EIGHTEENTH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
S E N A T E
S. B. No. 820
Introduced by Senator SONNY ANGARA
T9 
JUL 30 A9 T1
RECo-.. J .
AN ACT
IN STITU TIO N ALIZIN G  THE 
POVERTY 
REDUCTION THROUGH 
SOCIAL 
ENTREPRENEURSHIP (PRESENT) PROGRAM AND PROMOTING SOCIAL 
ENTERPRISES W ITH THE POOR AS PRIMARY STAKEHOLDERS
EXPLANATORY NOTE
In the first six months of 2018, 21.0 percent of Filipinos, and roughly 16.1 
percent of families, were found to be living below the poverty line1. This translates to 
about 22.70 million Filipinos, considering a 2018 population of 108.1 million. Such 
national poverty incidence is practically unchanged from the 21.6 percent registered 
in 2015—although it is still a significant drop from the 27.9 percent measured in 2012, 
and the 28.6 percent and 28.8 percent registered in 2009 and 2006 respectively.
Clearly, poverty has been going down in the past decade, but it is not doing so 
in a magnitude and speed that would truly improve the lives of Filipinos throughout 
the country. 
Hence, there is a need to enhance government strategy in helping our 
countrymen rise.
This bill aims to involve various sectors of the society in the fight against 
poverty, and recognizes social enterprises as key players in poverty reduction. A Social 
Enterprise, as defined in the proposed bill, refers to a social mission-driven 
organization that conducts economic activities directly related to improving the well­
being of the poor and marginalized sectors. It explicitly declares and pursues poverty 
reduction as its principal objective.
Moreover, the bill aims to promote people's participation and empowerment; 
establish sustainable programs that reduce inequality in incomes and increase self-
1 https://psa.gov.ph/poverty-press-releases/nid/138411


reliance among the poor; and develop effective mechanisms for the provision of 
quality and accessible social services to the poor, among others.
In view of the foregoing, the passage of this bill is earnestly sought.
SONNY ANGARA


EIGHTEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session
i • 
t- T
S E N A T E
S. B. No. 820
'19 JLIL 30 A9:ll
Introduced by Senator SONNY ANGARA
P
AN ACT
INSTITU TIO N ALIZIN G  THE 
POVERTY 
REDUCTION THROUGH 
SOCIAL 
ENTREPRENEURSHIP (PRESENT) PROGRAM AND PROMOTING SOCIAL 
ENTERPRISES W ITH THE POOR AS PRIMARY STAKEHOLDERS
Be it enacted by the Senate and House o f Representatives o f the Philippines in 
Congress assembled:
1 
CHAPTER I
2 
GENERAL PROVISIONS
3 
Section 1. Short Title. -  This Act shall be known as the "Poverty Reduction
4 
Through Social Entrepreneurship (PRESENT) Act."
5 
Sec. 2. Declaration o f Policy. -  The State shall promote a just and dynamic
6 
social order that will ensure the prosperity and independence of the nation and free
7 
the people from poverty through policies that provide adequate social services,
8 
promote full employment, a rising standard of living, and an improved quality of life
9 
for all. The State shall provide social justice in all phases of national development and
10 
that the State values the dignity of every human person and guarantees full respect
11 
for human rights.
12 
The goals of the national economy are a more equitable distribution of
13 
opportunities, income, and wealth; a sustained increase in the amount of goods and
14 
services produced by the nation for the benefit of the people; and an expanding
15 
productivity as the key to raising the 
quality of life for all, especially the
16 
underprivileged. The State shall promote industrialization and full employment based
17 
on sound agricultural development and agrarian reform, through industries that make


