Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

THIRTEENTH CONGRESS
First Regular Session

70

HOUSE BILL NO.

Introduced by: REP. RAUL V. DEL MAR.

EXPLANATORY NOTE

There is no gainsaying the vital role of the real estate industry in the economic
development of the country. A real estate transaction has a multiplier on the country’s
economy.

It is a sad commentary on the degree of attention and importance that government
has accorded the real industry and its tremendous impact on the economy that to date, it
continues to be govemed by hodgepodge administrative issuances of governmental
agencies and just a sprinkling of legislative enactments, No effort has been exerted thus
far to enact a comprehensive legislation to govern real estate transactions and the practice
attendant thereto,

As consequence, the public has fallen victim to unwholesome, if not altogether
anomalous, practices in real estate transactions. Unscrupulous parties involved in these
practices have gone unpunished mainly because of the dearth of effective legislation.

‘To safeguard public interest, there is a need to enact a comprehensive piece of
legislation calculated to accord the real estate industry the due recognition that it deserves
as a vital component in national development and at the same time upgrade and
professionalize the real service practice in the country.

‘The attached bill hopes to meet such a need.

The attached bill is a consolidation of the provisions of existing executive
issuances — Ministry Order No. 39. series of 1985, and subsequent issuances — and of
House Bill No. 8585 which the House passed during the Second Regular Session of the
Tenth Congress but which the Senate failed to act upon, and of Senate Bill No. 792 which
also remained pending until the end of the term of the Eleventh Congress.

Principally, the attached bill elevates the real estate service practice that is real
estate brokerage, appraisal and consultancy, to the category of a profession, and places
these realty service practitioners under the jurisdiction of the Professional Regulatory
Commission.


In addition to existing rules governing the examination, registration and licensing
of realty service practitioners, the attached bill provides for the integration of all realty
service practitioners into one national organization.

To deter unlicensed practice, the bill provides for stiffer penalties.

Passage of the attached bill is, therefore, eamestly requested.


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

THIRTEENTH CONGRESS
First Regular Session

70

HOUSE BILL NO.

Introduced by : REP. RAUL V. DEL MAR

AN ACT
REGULATING THE PRACTICE OF REAL ESTATE SERVICE IN THE
PHILIPPINES, CREATING FOR THE PURPOSE A PROFESSIONAL
REGULATORY BOARD OF REAL ESTATE SERVICE, APPROPRIATING
FUNDS THEREFOR AND FOR OTHER PURPOSES

Be it enacted by the Senate and House of Representatives of the Philippines in Congress
assembled:
ARTICLE I

TITLE, DECLARATION OF POLICY AND DEFINITION OF TERMS

SECTION 1. Title. - This Act shall be known as the “Real Estate Service
Act of the Philippines.”

Sec, 2. Declaration of Policy. - The State recognizes the vital role of real estate
service practitioners in the social, political, economic development and progress of the
country. Real estate services shall therefore be professionalized, upgraded and regulated
to become more globally qualitative and competitive.

SEC. 3. Definition of Terms. As used in this Act, the following terms shall mean:

(a) “Real estate” refers to the land, building or other improvements permanently
attached to the land, including the rights and interest therein. It shall include rural and
urban land, and the development thereof which may be residential, commercial,
industrial, agricultural, aquacultural, land reclamation, building or housing projects either
for individual or condominium ownership, memorial parks, town houses, club houses,
and others of similar nature.

(b) “Real estate development project” means the development of land for
residential, commercial, industrial, agricultural, institutional or recreational purposes, or
any combination of such, including but not limited to tourist resorts, reclamation


Projects, building or housing projects whether for individual or condominium ownership,
memorial parks, and others of similar nature.

(c) “Real estate service practitioners” shall refer to and consist of the following:

(1) Real estate broker - a duly licensed natural person who, for a fee, commission
or other valuable consideration, acts as an agent of a party in a real estate transaction to
offer, advertise, solicit, list, promote, mediate, negotiate, or effect the meeting of the
minds on the sale, purchase, exchange, mortgage, lease, or joint venture or other similar
‘transactions on real estate or any interest therein.

(2) Real estate appraiser - a duly licensed natural person who, in expectation of a
fee, compensation or other valuable consideration, offers or renders services in estimating
and arriving at an opinion of or act as an expert on real estate values, such services of
which shall be finally rendered by the preparation of the report in acceptable written
form.

