{"id":104342,"date":"2017-05-28T18:43:34","date_gmt":"2017-05-28T22:43:34","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=104342"},"modified":"2017-05-28T18:43:34","modified_gmt":"2017-05-28T22:43:34","slug":"ogcc-slams-abolition-bill-says-measure-will-hinder-sustained-good-corporate-governance","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/05\/28\/ogcc-slams-abolition-bill-says-measure-will-hinder-sustained-good-corporate-governance\/","title":{"rendered":"OGCC slams ‘abolition bill’, says measure will hinder sustained good corporate governance"},"content":{"rendered":"
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The OGCC stressed such position in response to the House Justice Committee’s deliberation on House Bills (HB) 5216 and 5233 that seek to abolish OGCC as a separate statutory law office and have its functions merged with the Office of Solicitor General (OSG). (Photo: Philippine News Agency<\/a>)<\/figcaption><\/figure>\n

MANILA\u2014 The Office of the Government Corporate Counsel (OGCC) said that the proposals filed in the House of Representatives seeking its abolition will be a hindrance to sustained good corporate governance.<\/p>\n

The OGCC stressed such position in response to the House Justice Committee’s deliberation on House Bills (HB) 5216 and 5233 that seek to abolish OGCC as a separate statutory law office and have its functions merged with the Office of Solicitor General (OSG).<\/p>\n

\u201cThe OGCC’s vital role in nation building is evident in its support to government-owned and controlled corporations (GOCC), government financial institutions (GFI), government corporate entities (GCE), and government instrumentalities with corporate powers (GICP), which seek its assistance,\u201d the position paper read.<\/p>\n

\u201cSince it has been in existence for 81 years, extending help to the GOCC sector deal with specific industries over the years, its lawyers have gained and demonstrated keen understanding of those industries. This combination of experience, exposure and expertise that can only be acquired over the passage of time inspires client confidence,\u201d it added.<\/p>\n

“Clients are assured that they can work with attorneys who not only understand how the law works in a particular case, but who also understand how laws impact them in their industry. The OGCC and its lawyers have ably brought that knowledge to the table in order to help their clients make informed choices and decisions,” said the OGCC in its Position Paper.<\/p>\n

The GOCC sector is a PHP4.9 trillion portfolio. Its contribution to national development cannot be denied. It is thus logical that its statutory counsel, which is tasked to provide them legal compass must not be abolished, but strengthened. With better regulation by the Governance Commission for GOCCs, created by RA 10149 and legal representation from OGCC, the already improved performance of the GOCCs will be further enhanced.<\/p>\n

Newly appointed Government Corporate Counsel Rudolf Philip B. Jurado said that \u201cbetter corporate governance across the sector was also observed, thus lending credence to the adage that good governance in fact results in good economics.<\/p>\n

In all the GOCCs’ strides and successes over the years, the OGCC has been their effective partner quietly working along their side,\u201d he added.<\/p>\n

GCC Jurado emphasized that while the effort to further strengthen the OSG is timely, the proposed legislation erred in seeking OGCC\u2019s dissolution.<\/p>\n

For over eight decades, the government corporate sector constantly relied on and has been assisted by OGCC – – a specialized legal arm statutorily organized for such specific purpose. As various GOCCs, GFIs, GCEs and GICPs pursue their respective mandates, OGCC\u2019s legal services and advice have been a constant succor for them. With the recognition that they play a unique and special role in national development, the latest of which being the passage of Republic Act (RA) 10149, strengthening OGCC as statutory counsel becomes imperative.<\/p>\n

The GOCC sector\u2019s growth and its units\u2019 positive contributions to the government\u2019s coffers cannot be ignored. In the past six years alone, a total of PHP171 billion in dividends remittance has been recorded.<\/p>\n

Over the years, the OGCC has done its share in protecting the government\u2019s multi-trillion assets and equities through its contextualized knowledge of the clients\u2019 needs and its industry awareness. OGCC lawyers have developed, over the years, \u201ca contextualized knowledge that GOCC clients highly value.\u201d<\/p>\n

Earlier, Speaker Pantaleon Alvarez of Davao del Norte, House Majority Leader Rodolfo Fari\u00f1as of Ilocos Norte and House justice panel Chairman Reynaldo Umali of Oriental Mindoro have filed House Bill 5233 seeking to abolish the PCGG and OGCC and transfer all its authorities and responsibilities to the OSG, whose head will have the rank of a Cabinet secretary.<\/p>\n

The bill, which will become the OSG charter, proposes to authorize the solicitor general to grant immunity from criminal prosecution to any person who provides information or testifies in any investigation previously conducted by the PCGG or future cases investigated by the OSG involving ill-gotten wealth.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u2014 The Office of the Government Corporate Counsel (OGCC) said that the proposals filed in the House of Representatives seeking …<\/p>\n","protected":false},"author":33,"featured_media":104343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[19605,19604],"class_list":["post-104342","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","tag-abolition-bill","tag-ogcc","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/104342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=104342"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/104342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/104343"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=104342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=104342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=104342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}