Gocc governance act of 2011 free download as word doc. Governance commission for goccs office of the ombudsman. The oecd guidelines on corporate governance for stateowned enterprises can provide a conceptual framework against which the effectiveness of the governance reforms introduced in the gocc governance reform act of 2011 may be measured. The enactment in june 2011 of the gocc governance act of 2011, otherwise known as republic act r. An act to promote financial viability and fiscal discipline in governmentowned or controlled corporations and to strengthen the role of the state in its governance and management to make them more responsive to the needs of public interest and for other purposes reforms introduced. By an act of our congress, it is a measure that will institutionalize reforms in our countrys public corporate sector. Nda code of governance national dairy authority department of. Corporate governance scorecard for goccs scorecard for goccs ao feb. Administrator refers to the highestranking executive officer who heads. The gocc governance act of 2011 does not contain a provision for implementing rules, for as in the case of important legislations in the past. This act shall be known as the gocc governance act of 2gll.
Asia network on corporate governance of stateowned enterprises seoul, korea 17 may 2011 we thank you for this opportunity to present and discuss the philippine governmentowned and controlled corporation gocc governance act of 2011. Governance act of 2011, the governance commission for goccs gcg has the power to evaluate the performance and determine the relevance of the gocc, to ascertain whether such gocc should be reorganized, merged, streamlined, abolished or privatized, in consultation with the deparunent or agency to which a gocc is attached. Gocc governance act of 2011 aims to curb excesses in the sector and to ensure that goccs are managed in a transparent, responsible, and accountable manner. The governance of goccs is carried out in a transparent, responsible and accountable manner and with the utmost degree of professionalism and effectiveness. Authority refers to the philippine retirement authority board of trustees, trustees, or board, refers to the collegial body that exercises the corporate powers of the authority as specified in section 5.
Industry reform act ra 10150 and provided lowincome electric power consumers the financial flexibility to pay for the full cost of electricity through discounted rates. This article exposes certain weaknesses in the governance structures and principles introduced by gocc governance reform act of 2011 using the organisation for economic co. Goverment owned and contolled corporation gocc report. A critique of recent governance reforms of stateowned. Government financial institution gfi refers to any financial institution or corporation in which the government directly or indirectly owns majority of the capital.
Gocc governance act of 2011 board of directors governance. The gocc governance act of 2011 the game changer an act to promote financial viability and fiscal discipline in governmentowned or controlled corporations and to strengthen the role of the state in its governance and management to make them more responsive to the needs of. The governance commission for goccs gcg was officially constituted on 20 october 2011 pursuant to the gocc governance act of 2011 r. The current governments introduction of soes governance reforms through the passage of the governmentowned and controlled corporations governance reform act of 2011 gocc governance reform act of. Government owned and controlled corporations gocc governance act of 2011, goccs are overseen by the. The phrase governmentowned and controlled corporation gocc, sometimes with an. Act refers to republic act ra 10149, or the gocc governance act of 2011. Eo 201 lays out the salary schedule of the 21 goccs not covered by the gcg as outlined in republic act 10149, otherwise known as the gocc governance act of 2011. This act shall be known as the gocc governance act of 2011. Laying down principles and standards for the creation, management, administration, supervision and liquidation of goccs. Authority llda refers to the laguna lake development authority. More than four years ago, president aquino signed into law the gocc governance act of 2011, principally authored by senate president franklin drilon. These documents lay down, among others, the basic structure of governance, minimum qualifications of directors, and the principal duties of the board of directors and officers of the corporation.
Good governance act 2011 amends section 28 and inserts section 29a of the employment act 2000 in section 281 of the employment act 2000 unfair dismissal, after paragraph i insert j the making of a protected disclosure under section 29a. Gcg, in the exercise of its mandate under section 5c of republic act no. Governance and management to make them more responsive to the needs of public interest and for other purposes be it enacted by the senate and house oj representatlves of the philippines in congress assembled. Governance for goccs code in a formal resolution adopted on 26 april 2012. Appointive directors refer to all members of its board of directorstrustees who are not exofficio members thereof.
Appointive directors refer to all members of the ndas dairy industry board. Appointive directors refer to the members of the dfpcboard of directors, who are not. Ra patients with that in a group of individuals without. Gocc governance act of 2011 free download as pdf file.
Revised whistleblowing policy for the gocc sector, copy of which is attached as annex 14, whistleblowers may report to the governance commission, or to the lbp lfc appropriate bodies, such acts or omission that are illegal, unethical, violate good governance principles, are against. The purpose of the issuance of the manual of corporate. The governance commission is the governments central advisory and oversight body over the public corporate. Governing board, board or ssc refers to the social security commission. The enactment of the overseas absentee voting law republic act ra no. Appointive directors refer to all members of the ndas dairy industry board who are not ex. Governance commission rorl,ovlr,\\t 1 uw, tnl1runiroiuoiuo. Governmentowned and controlled corporation wikipedia. Defining the guidelines in determining the areas or. Affiliate refers to a corporation fifty percent 50 % or less of the outstanding capital stock of which is owned or controlled. Whereas, the governance commission for goccs gcg issued gcg memorandum circular m. Official gazette of the republic of the philippines facebook.
Government owned and controlled corporations gocc governance act of 2011, goccs are overseen by the governance commission for governmentowned or controlled corporations gcg. Appointive directors refer to all members of its board of directors whom the state nominates, or is entitled to nominate, to the extent of its percentage shareholdings. The governance commission for governmentowned or controlled. Soes governance reforms on accountability, transparency, political interference, etc. Rightsizing bill under consideration of congress coverage of the program all departments agencies of the executive branch, including goccs gfis all departmentsagencies of the executive branch, including goccsgfis not covered by ra no.
For purposes of this code, the following terms shall have the following meanings. Which goccs are affected by dutertes eo on salaries. History of goccs in the philippines, the use of the corporate vehicle has been recognized as an efficient way to manage government assets. As the central oversight and policymaking body for goccs, one of its primary mandates is to evaluate all goccs and determine whether each should be streamlined, reorganized, or recommended. We passed the gocc governance act ra 10149 to reform and curb the. The gcg act and the philippine competition act inquirer. Metropolitan waterworks and sewerage system manual of. Establishing the framework for reforms in the goccs sponsorship speech on gocc governance act of 2011 s. After section 29 of the employment act 2000 insert whistleblowers. It is the states policy that the governance of goccs shall be carried out in a transparent, responsible and accountable. This act shall be known as the gocc governance act of 2011l.
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