The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
REVIVAL OF EXPIRED CORPORATION
The Corporation Code initially provides that a corporation shall exist for a period not exceeding fifty (50) years from the date of incorporation. Failure to extend the term would mean expiration of the corporation.
However, Republic Act No. 11232, or the Revised Corporation Code of the Philippines (“RCC”), made amendments to the corporation’s term. A corporation shall now have perpetual existence unless its articles of incorporation provides otherwise. The Revised Corporation Code also included provisions for the revival of an expired corporation.
THE THIRD DOCTOR RULE
The Omnibus Rules and Regulations Implementing Migrant Workers Act defines Overseas Filipino Worker (OFW) as a person who is to be engaged, is engaged or has been engaged in a remunerated activity in a State of which he or she is not a citizen or on board a vessel navigating the foreign seas other than a government ship used for military or non-commercial purposes or on an installation located offshore or on the high seas. There are two classifications of OFWs, they are the following:
- Land-Based – contract workers engaged in offshore activities whose occupation requires that majority of his working/gainful hours are spent on land; and
- Sea-Based – those employed in a vessel engaged in maritime navigation. These are the seamen, or seafarers.
WHAT IS DELINQUENT SHARE?
Before a share in a stock corporation may be considered delinquent, the same must first be correlated with the pertinent provisions of the Revised Corporation Code (RCC) regarding the payment of balance of subscription (Section 66, RCC) and Delinquency Sale (Section 67, RCC).
Can Employees Be Compelled To Render Overtime Work?
What is overtime work?
Overtime work is the service rendered in excess of and in addition to eight hours on ordinary working days, which are the prescribed daily work period.
Can Employees Be Compelled To Render Overtime Work?
Generally, no employee may be compelled to render overtime work against his will because it will constitute involuntary servitude.
However, an employee may be compelled to render an emergency overtime work.
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