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
IS “NO VACCINE, NO WORK POLICY” ALLOWED?
Establishments shall adopt and implement the appropriate vaccination policy in the workplace
Establishments may procure COVID-19 vaccines, supplies, and other services
No cost of vaccination in the workplace shall be charged against to the employees
AUTHORITY TO INQUIRE INTO BANK DEPOSITS UNDER ANTI-MONEY LAUNDERING ACT
Anti-Money Laundering Council (AMLC) may inquire into or examine any particular deposit or investment with any banking institution or non-bank financial.
The Anti-Money Laundering Council must have an order from a competent court before it can inquire into or examine any particular deposit or investment with any banking institution or non-bank financial court in cases of violation of Anti-Money Laundering Act.
Anti-Money Laundering Council’s (AMLC) inquiry into or examination of any particular deposit or investment does not violate the provisions of Republic Act No. 1405 (The Bank Secrecy Law), as amended; Republic Act No. 6426 (Foreign Currency Deposit Act of the Philippines), as amended; and Republic Act No. 8791 (The General Banking Law of 2000).
WORST FORMS OF CHILD LABOR
No child shall be engaged in any of the worst forms of child labor
No child shall be deprived of formal or non-formal education
The employer shall provide a working child with access to at least primary and secondary education
WHEN NONPAYMENT OF THE UNPAID PURCHASE PRICE IS JUSTIFIED
In case of breach of warranty, the buyer may withdraw from the contract of sale
The buyer may also ask for reduction of the price
A seller may lose his right to collect the unpaid balance of the purchase price