Two incorporators 4 submit authenticated files to sec

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two incorporators, (4) Submit authenticated files to SEC Office, and then (5) Claim certificate ofregistration.Once the business is registered, the Securities and Exchange Commission stillinfluences the construction industry since it is authorized to supervise and have jurisdiction onall corporations and their respective owners as indicated in the Presidential Decree No. 902-A(Pamaos and Labao Law Firm, 2020). In relation to this, Section 5 of the Securities RegulationAct identifies the powers and functions of the Commission which include but are not limited to:(1) possess jurisdiction and supervision over all corporations and partnerships, (2) Establishpolicies and recommendations regarding concerns in the securities market then adviseCongress and other affiliated agencies, (3) Approve, reject, revoke, suspend, or requirerevisions on registration and licensing documents, (4) Regulate and examine the activities ofbusiness owners, (5) monitor the activities of exchanges, (6) impose penalties for violations, (7)prepare, approve or revoke regulations, give proper opinions and provide adequate guidance,(8) support and authorize all enforcement agencies of the government, private institutions,corporations and other entities in the implementation of its powers (Pamaos and Labao LawFirm, 2020). Given this, we can infer that the construction industry is continuously under thesupervision of the Securities and Exchange Commission for the sake of sustaining effective andtransparent markets for the welfare of the stakeholders involved.Department of Labor and EmploymentAccording to Innovations for Poverty Action (n.d.), the Department of Labor andEmployment is authorized as the policymaking, coordinating, programming and serves as theadministrative institution of the Executive Branch of the government in the area of labor andemployment. It manages the responsibilities of promoting employment opportunities as well asenhancing the development and utilization of the country’s labor force while providing fair andlenient working conditions & terms of employment and preserving industrial harmony throughencouraging balanced, just, and stable employment relations which will ensure the protection ofthe rights for all affiliated individuals. Aside from this, the Department of Labor and Employmentserves over 40 million workers which composes of the country’s labor force including those in34
the formal, informal, private and public sectors. In addition to this, the Department of Labor andEmployment also caters to employers, non-government organizations (NGOs), groups,academe, international organizations (e.g., ILO, IOM, UNDP, UNICEF), internationalorganizations which include but are not limited to the host countries of Overseas FilipinoWorkers (OFWs) and other government agencies as well as stakeholders (Republic of thePhilippines: Department of Labor and Employment, n.d.).

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Term
Fall
Professor
N/A
Tags
Metro Manila, SM Prime Holdings, Makati Development Corporation, A Monolith Construction Development Corporation, Monolith Construction and Development Corporation

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