Extension of Compliance Time for Foreign Corporations

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Act No. 1565: Extension of Compliance Time for Foreign Corporations

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Title Supreme Court: Extension of Compliance Time for Foreign Corporations

Law: Act No. 1565

Decision Date: Dec 7, 1906

Act No. 1565 amends the time frame for foreign corporations to comply with the provisions of the Corporation Law, extending it from ten to thirteen months, for the benefit of the public.

section seventy

the corporation law

A

Scope and Application

This amendment specifically targets foreign corporations operating in the Philippines.
It provides additional time for these entities to comply with the regulatory requirements set forth under the Corporation Law.

Legislative Process and Expediency

The legislation emphasizes the urgency of the measure by invoking the expedited passage procedure under Section 2 of the Act prescribing the order of procedure by the Philippine Commission.
This provision allows the bill to be enacted without delay, reflecting the public good and necessity for the timely amendment.

Effectivity Clause

The law takes effect immediately upon its passage on December 7, 1906.
This ensures that the extended compliance period is applicable from the date of enactment forward.

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