1 
full and efficient use of human and natural resources, and which are competitive in
2 
both domestic and foreign markets.
3 
The State also recognizes the important role of enterprises in the economy as
4 
the major agent of development, creating off-farm employment opportunities and
5 
providing transitional means for improving the livelihood of the people.
6 
Towards this end, the State shall pursue an inclusive growth strategy that
7 
promotes an environment conducive to the development and growth of a vibrant social
8 
enterprise sector engaged in poverty reduction, economic and social development. It
9 
shall empower the poor as primary stakeholders in social enterprises, establish
10 
mechanisms essential to realizing their potential and achieving their full growth, and
11 
extend the assistance necessary for their advancement. The State shall likewise
12 
provide technical and financial assistance, incentives and other services to enable
13 
Social Enterprises to develop into viable and vital anti-poverty agents, and a strong
14 
social entrepreneurship movement that will be instrumental in reducing poverty in the
15 
country.
16 
Sec. 3. Definition o f Terms. -  The following terms when used in this Act shall
17 
mean:
18 
a) 
Social Enterprise or SE refers to a social mission-driven organization in the form
19 
of an association, single proprietorship, partnership, corporation, cooperative,
20 
peoples organization, non-stock non-profit and peoples organizations or any
21 
other legal form that conducts economic activities providing goods and/or
22 
services directly related to their primary mission of improving the well-being of
23 
the poor, basic and marginalized sectors and their living environment. A social
24 
enterprise explicitly declares and pursues poverty reduction as its principal
25 
objective by purposefully rendering both transactional and transformational
26 
services. An SE engages and invests in the poor to become effective workers,
27 
suppliers, clients and/or owners and ensures that a substantive part of the
28 
wealth created by the enterprise is distributed to or benefits them. In addition
29 
to reinvesting its surplus or profits back to the enterprise to sustain the
30 
fulfillment of its social mission, a SE also uses it surplus or profits and mobilizes
31 
other resources to assist the poor to become partners in SE or value chain


1 
management and governance and to become partners in community, sectoral
2 
and societal transformation.
3 
A single proprietorship, partnership or corporation must fulfill the
4 
eligibilities set forth in Section 14 to avail of the benefits and incentives under
5 
this Act.
6 
b) 
Government-Procuring Entity refers to any branch, department, office, agency,
7 
or instrumentality of the government, including state universities and colleges,
8 
government-owned and/or -controlled corporations, government financial
9 
institutions, and local government units procuring Goods, Consulting Services
10 
and Infrastructure 
Projects;
11 
c) 
Basic Sectors, as defined by Republic Act 8425 or the "Social Reform and
12 
Poverty Alleviation Act", refer to the disadvantaged sectors of Philippine society,
13 
namely: farmer-peasant, artisanal fisherfolk, workers in the formal sector and
14 
migrant workers, workers in the informal sector, indigenous peoples and
15 
cultural communities, women, persons with disabilities, senior citizens, victims
16 
of calamities and disasters, youth and students, children, and urban poor;
17 
d) 
Economic Subsectors refer to networks of related actors, and enterprises
18 
performing various functions in value chains. These actors and enterprises
19 
transform raw materials into finished products, or develop services, and
20 
distribute or provide them through market channels to final consumers; they
21 
may be identified by key raw material source, by finished product or final
22 
service provided. An economic subsector may be comprised of several
23 
competing value chains. By understanding the dynamics of economic
24 
subsectors and using them as units of planning social entrepreneurship
25 
interventions, government agencies, support institutions and SEs shall more
26 
effectively reach and benefit a greater number of poor in poverty reduction
27 
programs;
28 
e) 
Marginalized Sectors refer to groups of people who are stigmatized or excluded
29 
by virtue of their physical, psychological, economic, social or cultural
30 
circumstance;
31 
f) 
Poor, as defined by Republic Act 8425, refers to individuals and families whose
32 
income fall below the poverty threshold as defined by the National Economic


1 
and Development Authority and/or cannot afford in a sustained manner to
2 
provide their minimum basic needs of food, health, education, housing and
3 
other essential amenities of life;
4 
g) 
Poverty Reduction refers to overcoming the income, resource and capability
5 
deprivation among the poor, basic and marginalized sectors;
6 
h) 
Social Enterprise Service Institution refers to an organization that provides
7 
assistance to SEs for them to become viable and sustainable and which
8 
assistance pertains to supplying needs such as trainings, education and other
9 
capacity-building measures, research and development, and other similar
10 
activities;
11 
i) 
Transactional Services refer to enterprise or market-driven activities, such as
12 
providing loans, demonstrating new technologies or conducting trainings that
13 
are necessary for the poor in the SE system to effectively and efficiently perform
14 
their roles as workers, suppliers, clients and owners. Transactional services may
15 
be fee-based, such as the granting of loans, or non-fee based, such as the
16 
extension of production-related trainings;
17 
j) 
Transformative Services refer to activities that empower the poor, such as
18 
leadership formation, organizational development, financial and legal literacy,
19 
asset build-up and providing education and experiential learning opportunities,
20 
to become conscious change agents for themselves, for their communities,
21 
sectors and society as a whole;
22 
k) 
Value Chains refer to value-adding economic activities that an enterprise is
23 
interlinked with in the process of producing goods and/or services to serve its
24 
chosen market. A value chain typically consists of: 1) raw materials processing,
25 
2) inbound distribution or logistics, 3) manufacturing operations, 4) outbound
26 
distribution or logistics, 5) marketing and selling, and 6) after-sales service.
27 
These activities are supported by 6) purchasing or procurement, 7) research
28 
and development, 8) human resource development, and 9) organizational
29 
development. A SE that understands and manages its value chain improves its
30 
capability to create economic, environmental and social values towards
31 
improving the position and benefits of the poor in the value chain and towards
32 
ensuring the viability and sustainability of the enterprise; and


