NINETEENTHCONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
Ssfiiatf
o( ti)p ^rrsTtnrp
'22 AUG 16 P2 :22
SENATE
s. No. 1182
RECEIVED 3V:
Introduced By Senator Christopher Lawrence "Bong" T. Go
AN ACT
PROVIDING FOR GOVERNMENT FINANCIAL INSTITUTIONS UNIFIED 
INITIATIVES TO DISTRESSED ENTERPRISES FOR ECONOMIC RECOVERY 
(GUIDE)
EXPLANATORY NOTE
Two years ago, the COVID-19 pandemic caused an unprecedented shock for 
both the health care system and economy. In a bid to prioritize the health and 
safety of the people, the National Government Imposed community quarantine 
measures. This enabled the country to reinforce and enhance the capacity of our 
health care system in effectively managing the pandemic.
Although reported cases and deaths in the country are declining, and 
community health restrictions are being eased, the pandemic Is not yet over. The 
restrictions came at a great cost to the economy, directly affecting the livelihoods of 
millions of workers and businesses all over the country. Many micro, small, and 
medium enterprises (MSMEs), which are the primary employers of the country, have 
suffered due to constrained economic activity and the dip in consumer confidence. 
Some strategically important companies (SICs) that contribute significantly to the 
country's gross domestic product (GDP) are facing solvency issues due to the 
decline in economic activity amid the pandemic.
Providing timely and effective assistance to MSMEs and SICs Is crucial to 
ensuring a strong economic recovery. A prolonged period of struggling operations 
could result in a vicious cycle characterized by deteriorating credit profiles, reduced 
investments, continued job losses, financial market disruptions, and eventually 
deeper economic losses.
To this end, the Government Financial Institutions Unified Initiatives to 
Distressed Enterprises for Economic Recovery (GUIDE) bill aims to strengthen the 
capacity of the Land Bank of the Philippines (LandBank) and the Development Bank 
of the Philippines (DBP) in order to provide much-needed access to credit and


financial assistance to distressed businesses, including MSMEs, SICs, and other 
businesses affected by the pandemic.
LandBank and DBP shall be authorized to create a special holding company 
which aims to assist in the rehabilitation of SICs heavily affected by the COVID-19 
pandemic. Equity participation in this special holding company may be held by 
qualified private sector investors. However, to ensure that the policies and 
objectives under the proposed bill are effectively carried out, LandBank and DBP are 
mandated to maintain at least a majority ownership over the special holding 
company until such time that they have recovered or will be able to recover their 
investment.
The special holding company shall be authorized to invest or place funds in 
equity, execute convertible loans, or purchase convertible bonds and/or other 
securities, in said SICs. To ensure that such investments are properly utilized, as 
well as to ensure the successful rehabilitation of SICs, the legislative measure 
imposes strict conditions on the investee company such as requiring that the 
number of employees are not reduced beyond a certain level, limiting its ability to 
declare dividends, restricting the increase in salary and other benefits of the board 
and its senior executive officers, and ensuring that investments of LandBank and 
DBP are not diluted and time-bound with a definite exit mechanism.
The bill will also help lower the overall cost of borrowing for MSMEs. MSME 
support is a critical job-saving intervention, as these enterprises hire approximately 
9 million people or 63% of the workforce. Government financial institutions shall be 
mandated to expand their credit programs in order to assist affected MSMEs in 
meeting their liquidity needs. In particular, LandBank and DBP are mandated to 
expand their loan programs as well as rediscount loans and other credit 
accommodations to affected MSMEs in the agriculture, infrastructure, service, and 
manufacturing Industries.
In view of the urgent need to support hard-hit enterprises and restore 
employment for millions of Filipino workers to ensure a strong economic recovery, 
the approval of this measure is earnestly sought.
SENATOR CHRI STOPHERfLAWRENCE


NINETEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session
^enafe
of (I)e
■22 AUG 16 P2 22
SENATE
S. B. No. 1182
RiXL'i' .L)f!'
