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May 17, 2020 P15.00 Businessvolume 2 Series 34 12 PAGES “Radiating positivity, creating connectivity” CEBU May 11, 2020 - May 17, 2020 P15.00 BUSINESSVolume 2 Series 34 12 PAGES Room 310-A, 3rd floor WDC Bldg. Osmeña Blvd., Cebu City WEEK You may visit Cebu Business Week Facebook page. AMEND AMLA, ENTRY LAWS Anti-laundering, immigration need changes to invite foreign investors TO INVITE more and employees, and Sitoy said that once the shipping companies. foreign investors to invest integrate their overtime pay. original copy with comments This was immediately in the Philippines once These were revealed from cabinet members will stopped by Duterte when the coronavirus disease to Cebu Business Week by be submitted back to the he assumed as president in (Covid-19) crisis is over, Secretary Adelino “Ade” House of Representatives, 2016. Malacañang wants Congress Sitoy of the Presidential there will be smooth Sitoy said that since the to amend the Anti-Money Legislative Liaison Office discussion and deliberation immigration law was passed Laundering Act (AMLA) and (PLLO). Sitoy’s second in the committee and a long time ago, it is now the immigration law. cabinet position is plenary. time to amend it, give the President Rodrigo Presidential Adviser for Once approved by the reasonable compensation to Duterte wants to include Legislative Affairs. House, this will be forwarded officials and employees, and a provision in AMLA Sitoy is the only to the Senate for passage, and integrate their overtime pay giving safeguards and state Cebuano secretary in the to the bicameral committee on it. The government will guarantees to all good Duterte administration composed of selected shoulder their salaries and foreign investments from since 2018 holding two senators and congressmen wages, and overtime pay. any country. cabinet positions that allow before final submission to In the AMLA, Sitoy said Duterte also wants an him to walk in the corridors Duterte for signing into law. one of the amendments is AMLA provision as basis of power. Sitoy said the Bureau the inclusion of a provision to prosecute all Non- Sitoy was the personal of Immigration (BI) as basis to prosecute tax Government Organizations chaperone of Duterte in the SECRETARY ADELINO SITOY officials and employeesevaders. are If a Filipino brings (NGOs) or Non-Stock, 2016 presidential election considered frontliners in money with him amounting Non-Profit Corporationswhere they were denied last May 7, 2020 to dealing with foreign travel, P500,000 and above, and is registered with Securities mayor’s permit for rallies by Senate President Vicente incoming and outgoing. found to be untaxed, he can and Exchange Commission the former administration of Sotto III and House of On the other hand, the be prosecuted in court. (SEC) which are conduit to then Lapu-Lapu city Mayor Representatives Speaker Anti-Money Laundering Atty. Gary Maningo, international terrorism. Paz Radaza. Alan Peter Cayetano Act (AMLA) deals with head of the credit and loans In the past years, Sitoy said the President regarding the sentiment of huge money traffic frommanagement department Duterte was informed that ordered him to thoroughly the President. the Philippines to other of Bangko Sentral ng some NGOs or non-stock coordinate in fast tracking He told Sotto and countries, and from abroad Pilipinas (BSP) said that corporations were channels the amendments of the two Cayetano that the original to the Philippines. once countries like the to some terrorist groups that laws that involve foreign version of the House bill In the past, immigration United States completely advance terrorism in the investment, terrorism to amend the two laws was officials and employees who pullout investments from Philippines. money, among others. already disseminated to all rendered overtime service China, one of its choices is The immigration law In this connection, Cabinet members for their at the airport were paid by to transfer operations in should give the reasonable Sitoy sent separate letters comment and additional airline companies, while the Philippines. ELIAS O. compensation to officials regarding this matter provisions, if there are any. at the seaport, by foreign BAQUERO 2 May 11, 2020 - May 17, 2020 Cebu Business Week LOCAL Closure of ABS-CBN void from start THE order of the National cause order issued. There Telecommunications was also no hearing on the Commission (NTC) is void show-cause order so ABS- from the start even as a CBN can present its position, former Cabinet member of he explained. the Duterte administration Moreover, the NTC blames the House leadership. violated its own rules on “The CDO (cease and de- procedure, he said. sist order issued by the NTC) “In the process of denying simply does not have the ABS-CBN procedural due force of law,” said Atty. Rudy process with supersonic Salalima, the first secretary speed, the NTC, in issuing its of the Department of