FRIA

12. The rehabilitation proceedings shall commence upon the issuance of the Commencement
Order which shall include a Stay or Suspension Order.

Section 18. Exceptions to the Stay or Suspension Order. - The Stay or Suspension Order shall
not apply:

(a) to cases already pending appeal in the Supreme Court as of commencement

date Provided, That any final and executory judgment arising from such appeal shall be
referred to the court for appropriate action;

(b) subject to the discretion of the court, to cases pending or filed at a specialized court or
quasi-judicial agency which, upon determination by the court is capable of resolving the
claim more quickly, fairly and efficiently than the court: Provided, That any final and
executory judgment of sxuch court or agency shall be referred to the court and shall be
treated as a non-disputed claim;

(c) to the enforcement of claims against sureties and other persons solidarily liable with
the debtor, and third party or accommodation mortgagors as well as issuers of letters of
credit, unless the property subject of the third party or accommodation mortgage is
necessary for the rehabilitation of the debtor as determined by the court upon
recommendation by the rehabilitation receiver;

(d) to any form of action of customers or clients of a securities market participant to

recover or otherwise claim moneys and securities entrusted to the latter in the ordinary
course of the latter's business as well as any action of such securities market participant
or the appropriate regulatory agency or self-regulatory organization to pay or settle such
claims or liabilities;

(e) to the actions of a licensed broker or dealer to sell pledged securities of a debtor
pursuant to a securities pledge or margin agreement for the settlement of securities
transactions in accordance with the provisions of the Securities Regulation Code and its
implementing rules and regulations;

(f) the clearing and settlement of financial transactions through the facilities of a clearing
agency or similar entities duly authorized, registered and/or recognized by the
appropriate regulatory agency like the Bangko Sentral ng Pilipinas (BSP) and the SEC as
well as any form of actions of such agencies or entities to reimburse themselves for any
transactions settled for the debtor; and

(g) any criminal action against individual debtor or owner, partner, director or officer of a
debtor shall not be affected by any proceeding commend under this Act.

13. Section 31.Powers, Duties and Responsibilities of the Rehabilitation Receiver. - The
rehabilitation receiver shall be deemed an officer of the court with the principal duty of preserving
and maximizing the value of the assets of the debtor during the rehabilitation proceedings,
determining the viability of the rehabilitation of the debtor, preparing and recommending a
Rehabilitation Plan to the court, and implementing the approved Rehabilitation Plan, To this end,
and without limiting the generality of the foregoing, the rehabilitation receiver shall have the
following powers, duties and responsibilities:
 (a)To verify the accuracy of the factual allegations in the petition and its annexes;

(b)To verify and correct, if necessary, the inventory of all of the assets of the debtor, and
their valuation;

(c)To verify and correct, if necessary, the schedule of debts and liabilities of the debtor;

(d)To evaluate the validity, genuineness and true amount of all the claims against the
debtor;

(e)To take possession, custody and control, and to preserve the value of all the property
of the debtor;

(f)To sue and recover, with the approval of the court, all amounts owed to, and all
properties pertaining to the debtor;

(g)To have access to all information necessary, proper or relevant to the operations and
business of the debtor and for its rehabilitation;

(h) To sue and recover, with the. approval of the court, all property or money of the
debtor paid, transferred or disbursed in fraud of the debtor or its creditors, or which
constitute undue preference of creditor/s;

(i) To monitor the operations and the business of the debtor to ensure that no payments
or transfers of property are made other than in the ordinary course of business;

(j) With the court's approval, to engage the services of or to employ persons or entities to
assist him in the discharge of his functions;

(k) To determine the manner by which the debtor may be best rehabilitated, to review)
revise and/or recommend action on the Rehabilitation Plan and submit the same or a
new one to the court for approval;

(1) To implement the Rehabilitation Plan as approved by the court, if 80 provided under
the Rehabilitation Plan;

(m) To assume and exercise the powers of management of the debtor, if directed by the
court pursuant to Section 36 hereof;

(n) To exercise such other powers as may, from time to time, be conferred upon him by
the court; and

To submit a status report on the rehabilitation proceedings every quarter or as may be

required by the court motu proprio. or upon motion of any creditor. or as may be
provided, in the Rehabilitation Plan.

Unless appointed by the court, pursuant to Section 36 hereof, the rehabilitation receiver
shall not take over the management and control of the debtor but may recommend the
appointment of a management committee over the debtor in the cases provided by this
Act.

16. Section 86. Cram Down Effect. - A restructuring/workout agreement or Rehabilitation Plan

that is approved pursuant to an informal workout framework referred to in this chapter shall have
the same legal effect as confirmation of a Plan under Section 69 hereof. The notice of the
Rehabilitation Plan or restructuring agreement or Plan shall be published once a week for at least
three (3) consecutive weeks in a newspaper of general circulation in the Philippines. The
Rehabilitation Plan or restructuring agreement shall take effect upon the lapse of fifteen (15)
days from the date of the last publication of the notice thereof.

