Republic Act No. 8188 imposes strict fines and potential imprisonment for businesses failing to pay prescribed wage increases.
What is the penalty for a business that fails to pay prescribed wage increases? Read More »
Penalty for usurping legislative powers includes prision correccional and a fine up to P200,000.
What is the consequence if a corporation refuses or obstructs the SEC’s exercise of its visitorial powers? If a corporation, without justifiable cause, refuses or obstructs the SEC’s exercise of its visitorial powers, the SEC may impose severe sanctions (SEC. 178, Revised Corporation Code of the Philippines). Specifically, the SEC may revoke the corporation’s certificate
How is the interest rate determined for unpaid subscriptions, and what is the penalty for failure to pay the subscription balance when due? Subscribers are liable to the corporation for interest on all unpaid subscriptions from the date of subscription, provided this interest is stipulated in the subscription contract (SEC. 65, Revised Corporation Code of
