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
REVISED GUIDELINES ON THE ENGAGEMENT OF CHILDREN 15 TO BELOW 18 YEARS OF AGE IN PUBLIC ENTERTAINMENT DURING COMMUNITY QUARANTINE
- A child 15 to below 18 years of age may be allowed to participate on-cam in studio or location shoots for public entertainment or information during community quarantine.
- A child 15 to below 18 years of age who is allowed to participate in an on-cam cam in studio or location shoots for public entertainment or information must follow the minimum public health standards as prescribed by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases, Department of Health, Department of Labor and Employment, Department of Trade and Industry and other government agencies.
- The child has the right to refuse work.
ON COVERED TRANSACTIONS UNDER ANTI-MONEY LAUNDERING ACT
A transaction in cash or other equivalent monetary instrument may be the subject of an investigation
Said transaction must involve a total amount in excess of Five Hundred Thousand Pesos (Php 500,000.00) within one (1) banking day
However, if the transaction is suspicious, it may still be subjected to an investigation regardless of the amount involved
ON COVERED INSTITUTIONS UNDER ANTI-MONEY LAUNDERING ACT
Banks, insurance companies, brokers, and salesmen are covered institutions
Covered institutions are required to establish and record the true identity of its clients based on official documents
Covered institutions shall report all covered transactions within five (5) working days from occurrence
ON SERVICE CHARGES COLLECTED BY HOTELS AND RESTAURANTS AND OTHER SIMILAR ESTABLISHMENTS
Hotels and other similar establishments may collect Service Charges
Service Charges shall be distributed completely and equally among employees
Service Charges paid to the employee is not part of the salary