(3) Real estate consultant - a duly licensed natural person who, for a fee,
compensation or other valuable consideration, offers or renders professional advise and
Judgment on: (a) the acquisition, enhancement, preservation, utilization or disposition of
lands or improvements thereon: and (b) the conception, planning, management, and
development of realty projects.

(4) Real estate salesperson — a natural person who performs for and in behalf of a
real estate broker who is registered/licensed by the Professional Regulatory Board of Real
Estate Service.

ARTICLE
PROFESSIONAL REGULATORY BOARD OF REAL ESTATE SERVICE

SEC. 4. Creation and Composition of the Board. - There is hereby created a
Professional Regulatory Board of Real Estate Service, hereinafter referred to as the
Board, under the supervision and administrative control of the Professional Regulation
Commission, hereinafter referred to as the Commission, composed of a chairperson and
two (2) members who shall be appointed by the President of the Philippines from a list of
three (3) recommendees for each position, chosen and ranked by the Commission from a
list of five (5) nominees for each position submitted by the accredited and integrated
professional organization of real estate service practitioners.

‘The first Board shall be organized within thirty (30) days from the effectivity of
this Act.


SEC. 5. Powers and Functions of the Board. ~ The Board is hereby vested the
following powers and functions:

(a) Provide comprehensive policy guidelines for the promotion and development of
the real estate industry;

(b) Promulgate, administer and enforce rules and regulations necessary for carrying
out the provisions of this Act;

(c) Supervise and regulate the registration, licensure and practice of real estate
service in the Philippines;

(a) Administer oaths in affirmations;

(©) Adopt an official seal of the Board;

(f) Issue, reinstate, suspend or revoke after due notice and hearing certificate of
registration/professional license or professional identification card for the practice of the
real estate service;

(g) Monitor the conditions affecting the practice of real estate service and adopt
such measures as may be proper for the enhancement of the profession and/or the
maintenance of high professional, ethical and technical standards;

(h) Draw up recommendations to government agencies or departments concerned
for the purpose of rationalizing and coordinating real estate transactions;

(i) Prescribe and/or adopt a code of ethics for the practice of the real estate service;

() Hear or investigate any violation of this Act, implementing rules and
regulations, and the code of ethics for real estate service practitioners as shall come to the
knowledge of the Board and for this purpose, to issue subpoena and subpoena duces
tecum to secure the appearance of witnesses and the production of documents in
connection therewith;

(&) In coordination with the accredited and integrated professional organization of
real estate practitioners, monitor all forms of advertisements, announcements, signboards,
billboards, pamphlets, brochures and others of similar nature concerning real estate and
provide every possible safeguard to protect legitimate and licensed real estate service
practitioners and in pursuance thereof, exercise its judicial and police powers to finally
and completely eradicate the pernicious practices of unauthorized and unlicensed
individuals or “colorums” engaged in real estate service;

(1) Prescribe guidelines and criteria for the Continuing Professional Education
(CPE) program for real estate service practitioners after consultation with the accredited
and integrated professional organization of real estate service practitioners, and prescribe


policies necessary for upgrading, enhancement, development and growth of real estate
education in the Philippines;

(m) Screen, issue and monitor permits to organizations of real estate professionals
in the industry to conduct seminars and to accredit such seminars, as well as the
instructors or lecturers therein for the purpose of upgrading the quality and knowledge of
the profession;

(n) Conduct examinations as prerequisite to the practice of the profession and issue,
adopt and prepare syllabi of the subjects for examination by determining and preparing
the questions which shall strictly be within the scope of the syllabus of the subject for
‘examination;

(0) Monitor the activities of the accredited and integrated professional organization
and other associations of real estate service practitioners; and

(n) Discharge such other powers, duties and functions as the Commission may
deem necessary to carry out the provisions of this Act.

The policies, resolutions, and rules and regulations issued or promulgated by the
Board shall be subject to the review and approval by the Commission. However, the
Board’s decisions, resolutions or orders which are not interlocutory, rendered in an
administrative case, shall be subject to review by the Commission only if on appeal.

