Guide to the Magna Carta for Micro Small and Medium Enterprises

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programs to assist MSMEs in all areas, including but not limited to financeand information services, training and marketing.(RA 9501 through Sec. 13 amended Section 11 of RA 6977, as amendedby RA 8289)SEC. 11-A. Composition of the Board of Directors and its Powers. —The SB Corporation corporate powers shall be vested on a Board of Directorscomposed of eleven (11) members which shall include the following:a) The Secretary of Trade and Industry;b) The Secretary of Finance;c) A private sector representative to be appointed by thePresident upon the recommendation of the MSMED Council;d) Seven (7) representatives of the SB Corporation commonstock shareholders who shall be elected based on proportionaldistribution, in accordance with Section 24 of the CorporationCode; ande) The president of the SB Corporation as ex-officio memberand to serve as vice chairman of the Board.The President shall appoint the chairman of the Board from amongits members.All members of the Board so appointed, except for the ex-officiomembers, shall serve for a term of three (3) years without reappointment. Theperson so appointed to replace a member who has resigned, died, or beenremoved for cause shall serve only for the unexpired portion of the term.The Board of Directors shall have, among others, the following specificpowers and authorities:a) Formulate policies necessary to carry out effectively theprovisions of this charter and to prescribe, amend and repealby-laws, rules and regulations for the effective operations ofthe small business corporation;b) Establish such branches, agencies and subsidiaries asmay be deemed necessary and convenient;12
Page 2: Guide to theMagna Carta for Micro,
Page 10: TABLE OF CONTENTSPrefacePageMagna C
Page 16: “i) assuring a balanced and susta
Page 20: SEC. 5. Guiding Principles. — To
Page 24: SEC. 7-A. Composition. — The Coun
Page 28: h) To promote the productivity and
Page 32: ii. Streamline registration process
Page 38: c) Compromise or release, in whole
Page 46: SEC. 16. Micro, Small, and Medium E
Page 50: Department Administrative Order No.
Page 54: that will monitor the economic cont
Page 58: and is generally recognized as such
Page 62: must be owned by Filipino citizens;
Page 66: Rule 6Micro, Small and Medium Enter
Page 70: within fifteen (15) days from their
Page 74: amended by RA 9501, it shall delibe
Page 78: Sec. 6. Monitoring of Progress on M
Page 82: i) Intensification of information d
Page 86:
Statistical and Coordination Board
Page 90:
f) perform ad hoc functions as auth
Page 94:
owners of the outstanding capital s
Page 98:
5. formulate means and methods of a
Page 102:
Rule 13Mandatory Allocation of Cred
Page 106:
Rule 14Micro, Small, and Medium Ent
Page 110:
Rule 17Provision of Amendments for
Page 114:
of this “IRR of the Amendment of
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(2) Wholesale lending of a bank to
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(5) Wholesale lending or rediscount
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Subsection X342.7. Sanctions. The f
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Section 4. Effectivity. This Circul
Page 134:
Consolidated report MSME61
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65Schedule 1A-2
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S. No. 1646H. No. 1754Republic of t
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micro : not more than P3,000,000sma
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Sentral ng Pilipinas, through their
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SEC. 9. Section 8 of the same Act,
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guarantee cover on loans for the bo
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SEC. 10. Section 9 of the same Act,
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accordance to its own bylaws and Ba
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een issued, including those issued
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enforcement and other proceedings,
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Approved,(Sgd.) PROSPERO C. NOGRALE
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number of employees, equity capital
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and provincial offices, shall to th
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“The Department of Trade and Indu
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secondary mortgage and/or rediscoun
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Medium Enterprise Development Counc
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(g) by raising government efficienc
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associations at the local and regio
Page 226:
Sec. 8. Powers and Functions. — T
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(8) provision of bankruptcy prevent
Page 234:
conditions adopted by its Board. It
Page 238:
Sec. 16. Repealing Clause. — All
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Guide to the Magna Carta for Micro Small and Medium Enterprises

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