Introduced By Senator Christopher Lawrence "Bong" T. Go
1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22 
23
AN ACT
PROVIDING FOR GOVERNMENT FINANCIAL INSTITUTIONS UNIFIED 
INITIATIVES TO DISTRESSED ENTERPRISES FOR ECONOMIC RECOVERY 
(GUIDE)
Be it enacted by the Senate and House of Representatives of the Philippines, in 
Congress assembled:
Section 1. Title. - This Act shall be known as the "Government Financial 
Institutions (GFIs) Unified Initiatives to Distressed Enterprises for Economic 
Recovery (GUIDE) Act of 2022."
Sec. 2. Declaration of Policy. - The substantial disruption of the economy 
due to the community quarantine measures restricted the operation of numerous 
businesses.
The State recognizes the role of these businesses composed of micro, small 
and medium enterprises (MSMEs) and strategically important companies in providing 
employment to the Filipino people and in supporting the Philippine economy. Thus, 
it is essential that these enterprises are given necessary access to credit and 
financial assistance. It is hereby declared the policy of the State to protect 
employment and assist distressed enterprises in order to reinvigorate the economy.
Sec. 3. Definition of Terms. - As used in this Act:
(a) Agribusiness value chain refers to a set of actors/players, such as 
farmers, fisherfolk, traders, suppliers, processors, and aggregators, who 
make up the linked sequence of value-adding activities undergone by an 
agricultural product when converted from raw material to the final form it 
Is presented to the consumers:


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
(b) Micro, Small and Medium Enterprise (MSME) refers to any business 
activity or enterprise engaged in industry, agribusiness and/or services, 
whether single proprietorship, cooperative, partnership or corporation 
whose total assets, inclusive of those arising from loans but exclusive of 
the land on which the particular business entity's office, plant and 
equipment are situated, must have value falling under the following 
categories:
micro
small
medium
not more than PhP3,000,000 
PhP3,000,001 - PhPlS,000,000 
PhP15,000,001 - PhP100,000,000
(c) Senior executive officers refer to top management officials exercising 
responsible and critical roles, as may be described further in the rules 
and regulations to be issued to implement this Act.
(d) Strategically important Companies or SICs shall have the meaning 
ascribed in Section 9(b) of this Act.
CHAPTER 1
Development Bank of the Philippines
Sec. 4. Loan Assistance Program of the Development Bank of the Philippines 
(DBP). — The DBP shall expand its loan program for qualified MSMEs affected by the 
COVID-19 pandemic under this Act and MSMEs covered under Republic Act No. 
11494 or "the Bayanihan to Recover as One Act": Provided, That such loans shall be 
granted in accordance with the rules and regulations to be issued to implement this 
Act and the following guidelines:
(a) Eligible MSMEs under this Act should be engaged in infrastructure, service 
industry, and/or manufacturing business; and
(b) The loans granted hereunder should comply with the applicable prudential 
standards and regulations of the BSP.
The DBP shall likewise extend loans to local government units (LGUs) subject 
to existing rules and regulations.
Sec. 5. DBP Rediscounting and other Programs. — Subject to applicable 
prudential standards and regulations of the Bangko Sentral ng Pilipinas (BSP), the 
DBP may rediscount loans and other credit accommodations to enterprises 
enumerated in Section 4(a) of this Act, granted by BSP- supervised financial 
institutions (BSFIs), the Small Business Corporation (SBC), and those granted 
pursuant to credit programs of the Department of Agriculture-Agricultural Credit


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18 
49- 
20-
24- 
22- 
23- 
24
25-
26- 
27- 
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Policy Council (DA-ACPC) to MSMEs affected by the COVID-19 pandemic engaged in 
infrastructure, service industry, and/or manufacturing business.
The DBP may undertake other similar activities as may be provided under the 
rules and regulations to be issued to implement this Act.