SEC. 6. Qualification of the Chairperson and Members of the Board. - The
chairperson and members of the Board shall, at the time of their appointment, possess the
following qualifications:

(a) Must be a citizens and resident of the Philippines;

(b) Must be a holder of at least a bachelor’s degree;

(c) Must be an active licensed practitioner of the real estate service, either as real
estate broker, appraiser or consultant for at least ten (10) years prior to his/her
appointment;

(@) Must be a bonafide member of the accredited and integrated professional
organization of real estate service practitioners but not an officers at the time of his/her
appointment;

(e) Must neither be a member of the faculty of an institute, school or college of
real estate service nor have any pecuniary interest, direct or indirect, in any institution or
association where review classes or lectures in preparation for the licensure examination
are being offered or conducted; and


(£) Must be of good moral character and must not have been convicted by final
judgment by a competent court of a criminal offense involving moral turpitude.

SEC. 7. Term of Office. - The chairperson and members of the Board shall hold
office for a term of three (3) years from the date of their appointment and until their
successor/s shall have been appointed and duly qualified: Provided, That members of the
first appointed Board shall hold office for the following terms: one (1) member as
chairperson for three (3) years, one (1) member for two (2) years and one (1) member for
one (1) year.

‘The chairperson and members of the Board may be reappointed for another term
but in no case shall he/she serve continuously for more than six (6) years. Any vacancy
in the Board shall be filled for the unexpired portion of the term only. The chairperson
and members of the first Board shall automatically be registered and issued with a
certificate of registration/professional license and professional identification card.

Each member of the Board shall take the proper oath of office prior to the
assumption of duty.

SEC. 8. Compensation and Allowances of the Chairperson and Members of the
Board, - The chairperson and members of the Board shall receive compensation and
allowances comparable to the compensation and allowances received by the chairperson
and members of existing professional regulatory boards under the Commission es
provided for in the General Appropriations Act,

SEC. 9. Removal of the Chairperson and Members of the Board. - The
chairperson or any member of the Board may be suspended or removed by the President
of the Philippines upon recommendation of the Commission for neglect of duty, abuse of
power, oppression, incompetence, unprofessional, unethical, immoral or dishonorable
conduct, commission or toleration of irregularities in the conduct of examination or
tampering of the grades therein, or for any final judgment or conviction of any criminal
offense involving moral turpitude by the court after having been given the opportunity to
defend himself/herself in a proper administrative investigation.

SEC. 10. Supervision of the Board, Custodian of its Records, Secretariat and
Support Services. - The Board shall be under the general supervision and administrative
control of the Commission. All records of the Board, including applications for
examination, examination papers and results, minutes of deliberations, administrative and
other investigate cases involving real estate service practitioners, shall be kept by the
Commission. The Commission shall designate the secretary of the Board and shall


Provide the secretariat and other support services to implement the provisions of this Act
subject to the usual government accounting and auditing rules and regulations.

SEC. 11. Annual Report. — The Board shall, at the close of each calendar year,
submit an annual report to the Commission, giving a detailed account of its proceedings
and accomplishments during the year and recommending measures to be adopted with the
end-in-view of upgrading and improving the conditions affecting the practice of real
estate service in the Philippines.

ARTICLE I
LICENSURE EXAMINATION AND REGISTRATION

SEC. 12. Licensure Examination, - Every applicant seeking to be registered and
licensed as a real estate service practitioner, except a real estate salesperson, shall
undergo an examination as provided for in this Act. Examinations for the practice of real
estate service in the Philippines shall be given by the Board at least once every year in
such places and dates as the Commission may designate.

Sec, 13. Scope of Examination. - An examination shall be given to the licensure
applicants for real estate brokers, real estate appraisers and real estate consultants, which
shalt include but not limited to the following:

(a) For real estate brokers — Fundamentals of property ownership; legal
requirements for real estate practice; real estate brokerage practice; practical appraisal for
teal estate broker; site location and map reading; subdivision development; condominium
concept; real estate financing; taxation; economics; basic principles of ecology; urban
and rural land use; planning, development and zoning; legal aspect of sale, mortgage,
lease, documentation and registration; agrarian and urban reform laws; code of ethics;
and any other related subjects as may be determined by the Board.

(b) For real estate appraisers — General real estate information; theories and
principles in appraisal; human and physical geography; methodology of appraisal
approaches and research; practical appraisal mathematics; appraisal report writing; laws
affecting real estate appraisal; income and investment problems; appraisals of
machineries and equipment; case studies; agrarian and urban land reform laws; code of
ethics; and any other related subjects as may be determined by the Board.