1 
I) 
Living Wage refers to the amount of family income needed to provide for the
2 
family's food and non-food expenditures with sufficient allowance for savings/
3 
investments for social security so as to enable the family to live and maintain a
4 
decent standard of human existence beyond mere subsistence level, taking into
5 
account all of the family's physiological, social and other needs.
6 
CHAPTER I I
7 
POVERTY REDUCTION THROUGH SOCIAL ENTERPRISES
8 
Sec. 4. Formulation o f a Poverty Reduction Through Social Entrepreneurship
9 
(PRESENT) Program. -  The PRESENT Program shall be established as a flagship
10 
program of government. The objective of the PRESENT Program is to progressively
11 
improve the position and benefits derived by a big number of the poor, marginalized
12 
and basic sectors derived from economic subsector development and growth. It shall
13 
do this by identifying strategic economic subsectors with the potentials for growth and
14 
where the poor are concentrated or could be major players. In the process, it shall
15 
identify and develop key SEs and resource institutions as partners in providing
16 
transactional and transformational services towards poverty reduction. SEs shall be
17 
developed as vehicles to ensure that the poor benefit the most from sustainable
18 
subsector development.
19 
The formulation of the PRESENT program shall be guided by the following
20 
principles:
21 
a) 
Promoting sustainable programs that support the development of inclusive
22 
value chains in key economic subsectors, towards reducing inequality in
23 
incomes and increase self-reliance among the poor;
24 
b) 
Enabling SEs to overcome constraints and to take advantage of opportunities
25 
for enhancing the position and benefits of the poor and their living
26 
environments including those that harness innovative approaches in addressing
27 
social problems;
28 
c) 
Development of sustainable mechanisms for the provision of quality and
29 
accessible social services to the 
poor;
30 
d) 
People's empowerment by ensuring the participation of the poor, basic and
31 
marginalized sectors;


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e) 
Gender-sensitivity by ensuring women's equal rights and access to SE's 
resources;
f) 
Ecological soundness in the pursuit of sustainable and equitable development;
g) 
Incorporation of the PRESENT Program in the government's poverty reduction 
drive as a major sustainable and comprehensive strategy; and
h) 
Rationalization of poverty reduction programs by streamlining and coordinating 
the various anti-poverty programs of the government to reduce inefficiency and 
duplication and to improve the effectiveness of each program.
The planning framework of the PRESENT Program and its planning process 
shall ensure that the poor are engaged as primary stakeholders. It shall add value and 
complement ecosystem-based, area-based, community-based and other tools and 
processes in local economic development by promoting and utilizing the economic 
subsector as a strategic unit of analysis and planning SE development interventions.
PRESENT medium-term and annual development plans shall be formulated in 
synchrony with the medium-term development plan of the national government.
Sec. 5. National Enterprise Development Council. -  The existing Micro, Small 
and Medium Enterprise Development (MSMED) Council, which is an attached agency 
of the Department of Trade and Industry, shall be strengthened and expanded to 
effectively spur the growth and development of MSMES and SEs throughout the 
country, and to carry out the policy declared under this Act. It shall now be known as 
the National Enterprise Development Council, herein referred to as the Council.
In addition to the existing functions of the Council as provided under Republic 
Act 9501 or the "Magna Carta for Micro, Small and Medium Enterprises", the Council 
shall serve as the primary agency tasked to carry out the promotion, growth and 
development of social enterprises in the country. To ensure that the Council is able to 
fulfill its additional mandate, there shall be an SE Committee under the Council that 
shall perform the following specific duties:
a) 
Promote social enterprise as a key strategy for reducing poverty and enabling 
inclusive growth;
b) 
Provide oversight for the implementation of the PRESENT Program and 
activities of the Center for Social Enterprise Development (CSED):