Sec. 6. Increase in DBF's Authorized Capital Stock. — Section 7 of Executive 
Order No. 81, as amended by Republic Act No. 8523, otherwise known as "The 
1986 Revised Charter of The Deveiopment Bank of The Phiiippines", as amended, is 
hereby further amended to read as follows:
"Section 7. Authorized Capitai Stock-Par Value. The capital stock of 
the Bank shall be [Thirty-five billion pesos—(P35,000,000,000.00)]
ONE HUNDRED BILLION PESOS (PHPIOO.000.000.000.00) to
be divided into [Three hundred fifty million- (350,000,000)] ONE 
BILLION (1,000.000.000) common shares with par value of One 
hundred pesos (PhPlOO.OO) per share, which shall be fully subscribed 
by the ^National gGovernment: [Upon the effectivity of this Charter. 
the National Government shall initially subscribe to One- hundred 
twenty-five—million (12S,OOOrOOO)-common shares of stock worth 
Twelve-billion five hundred million-pesos- (P12,500,000,000.00), Five 
bttiion pesos-(P5,000.000.0Q0.00) of which shall be deemed paid^or
by the-government and ■ the balance shall be- paid -for by the 
government out of the stock dividends to be declared by the Bank 
from—its—unappropriated—retained- earnings:—Provided,—That- the 
dividends-due the national government pursuant to Republic Act Na.
7656 shall first bo paid. ] PROVIDED, THAT THE PRESIDENT OF 
THE PHILIPPINES MAY APPROVE THE INCREASE IN THE 
CAPITALIZATION OF THE BANK. UPON THE 
RECOMMENDATION OF THE BOARD AND THE CONCURRENCE 
OF THE SECRETARY OF FINANCE. UP TO SUCH AN AMOUNT 
AS MAY BE NECESSARY TO ATTAIN THE OBJECTIVES OF THIS 
CHARTER."
CHAPTER 2
Land Bank of the Philippines
Sec. 7. Loan Assistance Program of the Land Bank of the Phiiippines 
fLandBank/. — The LandBank shall expand its loan program for qualified MSMEs 
affected by the COVID-19 pandemic under this Act and those covered under 
Republic Act No. 11494 or "the Bayanihan to Recover as One Act": Provided, That 
such loans shall be granted in accordance with the rules and regulations that shall 
be issued to implement this Act and the following guidelines:


1
2
3
4
5
6 
1 
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
(a) Eligible MSMEs under this Act should be engaged in activities in the 
agribusiness value chain; and
(b) The loans granted hereunder should comply with the applicable prudential 
standards and regulations of the BSP.
The LandBank shall likewise extend loans to LGUs subject to existing rules
and regulations.
Sec. 8. LandBank Rediscounting and other Programs. — Subject to applicable 
prudential standards and regulations of the BSP, the LandBank may rediscount loans 
to eligible MSMEs engaged in activities in the agribusiness value chain granted by 
BSFIs, the SBC, and those granted pursuant to credit programs of the DA-ACPC to 
MSMEs affected by the COVID-19 pandemic.
The LandBank may undertake other similar activities for purposes of this Act 
as may be provided under the implementing rules and regulations to be issued.
CHAPTER 3
Special Holding Company
Sec. 9. Creation of Investment Vehicle. — To ensure that Strategically 
Important Companies (SICs) remain solvent, the LandBank and DBP are hereby 
authorized to invest in, or enter into a joint venture agreement to incorporate a 
special holding company (the "SHC") that is a stock corporation to be organized 
under Republic Act No. 11232, otherwise known as "The Revised Corporation Code 
of the Philippines," within six (6) months beginning from the date of effectivity of 
the rules and regulations of this Act, or effectivity of applicable revenue regulations, 
whichever comes later. The establishment, administration, and operation of the SHC 
shall be governed by the following principles:
(a) The purpose of the SHC is to rehabilitate SIC affected by the COVID-19 
pandemic which are experiencing temporary solvency issues:
(b) SICs are Investee companies that are nationally significant, or those with 
high economic returns or high employment potential, and which are 
engaged in any of the following "strategically important Industries or 
sectors," such as, but not limited to, agriculture, construction, education, 
food industry, healthcare. Infrastructure, low-cost and socialized housing, 
manufacturing, power and energy, product distributor/retailer, services, 
tourism and hospitality, transportation and logistics, water and sanitation, 
and other industries to be identified In the rules and regulations Issued to 
implement this Act: Provided, That a SIC must be able to demonstrate 
upstream and downstream linkages to other firms and/or industries, 
substantial employment to the community, and exhibit high degree of


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
process efficiency, cost efficiency, product quality, and environmental 
soundness: Provided, further, That a SIC can show proof of temporary 
solvency problems due to the pandemic, financial soundness prior to the 
pandemic, and credible and sound financial rehabilitation plan.