18. Section 97. Creditors' Meeting. - The presence of creditors holding claims amounting to at
least three-fifths (3/5) of the liabilities shall be necessary for holding a meeting. The
commissioner appointed by the court shall preside over the meeting and the clerk of court shall
act as the secretary thereof, subject to the following rules:

(a) The clerk shall record the creditors present and amount of their respective claims;

(b) The commissioner shall examine the written evidence of the claims. If the creditors
present hold at least three-fifths (3/5) of the liabilities of the individual debtor, the
commissioner shall declare the meeting open for business;

(c) The creditors and individual debtor shall discuss the propositions in the proposed
agreement and put them to a vote;

(d) To form a majority, it is necessary:

(1) that two-thirds (2/3) of the creditors voting unite upon the same proposition;
and

(2) that the claims represented by said majority vote amount to at least three-
fifths (3/5) of the total liabilities of the debtor mentioned in the petition; and

(e) After the result of the voting has been announced, all protests made against the
majority vote shall be drawn up, and the commissioner and the individual debtor together
with all creditors taking part in the voting shall sign the affirmed propositions.

No creditor who incurred his credit within ninety (90) days prior to the filing of the petition shall be
entitled to vote.

PDIC

1. In Section 3, insurance deposit or (g) the term "insured deposit" means the net amount due
to any depositor for deposits in an insured bank (after deducting offsets) less any part
thereof which is in excess of ₱10,000. Such net amount shall be determined according to
such regulations as the Board of Directors may prescribe and in determining the amount due
to any depositor there shall be added together all deposits in the bank maintained in the
same capacity and the same right for his benefit or in his own name or in the names of
others.

2. A. By deposit type
1. Savings
2. Special Savings
3. Demand/Checking
4. Negotiable Order of withdrawal
 5. Time Deposits

B. By deposit account
1. Single
2. Joint
3. In Trust For

C. By currency
1. Philippine Peso
2. Foreign currencies considered as part of BSP’s International reserves

3. R.A. 9576 stipulates that PDIC will not pay deposit insurance for the following accounts or
transactions:
1. Investment products such as bonds, securities and trust accounts
2. Deposit accounts which are unfunded, fictitious or fraudulent
3. Deposit products constituting or emanating from unsafe and unsound banking practices
4. Deposits that are determined to be proceeds of an unlawful activity as defined under the
Anti-Money Laundering Law

4. Single Accounts means individually-owned accounts or accounts held under one name,
while, Joint Accounts regardless of whether the conjunction “and”, “or” or “and/or” is used
shall be insured separately from single accounts.

5. The claim for the uninsured portion of the deposit is a claim against the assets of the closed
bank. The claim may be filed with the Liquidator of the closed bank within sixty (60) days
from publication of notice of closure. However, payment of said claim will depend on the
bank’s available assets and approval of the Liquidation Court. The schedule of payment
beyond the P500,000.00 maximum insurance shall be based on priorities set by law.

6. Required documentation:

a. Original evidence of deposits such as savings passbook, certificate of time deposit, bank
statement, unused checks, and ATM card
b. Two (2) valid photo-bearing IDs with the signature of the depositor/claimant

And submit personally at the PDIC Public Assistance Center or through mail by sending a
duly accomplished and notarized Claim Form and requirements.

DPA

5. Under Section 11, personal information should be processed fairly and lawfully.
6. SEC. 13. Sensitive Personal Information and Privileged Information. – The processing of
sensitive personal information and privileged information shall be prohibited, except in the
following cases:

(a) The data subject has given his or her consent, specific to the purpose prior to the
processing, or in the case of privileged information, all parties to the exchange have given
their consent prior to processing;

(b) The processing of the same is provided for by existing laws and
regulations: Provided, That such regulatory enactments guarantee the protection of the
sensitive personal information and the privileged information: Provided, further, That the
consent of the data subjects are not required by law or regulation permitting the processing of
the sensitive personal information or the privileged information;

(c) The processing is necessary to protect the life and health of the data subject or another
person, and the data subject is not legally or physically able to express his or her consent
prior to the processing;

(d) The processing is necessary to achieve the lawful and noncommercial objectives of public
organizations and their associations: Provided, That such processing is only confined and
related to the bona fide members of these organizations or their associations: Provided,
further, That the sensitive personal information are not transferred to third parties: Provided,
finally, That consent of the data subject was obtained prior to processing;

(e) The processing is necessary for purposes of medical treatment, is carried out by a medical
practitioner or a medical treatment institution, and an adequate level of protection of personal
information is ensured; or

(f) The processing concerns such personal information as is necessary for the protection of
lawful rights and interests of natural or legal persons in court proceedings, or the
establishment, exercise or defense of legal claims, or when provided to government or public
authority.