1 
c) 
Establish policies, plans, programs and projects to develop and promote SE as
2 
a tool for poverty reduction as part of a comprehensive Social Enterprise
3 
Development Plan fully integrated and consistent with national development
4 
objectives and plans;
5 
d) 
Monitor and evaluate the performance of programs and projects of CSED for
6 
appropriate incentives;
7 
e) 
Submit annual and other periodic reports to the President and the Congress of
8 
the Philippines;
9 
f) 
Promulgate such rules and regulations and exercise such other powers and
10 
functions as may be necessary to carry out the purposes of this Act; and
11 
g) 
Perform such other functions as may be necessary for its effective operations
12 
and the continued enhancement, growth and development of the SE sector.
13 
The SE Committee shall be composed of the DTI, relevant council members
14 
and the following representatives from the SE Sector and SE Service Institutions to
15 
realize these powers and functions:'
16 
a) 
Nine (9) representatives from SEs, three (3) representatives each from the
17 
main island groupings of Luzon, Visayas, and Mindanao;
18 
b) 
Three (3) representatives from SE service institutions; and
19 
c) 
Three (3) representatives from SE advocacy groups.
20 
Sec. 6. Center for Social Enterprise Development. -  There shall be established
21 
a Center for Social Enterprise Development (CSED) under the supervision of the
22 
Council and to be headed by an Executive Director, which shall have the primary
23 
responsibility 
of 
implementing 
comprehensive 
policies 
for 
Social 
Enterprise
24 
Development. Specifically, the CSED shall be responsible for:
25 
a) 
The development and implementation of the PRESENT Program as approved
26 
by the Council, with the following components:
27 
1. Formulation and implementation of social entrepreneurship-oriented
28 
strategic economic sub-sector development plans that shall serve as the
29 
basis for major policies, projects and activities;
30 
2. Capacity Building and Sustainability - The CSED- will work with qualified
31 
Social Enterprise Service Institutions and other intermediaries to design
32 
and 
deliver 
training 
and 
education 
in 
social 
entrepreneurship


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development, institutional start-up or strengthening, human resource 
competency and skills training, business planning and advisory services, 
upgrading of accounting and auditing systems, technical assistance for 
the installation or improvement of management information systems, 
technology 
intervention, 
technology 
incubation/commercialization, 
market studies, and product development competitiveness, business 
matching activities, trade fairs and missions, policy advocacy, disaster- 
resiliency and other related activities.
3. Research and Development - The CSED in coordination with the NEDA, 
DOST, DTI, and other appropriate agencies, research institutions, and 
intermediaries, shall develop and enhance a research and development 
system that:
i. provides studies on opportunities for poverty reduction and SE 
development in key economic subsectors and other inputs for the 
Council to undertake strategic planning for programs and projects;
ii. equip SEs and support institutions with services and technologies 
that are appropriate for enhancing the participation and benefits of 
the poor in various economic subsectors; and
iii. equip SEs and support institutions with innovative, and sustainable 
approaches to improve access of the poor to quality basic social 
services.
4. Information and Marketing Assistance - The CSED shall promote the 
development and expansion of local and foreign markets for the 
products and services of SEs. Towards this, the CSED shall:
i. establish a marketing assistance program that will assist SEs match 
supply with demand in both domestic and foreign markets, as well 
as promote SE products and services through tri-media, trade fairs 
and trade missions; and
ii. develop install and sustain a market information system for SEs with 
the assistance of the DTI and DOT. All government departments, 
agencies, bureaus, research institutions, as well as the Local 
Government Units (LGUs) shall consolidate and continuously update
8


1 
all relevant information and data that would be of use to SEs on a
2 
periodic basis and make such data available in a dedicated website
3 
on the internet.
4 
b) 
Establishment and implementation of criteria and process for the qualification
5 
of SEs that shall be eligible for support and other incentives as provided by this
6 
Act and as approved by the Council;
7 
c) 
Identification of sources of financing for the SE sector not limited to grants,
8 
loans and equity financing for enterprise incubation, start-up and expansion;
9 
d) 
Management of multi-stakeholder convergence programs and activities among
10 
government agencies and private organizations in support of the PRESENT
11 
Program;
12 
e) 
Coordination with the concerned government agencies and local government
13 
units in the development and implementation of the PRESENT Program and
14 
projects.
15 
f) 
Coordination 
with 
social 
enterprise 
stakeholders, 
including 
people's
16 
organizations, non-government organizations, and multi-sectoral and multi-
17 
disciplinary pool of experts from the academe, practicing professionals,
18 
business, industry, youth, women and other concerned sectors to provide
19 
advice and technical assistance on matters pertaining to SEs.
20 
Sec. 7. Role o f LGUs in SE Development -  LGUs shall be encouraged to
21 
incorporate viable SE development plans in their local plans and collaborate with SEs.
22 
Sec. 8. Social Enterprise Development Fund. -  There shall be included in the
23 
budget of the DTI under the annual General Appropriations Act an initial amount of
24 
Nine Hundred Million Pesos (P900,000,000.00) for the establishment of a Social
25 
Enterprise Development Fund (SEDF) which shall be utilized as grants to SEs for the
26 
plans set forth under the PRESENT program.
27 
The SEDF shall be allocated for:
28 
a) Six Hundred Million Pesos (P600,000,000.00) for value-chain financing; and
29 
b) Three Hundred Million Pesos (P300,000,000.00) for enterprise development
30 
services.