(c) Equity participation in the SHC may be offered to, and held by, qualified 
private sector investors, including multilateral companies and lending 
institutions, as may be determined by the LandBank and DBP: Provided, 
That majority ownership of the total outstanding capital stock in the SHC 
shall be held by the LandBank and DBP until such time that they have 
recovered or will be able to recover their investment in the SHC;
(d) The LandBank and the DBP shall dispose of their stockholdings in the SHC 
to qualified private sector investors as they may determine. The LandBank 
and DBP shall provide equal opportunity for equity participation in the 
SHC to all qualified investors, including multilateral companies and lending 
institutions. When private shareholdings in the SHC reaches fifty percent 
(50%) of the total outstanding capital stock, the stockholders thereof 
shall cause the adoption and registration with the Securities and Exchange 
Commission (SEC) of the company's amended articles of incorporation 
within three (3) months from such transfer of ownership:
(e) The SHC, as a government-owned or controlled corporation (GOCC), and 
the investments of DBP and LandBank therein, shall be subject to the 
power of the Commission on Audit (COA) to audit and examine GOCCs 
and the investments of government in corporations: Provided, That the 
audit of the SHC by the COA shall not preclude the SHC from engaging 
the services of a private auditing firm when equity participation in the 
SHC is offered to qualified private investors: Provided, further. That even 
if the services of the latter are availed of, the audit report of the COA 
shall serve as the report for purposes of compliance with audit 
requirements as required of a GOCC under applicable law;
(f) The SHC shall devise mechanisms that shall protect the government's 
investment, such as issuing a special class or series of shares, or entering 
into shareholders' or voting share agreements for the purpose as provided 
in the rules and regulations issued to implement this Act.
Sec. 10. Powers of the Investment Vehicle. — The SHC shall have the 
powers granted to a stock corporation under Republic Act No. 11232. Furthermore, 
the power of the SHC to invest shall be subject to the following investment 
guidelines:
(a) To avoid undue risk concentration from excessive exposures, the 
investment of the SHC in an investee company and the total Investment in 
companies belonging to the same industry or sector shall be subject to a


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
ceiling in relation to its net income or capital as prescribed under the 
implementing rules and regulations:
(b) The SHC can only invest in corporations engaged in strategically 
important industries or sectors that are experiencing temporary solvency 
issues because of the COVID-19 pandemic, such as those with 
considerable Impact on the economy:
(c) Such investment shall be in the form of (i) limited equity participation by 
subscription or acquisition of shares, (ii) execution of convertible loans or 
purchase of convertible bonds: and/or (iii) investment in such other 
securities as may be issued by the investee corporations, acceptable to 
the DBP and LandBank: and
(d)The investee company Is eligible based on the requirements in 
Section and in Section 13 of this Act.
this
Sec. 11. Board of Directors of the SHC - The powers and authority of the 
SHC shall be vested in, and exercised by a Board of Directors, hereinafter referred 
to as the "Board," composed of nine (9) members, as follows:
(a) The Secretary of Finance, as ex-officio Chairperson:
(b) The President of the LandBank:
(c) The President of DBP:
(d) The President or Chief Executive Officer of the SHC:
(e) Two (2) independent Directors:
(f) Three (3) directors who shall be appointed by the LandBank, DBP, and 
the private equity investor(s), if any, in proportion to the voting shares 
held in the SHC
The members of the Board shall elect from among themselves the Vice 
Chairperson. The ex-officio members of the Board may designate their respective 
representatives who shall exercise the powers of a director.