(©) For real estate consultants - Pre-investment/feasibility studies; design; process
innovation; construction/installation and other technical services on special studies;
agrarian and urban land reform laws; code of ethics; and any other related subjects as
may be determined by the Board.


To conform with technological and modem changes, the Board may recluster,
rearrange, modify, add or exclude any of the foregoing subjects as the need arises.

SEC. 15. Qualifications of Applicants for Examinations. - In order to be
admitted to the licensure examination for real estate service, a candidate shall, at the time
of filing his application, establish to the satisfaction of the Board that:

(a) He is a citizen of the Philippines;

(b) He is at least be eighteen (18) years of age;

(©) He is a holder of a bachelor’s degree from a school, university or institution
duly recognized by the Commission on Higher Education (CHED);

(d) He has attended and completed an appropriate real estate seminar given by
accredited entities; and

(c) He is of good moral character and must have been convicted of any crime
involving moral turpitude: Provided, That an applicant for the licensure examination for
real estate appraisers must show proof that he has at least five (5) years experience as a
licensed real estate broker, or as an assessor, or as bank or institutional appraiser, or an
employed person performing real property valuation: Provided, further, That an
applicant for the licensure examination for real estate consultants must show proof that he
has at least ten (10) years experience as a licensed real estate broker or at least five (5)
years experience as a licensed real estate appraiser.

All applicants for examination shall be filed with the Board which shall assess
and approve the said applications and issue to the qualified examinees the corresponding
permit to take such examination.

SEC. 15. Ratings in the Examination. - In order that a candidate may be
deemed to have successfully passed the examination, he must have obtained an average
of at least seventy-five percent (75%) in all subjects, with no rating below fifty percent
(50%) in any subject.

SEC. 16, Release of the Results of Examination. - The results of the licensure
examination shall be released by the Board within ten (10) days from the last day of the
‘examination.

SEC. 18, Issuance of the Certificate of Registratton/Professional License and
Professional Identification Card. — A certificate of registration/professional license shall
be issued to examinees who pass the licensure examination for real estate service subject
to payment of fees prescribed by the Commission. The certificate of


registration/professional license shall bear the signature of the chairperson of the
‘Commission and the chairperson and members of the Board, stamped with the official
seal of the Commission, indicating that the person named therein is entitled to practice
the profession with all the benefits and privileges appurtenant thereto. This certificate of
registration/professional license shall remain in full force and effect until revoked or
suspended in accordance with this Act.

A professional identification card bearing the registration number, date of issuance,
expiry date, duly signed by the chairperson of the Commission, shall likewise be issued
to every registrant upon payment of the required fees. This professional identification
card shall be renewed every three (3) years and upon satisfying the requirements of the
Board, such as but not limited to attendance in the Continuing Professional Education
(CPE) program.

SEC. 18. Refusal to Register. - The Board shall not register and issue a certificate
of registration/professional license to any successful examinee who has been convicted
by a court of competent jurisdiction of any criminal offense involving moral turpitude or
has been found guilty of immoral or dishonorable conduct after investigation by the
Board, or has been declared to be of unsound mind. The reason for the refusal shall be
set forth in writing.

SEC. 19. Revocation or Suspension of the Certificate of
Registration/Professional License and Professional Identification Card. — The Board
may, after giving proper notice and hearing to the party concemed, revoke the certificate
of registration/professional license and professional identification card of a real estate
service practitioner or suspend him/her from the practice of the profession for any
unprofessional or unethical conduct, malpractice, or violation of any of the provisions of
this Act, its implementing rules and regulations, and the code of ethics for real estate
service practitioners.

SEC. 20. Registration Without Examination. — Upon application and payment
of the required fees, those who, on the date of the effectivity of this Act, are already
licensed as real estate broker, real estate appraiser, or real estate consultant by the Bureau
of Domestic Trade by virtue of Ministry Order No. 39, as amended, shall be registered
and issued by the Board and the Commission a certificate of registration/professional
license and professional identification card without taking the prescribed examinations:
Provided, That they shall file their application within two (2) years from the effectivity of


this Act: Provided further, That the renewal of the professional identification card is
subject to the provisions of Section 17 hereof.

SEC. 21. Reinstatement, Reissuance or Replacement of Certificate of
Registration/Professional License and Professional Identification Card, - The Board
may, upon application and for reasons deemed proper and sufficient, reinstate any
revoked certificate of registration/professional license and reissue a suspended
professional identification card, and in so doing it may, in its discretion, exempt the
applicant from taking another examination.

