July 2019

Promoting Corporate Governance under the Revised Corporation Code — 2

Second of three parts–Under Sec 13, there is no more minimum number of directors or trustees. This has given rise to a frequently asked question — Does this removal now allow one-director boards for corporations other than one person corporations? And, is a one-trustee board likewise possible in a non-stock corporation?

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Amending the Public Service Law: Distinguishing Public Utilities from Public Services

Senate Bill No. 1441 seeks to amend the Public Service Act to differentiate a “public service” from a “public utility,” thereby lifting the nationality restriction on the areas of power generation and supply, transportation, broadcasting, and telecommunication, among others.

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