1 
After the first year of implementation, such sums as may be necessary to fund
2 
the SEDF shall be included in the budget of the DTI under the annual General
3 
Appropriations Act.
4 
Plans for the utilization of the SEDF shall be developed by the CSED for approval
5 
by the Council.
6 
CHAPTER I I I
7 
INCENTIVES AND BENEFITS FOR SOCIAL ENTERPRISES
8 
Sec. 9. Special Credit Windows. -  The Land Bank of the Philippines,
9 
Development Bank of the Philippines and other government financial institutions shall
10 
establish special credit windows for the unique needs of SEs that are backed by a
11 
guarantee fund, as provided by Section 10 of this Act, for the following purposes:
12 
a) 
Credit line for business development loan or working capital loan to cover the
13 
operational and management expenses of an existing business or income
14 
generating project, including receivable financing or purchase of additional
15 
inventory, soft or intangible investments such as trade fair participation or
16 
acquisition of software or franchise development packages;
17 
b) 
Fixed assets financing to cover acquisition of fixed assets like machineries and
18 
equipment, motor vehicle, or acquisition of lot for project site or construction
19 
of a plant and building and the improvement thereof;
20 
c) 
Value chain financing to cover any of the value chain activities such as
21 
production, processing and marketing;
22 
d) 
Domestic letter of credit or trust receipt to provide a stand-by credit facility for
23 
the SE borrower for the purchase of product inputs, equipment, machinery,
24 
implements, and spare parts, whereby payment of which is guaranteed and to
25 
be made to the seller by the lending institution, provided all documents conform
26 
with the terms and conditions of the credit; and
27 
e) 
Revolving Credit Line for re-lending to finance the livelihood project
28 
requirements of end-borrowers.
29 
Sec. 10. Social Enterprise Guarantee and Surety Fund. -  There shall be
30 
established a Social Enterprise Guarantee and Surety Fund (SEGSF) which shall be
31 
funded from equity contributions of government financial institutions. The SEGSF shall
32 
be administered by the Small Business Corporation to enable SEs to access non
10


1 
collateralized and other appropriate financing while mitigating the risks involved in SE
2 
sector lending, The SEGSF shall be used to provide guarantee cover to participating
3 
financial institutions and other parties in extending financing to SEs: Provided, That
4 
the fund may also be used to cover the performance bond of SEs for their transactions.
5 
Sec. 11. Compliance to Mandatory Allocation o f Credit Resources. -  Loans
6 
granted by financial institutions to Social Enterprises shall be computed by the Bangko
7 
Sentral ng Pilipinas as twice the loan amount for purposes of determining financial
8 
institutions' compliance to the mandatory allocation of credit resources to micro, small
9 
and medium enterprises under Republic Act 9501 or the "Magna Carta for Micro, Small
10 
and Medium Enterprises."
11 
Sec. 12. Public Procurement for Social Enterprises. -  The Government
12 
Procurement Policy Board (GPPB) shall facilitate the full participation of social
13 
enterprises in public procurement processes. In support of this provision, the DBM
14 
shall direct agencies of government to allocate at least ten percent (10%) of their
15 
annual budgets specifically for projects to be procured from social enterprises.
16 
Sec. 13. Insurance for Social Enterprises. -  The Insurance Commission shall
17 
issue the necessary rules and regulations and implement measures to ensure that the
18 
insurance industry shall provide insurance products, both life and non-life, for social
19 
enterprises and their stakeholders among the poor. Furthermore, social enterprises
20 
shall be eligible to be licensed agents or delivery channels for their clients and
21 
constituents.
22 
Sec. 14. Cash Incentives for Persons with Disabilities. -  To level the playing
23 
field and in recognition of the circumstances of start-up SEs primarily employing
24 
PWDs, the SEDF created in Section 8 of this Act shall provide a cash incentive for
25 
every PWD, in accordance with Republic Act 7277 or the "Magna Carta for Disabled
26 
Persons", and other marginalized sectors as may be provided by this law, representing
27 
at least twenty five percent (25%) of the daily minimum wage, until such time that
28 
the said SE is able to achieve financial sustainability.
29 
Sec. 15. Eligibility for Benefits and Incentives. -  In the case of social enterprises
30 
organized as stock corporations, partnerships or sole proprietorships, the following
31 
requirements shall apply to become eligible for benefits and incentives provided by
32 
this Act:
11