A new certificate of registration/professional license or professional identification
card may be issued to replace lost, destroyed or mutilated ones subject to rules as may be
promulgated by the Board.

SEC. 22. Roster of Real Estate Service Practitioners. — The Board shall prepare,
update and maintain a roster of real estate service practitioners which shall contain the
names of all registered real estate service practitioners, their residence and office
addresses, dates of registration or issuance of certificates, and other data which the Board
may deem pertinent.

The roster shall be open to the public, copies of which shall be sent to each real
estate service practitioner listed therein.

SEC. 23. Issuance of Special or Temporary Permit. - Upon application and
payment of the required fees, and subject to the approval of the Commission, the Board
may issue special or temporary permit to real estate service practitioners for the purpose
of promoting or enhancing the practice of the profession in the Philippines.

SEC. 24, Foreign Reciprocity. — No foreign real estate service practitioner shall
be admitted to the licensure examination or be given a certificate of
registration/professional license or professional identification card or be entitled to any of
the privileges under this Act unless the country of which he/she is a citizen specifically
allows Filipino real estate service practitioners to practice within its territorial limits on
the same basis as the citizens of such foreign country.

ARTICLE IV
PRACTICE OF REAL ESTATE SERVICE

SEC. 25. Oath. - All successful examinees qualified for registration and all
qualified applicants for registration without examination as well as licensed salespersons
shall be required to take an oath of profession before any member of the Board or any


government official authorized by the Commission to administer oaths prior to entering
into the practice of real estate service in the Philippines.

SEC. 26. Acts Constituting the Practice of Real Estate Service.- Any single act
or transaction embraced within the provisions of Section 3 hereof shall constitute an act
of engaging in the practice of real estate service.

SEC. 27. Exemptions from the Acts Constituting the Practice of Real Estate
Service. - The provisions of this Act and its rules and regulations shall not apply to the
following:

(a) Any person, natural or juridical, who shall directly perform by himself the acts
mentioned in Section 3 hereof with reference to his or its own property;

(b) Any receiver, trustee or assignee in bankruptcy or insolvency proceedings;

(©) Any person acting pursuant to the order of any court of justice;

(d) Public officers while performing their official duties; and

(©) Any person who is duly constituted attomey in fact for purposes of sale,
mortgage, lease or exchange or other similar contracts of real estate.

SEC. 28. Prohibition Against the Unauthorized Practice of Real Estate Service.
~ No person shall practice or offer to practice real estate service in the Philippines or
offer himself/herself as real estate service practitioner, or use the title, word, letter, figure,
or any sign tending to convey the impression that one is a real estate service practitioner,
or advertise or indicate in any manner whatsoever that one is qualified to practice the
profession unless he/she has satisfactorily passed the licensure examination given by the
Board, except as otherwise provided in this Act, and is a holder of a valid certificate of
registration/professional license and professional identification card or a valid
special/temporary permit duly issued to him/her by the Board and the Commission.

SEC. 29. Custody and Supervision of Real Estate Salespersons. — A real estate
salesperson shall be under the custody and direct supervision of a real estate broker. As
such, he/she cannot by himself/herself be a signatory to a written agreement involving a
real estate transaction unless the real estate broker who has custody and direct
supervision over hinvher is also s signatory thereto. No real estate salesperson can
negotiate, mediate or transact any real estate transaction for and in behalf of a real estate
broker without first securing an authorized permit as real estate salesperson for the real
estate broker and/or company he is working for as prescribed by the Board. A real estate
broker shall be guilty of violating this Act for employing or utilizing the services of a real


estate salesperson who has not secured the required professional license prior to such
employment,

SEC. 30. Corporate Practice of the Real Estate Service. -

(a) No partnership or corporation shall engage in real estate service practice
unless it is duly licensed by the Board and registered with the Securities and Exchange
Commission (SEC), and the persons authorized to act for the partnership or corporation
are all duly licensed as brokers, appraisers or consultants, as the case may be. The
partnership or corporation shall regularly submit a list of its real estate service
practitioners to the Commission and to the SEC as part of its annual reportorial
requirements.

(b) Divisions or departments of corporations and partnerships engaged in
marketing or selling any real estate development project in the regular course of business
must be a full-time licensed real estate broker.