7. SEC. 14. Subcontract of Personal Information. – A personal information controller may

subcontract the processing of personal information: Provided, That the personal information
controller shall be responsible for ensuring that proper safeguards are in place to ensure the
confidentiality of the personal information processed, prevent its use for unauthorized purposes,
and generally, comply with the requirements of this Act and other laws for processing of personal
information.

8. SEC. 16. Rights of the Data Subject. – The data subject is entitled to:

(a) Be informed whether personal information pertaining to him or her shall be, are being or
have been processed;

(b) Be furnished the information indicated hereunder before the entry of his or her personal
information into the processing system of the personal information controller, or at the next
practical opportunity:
(1) Description of the personal information to be entered into the system;

(2) Purposes for which they are being or are to be processed;

(3) Scope and method of the personal information processing;

(4) The recipients or classes of recipients to whom they are or may be disclosed;

(5) Methods utilized for automated access, if the same is allowed by the data subject, and the
extent to which such access is authorized;

(6) The identity and contact details of the personal information controller or its
representative;

(7) The period for which the information will be stored; and

(8) The existence of their rights, i.e., to access, correction, as well as the right to lodge a
complaint before the Commission.

9. Section 6. Extraterritorial Application. – This Act applies to an act done or practice engaged in and
outside of the Philippines by an entity if:

(a) The act, practice or processing relates to personal information about a Philippine citizen or a
resident;

(b) The entity has a link with the Philippines, and the entity is processing personal information in the
Philippines or even if the processing is outside the Philippines as long as it is about Philippine citizens
or residents such as, but not limited to, the following:

(1) A contract is entered in the Philippines;

(2) A juridical entity unincorporated in the Philippines but has central management and control in
the country; and

(3) An entity that has a branch, agency, office or subsidiary in the Philippines and the parent or
affiliate of the Philippine entity has access to personal information; and

(c) The entity has other links in the Philippines such as, but not limited to:

(1) The entity carries on business in the Philippines; and

(2) The personal information was collected or held by an entity in the Philippines.

10. The notification shall include, but not be limited to:

1. Nature of the breach

2. Personal data possibly involved

3. Measures taken to address the breach

The Commission reserves the right to require additional information, if necessary.

11. Under section 3, a personal information processor refers to any natural or juridical person
qualified to act as such under this Act to whom a personal information controller may outsource the
processing of personal data pertaining to a data subject.

12. The notification shall include the following information:

1. Purpose of processing;

2. Categories of personal data to undergo processing;

3. Category or categories of data subject;

4. Consent forms or manner of obtaining consent;

5. The recipients or categories of recipients to whom the data are to be disclosed;

6. The length of time the data are to be stored;

7. Methods and logic utilized for automated processing;

8. Decisions relating to the data subject that would be made on the basis of processed data

or that would significantly affect the rights and freedoms of data subject; and

9. Names and contact details of the compliance or data protection officer.

13. Under Section 7, the Commission may review such privacy codes and require changes thereto for
purposes of complying with this Act.

14. Under Section 11, the following are subject to the review of the Commission, upon its own
initiative or upon the filing of a complaint by a data subject:

a. Compliance by a personal information controller or personal information processor with the Act,
these Rules, and other issuances of the Commission;

b. Compliance by a personal information controller or personal information processor with the

requirement of establishing adequate safeguards for data privacy and security;

c. Any data sharing agreement, outsourcing contract, and similar contracts involving the processing
of personal data, and its implementation;

d. Any off-site or online access to sensitive personal data in government allowed by a head of
agency;

e. Processing of personal data for research purposes, public functions, or commercial activities;

f. Any reported violation of the rights and freedoms of data subjects;

g. Other matters necessary to ensure the effective implementation and administration of the Act,
these Rules, and other issuances of the Commission.
15. Yes. The lawful heirs and assigns of the data subject may invoke the rights of the data subject to
which he or she is an heir at any time after the death of the data subject or when the data subject is
incapacitated or incapable of exercising the rights set forth by law.

TILA

2. The covered transactions in TILA:

1. Loan

2. Mortgage

3. Deed of trust advance, or discount

4. Conditional sales contract

5. Contract to sell

6. Contract of sale

7. Contract of sale of property or services, either for present or future delivery, under which part

or all of the price is payable subsequent to the making of such sale or contract

8. Rental-purchase contract

9. Contract or arrangement for the hire, bailment, or leasing of property

10. Option, demand, lien, pledge, or other claim against, or for the delivery of, property or money;

11. Any purchase, or other acquisition of, or any credit upon the security of, any obligation of claim

arising out of any of the foregoing

12. Any transaction or series of transactions having a similar purpose or effect