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Proposed Gift Check Non-Expiry Act

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Proposed Gift Check Non-Expiry Act
« on: November 11, 2017, 04:52:46 PM »
STATEMENT BY THE

HONORABLE HENRY C. ONG
2nd District of Leyte
Vice Chair, Committee on Banks & Financial Intermediaries
Member, Committees on Transportation, Visayas Development,
Economic Affairs, and 8 other committees

SOLON CALLS ON DTI, BUSINESS TO BE READY FOR GIFT CHECK NON-EXPIRY ACT THIS CHRISTMAS

The proposed Gift Check Non-Expiry Act, of which I am one of the principal authors, would most likely become law before Christmas.

Both the House and the Senate recently agreed on the bicameral conference committee report. The bill will soon be transmitted to the Office of the President for signature of President Rodrigo Roa Duterte.

To speed up the implementation of the Gift Check Non-Expiry Act, the Department of Trade and Industry (DTI) needs only to update its Department Administrative Order No. 10-04, series of 2010.

DTI should be updating DAO No. 10-04, series of 2010, and all related issuances by now.

In the updating process, I strongly suggest to the DTI that they find ways to allow the general public to immediately reap the benefits of the new law, so that gift checks that are already in circulation and soon to be released will be covered.

Issuers of gift checks should, by now, accept the fact that this measure will certainly become law and should already have protocols for the redemption or availment of the gift checks during the coming December holidays. They have no excuse on this because they have long been aware of this bill and its progress. (END)

REFERENCES:

https://drive.google.com/file/d/0B0ilL7KAK3i5eGJVYVlXdTAwenM/view
http://www.philstar.com/headlines/2017/08/09/1726937/no-more-expiry-date-gift-certificates
CONFERENCE COMMITTEE INFORMATION
DATE REQUESTED TO FORM A CONFERENCE COMMITTEE: 2017-09-18
CONFERENCE COMMITTEE REQUESTED BY: HOUSE
DATE AGREED TO FORM A CONFERENCE COMMITTEE: 2017-09-20

REMARKS:
CONCOM MEMBERS(HOUSE): Biron, Romualdo, Vergara, Zubiri, Castelo, Sy-Alvarado, Tambunting, Belmonte (J.C.), Ortega (V.N.), Arcillas
CONCOM MEMBERS(SENATE): Zubiri, Gatchalian, Villar, Angara, Aquino
DATE HOUSE AGREED ON CONCOM REPORT: 2017-10-10
DATE SENATE AGREED ON CONCOM REPORT: 2017-10-11

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=88042.msg654132#msg654132
Romans 10:9-10
"If you declare with your mouth, Jesus is Lord, and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you profess your faith and are saved."

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