In case of resignation or termination from employment of a real estate service
practitioner, the same shall be reported by the employer to the Board within a period not
to exceed fifteen (15) days from the date of effectivity of the resignation or termination,

Subject to the provisions of the Labor Code, a corporation or partnership may hire
the services of licensed real estate brokers, appraisers or consultants on commission basis
to perform real estate services and the latter shall be deemed independent contractors and
not employees of such corporation or partnership.

SEC. 31. Display of License in the Place of Business, - Every licensed real
estate service practitioner shall establish and maintain a principal place of business and
such other branch offices as may be necessary and shall conspicuousty display therein the
original and/or certified true copies of his/her certificate of registration/professional
license as well as the licenses of all real estate service practitioners employed in such
office.

SEC. 32. Accreditation and Integration of Real Estate Service Practitioners. -
All real estate service practitioners shall be integrated into one national organization,
which shall be recognized by the Board as the one and only accredited and integrated
professional organization of real estate service practitioners. A real estate service
practitioner duly registered with the Board shall automatically become a member of the
accredited and integrated professional organization of real estate service practitioners and
shall receive the benefits and privileges appurtenant thereto. Membership in the


accredited and integrated professional organization of real estate service practitioners
shall not be a bar to membership in other associations of real estate service practitioners.

SEC. 33. Code of Ethics for Real Estate Service Practitioners. — The Board
shall adopt and promulgate the Code of Ethics for Real Estate Service Practitioners which
shall be prescribed and issued by the accredited and integrated professional organization
of real estate service practitioners.

SEC. 34. Continuing Professional Education (CPE) Program. - The CPE
guidelines shall be prescribed and promulgated by the Board upon consultation with the
accredited and integrated professional organization of real estate service practitioners,
and other concerned sectors, and in accordance with such policies as may have been
prescribed in coordination with the CHED. The Board shall create a CPE Council that
shall be composed of policies as may have been prescribed in coordination with the
CHED. The Board shall create a CPE Council that shall be composed of a chairperson
coming from the Board, a member from the accredited and integrated professional
organization of real estate service practitioners and a member from the academe.

ARTICLE V
PENAL AND FINAL PROVISIONS

SEC. 35. Penal Provisions. - Any violation of this Act, including violations of
implementing rules and regulations, shall be meted the penalty of a fine of not less than
One hundred thousand pesos (P100,000.00), or imprisonment of not less than two (2)
years, or both such fine and imprisonment upon the discretion of the court. In case the
violation is committed by unlicensed realty service practitioners, the penalty shall be
double the aforesaid fine and imprisonment.

In case the violation is committed by a partnership, corporation, association or
any other juridical person, the partner, president, director or manager who has committed
or consented to or knowingly tolerated such violation shall be held directly liable and
responsible for the acts as principal or as a or as a co-principal with the other participants,
if any.

In case the offender is a government official or employee, he/she shall, in addition
to the above penalties, be deemed automatically dismissed from office and permanently
disqualified from holding any elective or appointive position.

SEC. 36. Appropriations. — The chairperson of the Professional Regulation
Commission (PRC) shall immediately include in the Commission's programs the


implementation of this Act, the funding of which shall be included in the annual General
Appropriations Act and thereafter.

SEC. 37. Transitory Provision. — Within ninety (90) days after the effectivity of
this Act, the Department of Trade and Industry (DTI) shall transfer all pertinent records,
documents and other materials to the Professional Regulatory Board of Real Estate
Service.

SEC. 38. Implementing Rules and Regulations. ~ Within ninety (90) days after
the effectivity of this Act, the Commission, together with the Board, the accredited and
integrated professional association of real estate service practitioners, and the CHED
shall prepare the necessary rules and regulations, including the code of ethics for real
estate service practitioners, needed to implement the provisions of this Act.

SEC. 39. Separability Clause. — If any clause, sentence, paragraph or part of this
Act’ shall be declared unconstitutional or invalid, such judgment shall not affect,
invalidate or impair any other part of this Act.

SEC. 40, Repealing Clause. — All laws, decrees, executive orders, memorandum
orders, and other administrative issuances and parts thereof which are inconsistent with
the provisions of this Act are hereby modified, superseded or repealed accordingly.

SEC. 41. Effectivity. - This Act shall take effect fifteen (15) days following its
publication in the Official Gazette or in a major daily newspaper of general circulation in
the Philippines.

Approved,