• A corporation is empowered to exercise any act which is in direct and immediate furtherance of its business.

• No corporation shall possess or exercise corporate powers other than those conferred by the Revised Corporation Code of the Philippines or its Articles of Incorporation.

• A corporation can perform acts as long as it is not prohibited by general law and not contrary to morals and public policy.

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• The Covered “institutions” was changed to covered “persons.”

• Covered persons are natural or juridical.

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• An investment contract means a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits primarily from the efforts of others.

• An investment contract is presumed to exist whenever a person seeks to use the money or property of others on the promise of profits.

• A common enterprise is deemed created when two (2) or more investors pool their resources.

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• The Anti-Money Laundering Council (AMLC) is the agency of the Government of the Philippines that is tasked to implement the provisions of Republic Act No. 9160, also known as the “Anti-Money Laundering Act of 2001” (AMLA), as amended.

• Money laundering is a crime whereby the proceeds of an unlawful activity are transacted, thereby making them appear to have originated from legitimate sources.

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