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
BULLYING UNDER ANTI-BULLYING ACT OF 2013
Student refers to a person who attends classes in any level of basic education
Bully refers to any student who committed acts of bullying
Bullied or victim refers to any student who experiences the acts of bullying or retaliation
PREVENTION OF MONEY LAUNDERING
Covered institutions shall establish and record the true identity of its clients based on official documents.
All records of all transactions of covered institutions shall be maintained and safely stored for five (5) years from the dates of transactions.
Covered persons shall report to the Anti- Money Laundering Council (AMLC) all covered transactions and suspicious transactions within five (5) working days from occurrence thereof.
ON MINORS REPRESENTING THEIR GENERATION AND GENERATIONS YET UNBORN IN FILING AN ENVIRONMENTAL CASE
Filipinos have a right to a balanced and healthful ecology
Every generation has a responsibility to the next to preserve the rhythm and harmony of nature for the full enjoyment of a balanced and healthful ecology
Minors can represent their generation or generations yet unborn in filing a case
WHAT ARE MONEY LAUNDERING OFFENSES?
Money laundering may be committed by any person who, knowing that any monetary instrument or property represents, involves, or relates to the proceeds of any unlawful activity transacts said monetary instrument or property.
Money laundering may also be committed by any covered person who, knowing that a covered or suspicious transaction is required under the Act to be reported to the Anti-Money Laundering Council (AMLC), fails to do so.
The term ‘covered persons’ excludes lawyers and accountants acting as independent legal professionals in relation to information concerning their clients.