Once the private shareholdings in the SHC reaches fifty percent (50%) of the 
total outstanding capital stock, subject to the proviso of Chapter 3, Section 9(c) of 
this Act, the company shall cease to be a GOCC, the ex-officio directors will cease to 
be members of the Board, and the membership of the Board shall be based on the 
election of the directors by the voting shares held by the shareholders, pursuant to 
the provisions of Republic Act No. 11232.
The Board shall provide for an organization and staff of officers and 
employees of the SHC and fix their remunerations and other emoluments. All 
positions in the SHC shall be governed by the compensation, position classification 
system, and qualification standards approved by the Board based on a job analysis 
of actual duties and responsibilities. The compensation plan shall be comparable


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
with the prevailing compensation plans in the private sector and shall be subject to 
periodic reviews once every two (2) years, without prejudice to early merit or 
increases based on the SHC's productivity and profitability. The SHC, being a GOCC, 
shall therefore be exempt from existing laws and the rules and regulations on 
compensation, position classification, and qualification standards in the government 
service.
Sec. 12. Responsibility of the Board and the Employees of the SHC — The 
Board shall set appropriate standards and corporate governance for the investee 
companies that the SHC will invest in. The Board shall likewise institute mechanisms 
to oversee that such standards are followed by the Investee company.
The general rule and the exception therefrom on the liability of public officers 
as provided in Sections 38 and 39 of Chapter 9, Book 1 of the Revised 
Administrative Code of 1987 shall apply to the members of the Board and other 
personnel of the SHC Unless the actions or omissions of the SHC, members of the 
Board and its other personnel are finally adjudged to be in wilful violation of this 
Act, performed in evident bad faith or with gross negligence, they shall be held free 
and harmless to the fullest extent permitted by law from any liability, and they shall 
be indemnified for any and all liabilities, losses, claims, demands, damages, 
deficiencies, costs and expenses of whatsoever kind and nature that may arise in 
connection with the exercise of their powers and performance of their duties and 
functions.
Sec. 13. Requirements for the investee Company. — To be eligible, the 
investee company must not be a party to any pending tax-related cases in court for 
tax collection or tax evasion, must not be a debtor in any bankruptcy proceeding 
prior to the enhanced community quarantine period, and must not be insolvent and 
is capable of being rehabilitated as determined by the SHC
The agreement between the SHC and the investee company must contain the 
following minimum conditions:
(a) The investee company must not reduce the number of employees beyond 
the percentage prescribed by the SHC;
(b) The investee company shall not, without prior authority from the SHC, be 
allowed to issue stock dividends and repurchases during the term of the 
investment:
(c) The investee company shall not issue cash dividends during the term of 
the investment:
(d) The investee company must not increase the salaries, benefits and other 
forms of remuneration of its senior executive officers and members of its 
board:
(e) The investee company shall not provide or grant senior executive officers 
and members of its Board separation pay or retirement pay: Provided,


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
That any amount received by the senior executive officers and members 
of the board which is in violation of the foregoing shall be returned:
(f) The investee company shall not incur Irregular, unnecessary, excessive, 
extravagant or unconscionable expenditures such as entertainment, 
events, office/facility renovations, aviation/transportation services and 
other activities:
(g) The ownership of the SHC In the investee company shall not be diluted 
and a provision protecting the value of the shares of the SHC from market 
transactions such as stock splits, mergers and other forms of 
reorganization and recapitalization shall be included in the agreement: 
and
(h) The investment In the Investee company shall be time-bound with a 
definite exit mechanism.
Provided, further, That additional conditions and provisions may be imposed 
by the SHC to ensure that the investment will be properly utilized and ensure the 
successful rehabilitation of the investee company.
CHAPTER 4
Incentives and Exemption Privileges of the DBPf LandBank. and the SHC
Sec. 14. Tax Exemptions and Fee Privileges. - Any existing law to the 
contrary notwithstanding, the following shall be exempt from documentary stamp 
tax, capital gains tax, creditable withholding income tax, value-added tax, gross 
receipts tax, and such other taxes that may be imposed under Republic Act No. 
