she proposed amendments to the Corporation Code all of which were passed by Congress and enacted as the Revised Corporation Code of the Philippines in February 2019.