1 
a) 
A social enterprise must not be organized as a branch, subsidiary or division of
2 
a private business enterprise, regardless of the size of such private business
3 
enterprise, nor may its policies be determined by a private business enterprise:
4 
Provided, That this shall not preclude a SE from accepting subcontracts from
5 
large private business enterprises or firms or from joining in cooperative or
6 
joint-venture activities with other SEs or foundations practicing Corporate Social
7 
Responsibility (CSR).
8 
b) 
At least sixty percent (60%) of a social enterprise's total expenditures and
9 
profits plows back to the enterprise for the benefit of the poor, and engage in
10 
practices that optimize the benefits for the poor through the provision of living
11 
wages, above-market pricing for economically disadvantaged producers 
and
12 
suppliers, and other such best practices that distribute the profit generated by
13 
the enterprise.
14 
CHAPTER IV
15 
APPROPRIATION AND OTHER PROVISIONS
16 
Sec. 16. Social Entrepreneurship Education in Schools. -  Toward strategically
17 
developing the nation's human resource capability in social entrepreneurship, the
18 
DepEd, TESDA and the CHED shall cause the integration of SE content and inclusion
19 
of SE courses in the curricula at all levels, especially in the secondary and tertiary
20 
levels. A continuing social entrepreneurship education program for out-of-school youth
21 
and adults shall likewise be developed and undertaken.
22 
Sec. 17. Social Enterprise Week. -  In order to institute continuing awareness
23 
on the importance of SEs as a viable government strategy in pursuing poverty
24 
alleviation, the week of the month when this Act shall have been signed into law shall
25 
be declared as the "Social Enterprise Week" and shall be celebrated annually. The
26 
Council shall, through the CSED, be responsible in organizing activities for the event.
27 
Sec. 18. Appropriations. -  The Council shall allocate the initial amount of Fifty
28 
Million Pesos (P50,000,000.00) from the existing MSMED Council Fund to support the
29 
operations and programs of the CSED. Thereafter, such sums as may be necessary
30 
for the continued implementation of this Act shall be included in the budget of the DTI
31 
under the annual General Appropriations Act.
12


1 
The budgetary requirements of the cooperating agencies shall be, incorporated
2 
in their respective budgets. The CSED may raise funds from other sources for specific
3 
projects as may be authorized by law.
4 
Sec. 19. Transitory Provision. -  Within a period of five years, the NEDC shall
5 
facilitate the development and dissemination of tools, and invest in the development
6 
of the capability of SEs to plan, monitor and evaluate their social and financial
7 
performance and outcomes. Further, the NEDC shall evolve socially-acceptable
8 
benchmarks for evaluating the performance of SEs and incorporate such to more
9 
effectively develop and regulate the sector.
10 
Sec. 20. Implementing Rules and Regulations. -  Within ninety (90) days from
11 
the effectivity of this Act, the Secretary of Trade and Industry shall, in consultation
12 
and coordination with the concerned government agencies, promulgate the necessary
13 
rules and regulations for the effective implementation of this Act.
14 
Sec. 21. Separability Clause. -  If any portion or provision of this Act is
15 
subsequently declared invalid or unconstitutional, other provisions hereof which are
16 
not affected thereby shall remain in full force and effect.
17 
Sec. 22. Repealing Clause. -  All other laws, acts, presidential decrees, executive
18 
orders, presidential proclamations, issuances, rules and regulations, or parts thereof
19 
which are contrary to or inconsistent with any of the provisions of this Act are hereby
20 
repealed, amended, or modified accordingly.
21 
Sec. 23. Effectivity. -  This Act shall take effect fifteen (15) days after its
22 
publication in the Official Gazette or in a newspaper of general circulation.
Approved,
13