8424, or the "National Internal Revenue Code of 1997," as amended, whichever is 
applicable pursuant to the regulations to be issued by the Department of Finance 
(DOF), upon the recommendation of the Bureau of Internal Revenue (BIR):
(a) Loan assistance program, rediscounting and other programs of the DBP 
and LandBank under Chapters 1 and 2 of this Act, respectively, including 
dation in payment [dacion en pago) by the borrower or by a third party in 
favor of the DBP and the LandBank: and
(b) Transactions of the SHC as to its:
(i) 
subscription or acquisition of shares:
(ii) 
execution of convertible loans or purchase of convertible bonds:
(iii) 
investment in such other securities as may be issued by the 
investee corporations, acceptable to DBP and LandBank: and
(iv) 
acquisitions of assets of an investee company.
Transfer of properties in the abovementioned transactions shall also be
subject to the following, in lieu of the applicable fees:


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
(a) Fifty percent (50%) of the applicable mortgage registration and transfer 
fees on the transfer of real estate mortgage and security interest to and 
from DBP, LandBank, or the SHC, as imposed in accordance with the 
existing circulars of the Land Registration Authority (LRA);
(b) Fifty percent (50%) of the filing fees for any foreclosure initiated by the 
DBP and LandBank in relation to loan assistance and rediscounting 
programs as prescribed by the Rules of Court; and
(c) Fifty percent (50%) of the land registration fees prescribed under the 
existing circulars of the LRA.
The tax exemptions and fee privileges in this Section cannot be enjoyed by 
any person not a party to the above transactions except in cases of subsequent 
transfers by the DBP, LandBank, or the SHC to a third party of rediscounted loans 
and other credit accommodations, properties, shares and other assets, acquired 
pursuant to the said transactions.
The incentives enumerated herein may be availed of for a period of three (3) 
years from the date of effectivity of the applicable implementing rules and 
regulations or of the applicable revenue regulations, whichever comes later: 
Provided, That the tax exemption and fee privileges of subsequent transfers may be 
availed of for a period of three (3) years from the date of acquisition by the DBP, 
LandBank, or the SHC; Provided, further, That the Secretary of Finance may extend 
such period by a maximum of three (3) years: Provided, finaiiy. That once the SHC 
ceases to be a GOCC, its tax exemptions and fee privileges under this clause shall 
be automatically revoked.
Sec. 15. Emergency Procurement under the Government Procurement 
Reform Act — In order to ensure the expeditious implementation of their mandates 
under this Act, procurement activities undertaken by the LandBank, DBP, and the 
SHC in light of the COVID-19 pandemic and pursuant to their mandate and functions 
as defined in this Act, shall adopt the rules under Negotiated Procurement under 
Emergency Cases under Section 53(b) of Republic Act No. 9184, or the 
"Government Procurement Reform Act" for a period of three (3) years from the 
effectivity of the implementing rules and regulations to be issued under Chapter 5, 
Section 20 of this Act.
Sec. 16. Other Exemptions of the SHC — The SHC shall be exempt from the 
provisions of Republic Act No. 10149, or the "GOCC Governance Act of 2011."
Further, transactions by the SHC shall be exempt from the provisions of 
Republic Act No. 10667, or the "Philippine Competition Act" for a period of three (3) 
years from its incorporation: Provided, That this exemption shall only apply to 
acquisitions of assets of an investee company by the SHC pursuant to its powers 
under this Act.


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
Any provision of law to the contrary notwithstanding, the disposal of assets of 
an investee company by the SHC pursuant to their mandate and functions, as well 
as the disposal of shares, assets, or investments by LandBank or DBP, or both, in 
the SHC, shall be exempt from the provisions of laws and regulations on government 
disposal of assets.
Sec. 17. Prohibition Against Injunction. - No court, other than the Court of 
Appeals and the Supreme Court, shall issue any temporary restraining order, 
preliminary injunction, preliminary mandatory injunction, status quo order, stay 
order, commencement order, or any other issuance of injunctive relief against the 
sale or acquisitions of assets of an investee company by the SHC, or the disposal of 
assets of an investee company by the SHC, including judicial or extrajudicial 
foreclosure sales or execution sales.
