Question & AnswerQ&A (Act No. 2728)
The Bureau created under Act No. 2728 is the Bureau of Commerce and Industry, and it belongs to the Department of Commerce and Communications.
The principal officers are the Director and Assistant Director of the Bureau of Commerce and Industry. They receive annual compensations of seven thousand two hundred pesos and six thousand pesos, respectively.
The Bureau promotes and expands domestic and foreign trade, industries, mining, fishing, transportation, organizes commercial exchanges, maintains mercantile registers, executes investigations in commerce-related matters, supervises inter-island water transportation, and publishes tariffs of other countries, among others.
The Bureau opens and maintains the Mercantile Register in Manila, acts as the mercantile registrar issuing certified copies of entries upon payment, excluding the shipping register which remains under the Bureau of Customs.
The Bureau can investigate the nature, organization, and resources of businesses, administer oaths, issue subpoenas (including duces tecum), and obtain compulsory court processes if necessary.
A person may be fined up to one thousand pesos, imprisoned for up to one year, or both. If false information is given under oath, penalties prescribed for perjury apply.
The Secretary of Commerce and Communications may appoint commercial agents under the Bureau's direction, prescribing their qualifications, duties, promotions, and removal. Agents serving abroad require consent of the Senate.
The Bureau performs the functions previously handled by divisions in the Philippine Library and Museum, handling registrations of corporations, trademarks, and patents, and maintains related books and records.
The Bureau can organize, maintain, license, regulate, suspend, and abolish commercial exchanges, as well as qualify, license, suspend, or revoke licenses of exchange agents, merchandise brokers, and ship brokers.
The Director of the Bureau shall adopt a uniform and systematic method for preparing all general statistics on commerce, industry, and related fields with approval from the Department Secretary, which must be followed by related bureaus and offices.