NO&T Asia Legal Review
On 20 February 2019, Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines (“Revised Code”) was signed into law and became effective on 23 February 2019.
The Revised Code repeals the nearly four-decade old B.P. Blg. 68 or the Corporation Code of the Philippines (“Old Code”) and adopts international best practices and standards to improve the ease of doing business in the Philippines. While all the salient amendments introduced by this “landmark legislation” cannot be covered by this article alone, among the significant changes introduced by the Revised Code are the following:
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