Infor- void CDO likewise seriously mation and Communication violated its own 2006 Rules Technology (DICT). of Practice and Procedure,” In a legal opinion he Salalima said. posted in his Facebook However, Salalima argued, account, Salalima, noted “the ultimate responsibility procedural lapses in the and fault lie on Congress, par- issuance of the order even ticularly the Leadership of the as the NTC is not the right House of Representatives.” body to decide on the lack of The application for a a franchise, but Congress. franchise was filed in 2016 Salalima noted that the yet. “But the leadership of NTC order was issued on May and filed on May 5th with the 2020,” Salalima pointed out. prior to May 5, 2020, if the House failed our country 5, 2020, which was the same NTC, then the CDO also dated If the Petition was dated any, because premature, and people,” he said. day the congressional franchise May 5, 2020 was clearly before May 5, 2020 or prior should have been dismissed “Non-action is the worst expired. There was no com- issued with precipitate haste to the expiration, there was outright,” he said. form of delay. Because it plaint filed against ABS-CBNand thus void given the still no cause of action and If there was a petition, leaves the aggrieved without on that same day on which the interval between the filingthus of “premature in law,” he the NTC failed to serve ABS- clear and speedy recourse,” NTC could have acted on. the Petition and the issuance pointed out. CBN a copy for the latter to Salalima said. EMMANUEL “If the Petition was dated of the CDO -- both May 5, “The Petition dated reply to. There was no show- MONGAYA Scammers riding Zero Covid case in Tuburan THERE is no single case He said that Tuburan Diamante said. of Covid-19 in Tuburan, has 15,696 households as The barangay captains on pandemic, Cebu and the people are of 2019, but DSWD listed are now having a problem. satisfied with the reliefonly 1,948 SAP household The problem is, DSWD goods they received from beneficiaries and most ofchose who to give assistance. warns SEC the administration of Mayor them have not yet received Tuburan has 54 THE Securities and WOC have not registered Danny Diamante. any help. barangays and the barangay Exchange Commission securities such as investment The local counterpart Diamante said DSWD captains are in a quandary (SEC) underscored the contracts nor secured the of the Inter-Agency Task 7 has disseminated false because one has 500 importance of exercising due necessary licenses to solicit Force (IATF) is efficientinformation in in its website households and DSWD has diligence before investing and take investments from setting up checkpoints at the because they made it appear only listed 30 families. to avoid falling into a the public, as required under boundaries of Tabuelan and that DSWD 7 has already He said that the scammer’s trap, as it named Republic Act No. 8799, or Asturias towns. given amelioration money to barangay captains were the four more groups engaging The Securities Regulation In an interview with 3,027 households of P6,000 ones who distributed relief in unauthorized investment- Code. Vice Mayor Democrito each. goods to their constituents taking activities. In this light, the SEC “Aljun” Diamante, the It’s sad to say that DSWD using their calamity funds. In separate advisories advised the public against mayor’s brother, he told 7 posted in its website that Even those who were not issued on May 7, the investing in Bayanihan Cebu Business Week that as of April 27, 2020, about voters in the barangays were Commission warned the Program, My Gold Rev, the people in the rural 3,027 households of Tuburan given. public against dealing Friend$hip and WOC, which areas have lesser problem received amelioration. Diamante said the with individuals or groups have not even registered as in terms of food than their “That is misinformation mayors in Local Government representing and promoting corporations or partnerships counterparts in the urban and dangerous because Units (LGUs) can use 70 the Bayanihan Program with the Commission. areas. the people of Tuburan may percent of their calamity of Billy Ford Andrada, My The public may report Diamante, however, said expect that DSWD 7 gave SAP fund. There is also the Gold Rev/ My Gold Rev unauthorized investment that the Social Amelioration in the amount equivalent to Bayanihan Law that mayors Philippines, Friend$hip/ solicitation activities to its Program (SAP) of the 3,027 households. Where is can use the 20 percent Friend$hip Philippines and Enforcement and Investor Department of Social the money now? The people development fund. LGUs World of Captcha (WOC). Protection Department Welfare and Development may think that the money is in urban areas are looking Bayanihan Program, My through email at epd@sec. (DSWD) is a big problem in in the hands of local officials for rice to buy because their Gold Rev, Friend$hip and gov.ph.
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