CHAPTER 5
Miscellaneous Provisions
Sec. 18. Ratios, Ceiiings, and Limitations. — For purposes of this Act, the 
Monetary Board may exempt DBP and LandBank from such ratios, ceilings and 
limitations, provided under Republic Act No. 8791 or the "The General Banking Law 
of 2000," for a period as may be determined by the Monetary Board, subject to 
conditions as may be prescribed by the Monetary Board such as, but not limited to, 
the adoption of appropriate risk management measures to mitigate risks that may 
arise from the implementation of this law.
Sec. 19. Appropriations. — The amount of Ten Billion Pesos 
(PhPlO,000,000,000.00) is hereby appropriated out of any funds actually available in 
the National Treasury of the Philippines not otherwise appropriated, as certified by 
the National Treasurer, to fund the following:
(a) 
The amount of Two Billion Five Hundred Million Pesos 
(PhP2,500,000,000.00) for the implementation of Chapters 1 and 3 of this Act: 
Provided, That this amount shall be applied as additional paid-up capital of the DBP, 
for the purposes of lending under the loan assistance program to qualified MSMEs, 
its rediscounting and other programs, and the creation of the SHC: Provided, 
further, That DBP can also utilize funds appropriated under Section 10 of Republic 
Act No. 11494 or "the Bayanihan to Recover as One Act" for the implementation of 
Chapter 1 of this Act; Provided, finaiiy. That the total amount of 
PhP2,500,000,000.00 can be fully utilized, if required, for the equity infusion in the 
SHC; and
(b) 
The amount of Seven Billion Five Hundred Million Pesos 
(PhP7,500,000,000.00) for the Implementation of Chapters 2 and 3 of this Act: 
Provided, That this amount shall be applied as additional paid-up capital of
10


1
2
3
4
5
6
7
8 
9
10
11
12
13
14
15
16
17
18
19
20 
21 
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
LandBank, for the purposes of lending under the loan assistance program to 
qualified MSMEs, rediscounting and other programs of LandBank, and the creation 
of the SHC: Provided,further, That LBP can also utilize funds appropriated under 
Section 10 of Republic Act No. 11494 or "the Bayanihan to Recover as One Act" for 
the implementation of Chapter 2 of this Act; Provided, finally, That the total amount 
of PhPy.SOO.OOO.OOO.OO can be fully utilized, if required, for the equity infusion in 
the SHC;
Sec. 20. Implementing Rules and Regulations — Within thirty (30) days from 
the effectivity of this Act, the DOF, together with the BIR, the BSP, the SEC, the 
DBP, and the LandBank shall jointly promulgate the necessary rules and regulations 
for the effective implementation of this Act: Provided, That the DOF may call upon 
any agency to provide information or assistance in the drafting of the rules and 
regulations: Provided, further, That within thirty (30) days from the effectivity of this 
Act, the DOF, upon recommendation of the BIR, shall promulgate the revenue 
regulations implementing the fiscal incentives under this Act.
Sec. 21. Oversight Committee. - There is hereby created a Joint 
Congressional Oversight Committee (JCOC) to oversee, monitor, and evaluate the 
implementation of this Act. The JCOC shall be composed of five (5) members each 
from the Flouse of Representatives and from the Senate. The JCOC shall be co­
chaired by the Chairpersons of the Flouse Committee on Banks and Financial 
Intermediaries and the Senate Committee on Banks, Financial Institutions and 
Currencies.
The Speaker and the Senate President shall designate the other four 
members of the JCOC of the Flouse and the Senate from among the members of the 
Flouse Committee on Banks and Financial Intermediaries and the Senate Committee 
on Banks, Financial Institutions, and Currencies, at least one member of which shall 
be from the minority.
Sec. 22. Separability Clause. - If any provision of this Act is held 
unconstitutional or invalid, all other provisions not affected thereby shall remain 
valid.
Sec. 23. Repealing Clause. - All laws, decrees, executive orders, rules and 
regulations or parts thereof, which are inconsistent with this Act, are hereby 
repealed, amended or modified accordingly.
Sec. 24. Effectivity. - This Act shall take effect immediately upon its 
publication in the Official Gazette or in a newspaper of general circulation.
Approved,
11