CONCEPT OF INCONTESTABILITY CLAUSE UNDER LIFE INSURANCE

• Generally, a contract may be invalidated if the consent by one party was obtained by mistake or fraud

• The incontestability clause in the Insurance Code is an exception

• A life insurance policy is incontestable after two (2) years from the date of issuance

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ARE ADMISSION FEES FOR RESORTS SUBJECT TO AMUSEMENT TAX?

• Earnings derived by any person engaged in the sale of services is subject to percentage tax

• An amusement tax is a form of percentage tax

• Resorts, swimming pools, bath houses, hot springs, and tourist spots are not subject to amusement taxes

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DESIGNATION OF DATA PROTECTION OFFICERS

• Data Protection Officers shall be accountable for ensuring the compliance by the Personal Information Controllers (PIC) or Personal Information Processors (PIP) with the Data Privacy Act (DPA), its Implementing Rules and Regulations (IRR), issuances by the National Privacy Commission (NPC), and other applicable laws and regulations relating to privacy and data protection.

• The Data Protection Officers should be a full-time or organic employee of the Personal Information Controllers or Personal Information Processors.

• A Data Protection Officers must be independent in the performance of his or her functions, and should be accorded a significant degree of autonomy by the Personal Information Controllers or Personal Information Processors.

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ON FREEZING MONETARY INSTRUMENT OR PROPERTY

• A Freeze Order may be issued against any monetary instrument or property

• The Freeze Order shall be effective immediately and shall be for a period of twenty (20) days unless extended

• A Freeze Order cannot be issued for an indefinite period of time

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