Article 114Act No. 3815, Sec./Art. 114

Treason.-Any person who, owing allegiance to the United States or the Government of the Philippine Islands, not being a foreigner, levies war against them or adheres to their enemies, giving them aid or comfort within the Philippine Islands or elsewhere, shall be punished by reclusion temporal to death and shall pay a fine not to exceed 20,000 pesos.

No person shall be convicted of treason unless on the testimony of two witnesses at least to the same overt act or on confession of the accused in open court.

REVISED PENAL CODE TEXT AND SPECIAL PENAL LAWS

(1)

Permissible

franchising,

licensing,

exclusive

merchandising or exclusive distributorship agreements

such

as

those

which

give

each

party the right to

unilaterally terminate the agreement; or

(2) Agreements protecting intellectual property rights,

confidential information, or trade secrets;

(f)

Making

supply

of

particular

goods

or

services

dependent upon the purchase of other goods or services

from the supplier which have no direct connection with

the main goods or services to be supplied;

(g) Directly or indirectly imposing unfairly low purchase

prices

for

the

goods

or

services

of, among others,

marginalized agricultural producers, fisherfolk, micro-,

small-, medium-scale enterprises, and other marginalized

service providers and producers;

(h) Directly or indirectly imposing unfair purchase or

selling price on their competitors, customers, suppliers or

consumers, provided that prices that develop in the

market as a result of or due to a superior product or

process, business acumen or legal rights or laws shall not

be considered unfair prices; and

(i) Limiting production, markets or technical development

to the prejudice of consumers, provided that limitations

that develop in the market as a result of or due to a

superior product or process, business acumen or legal

rights or laws shall not be a violation of this Act:

Provided, That nothing in this Act shall be construed or

interpreted

as

a

prohibition

on

having a dominant

position in a relevant market or on acquiring, maintaining

and increasing market share through legitimate means

that

do

not

substantially

prevent,

restrict or lessen

competition:

Provided, further, That any conduct which contributes to

improving production or distribution of goods or services

within the relevant market, or promoting technical and

economic progress while allowing consumers a fair share

of

the

resulting

benefit

may

not

necessarily

be

considered an abuse of dominant position:

Provided, finally, That the foregoing shall not constrain

the Commission or the relevant regulator from pursuing

measures that would promote fair competition or more

competition as provided in this Act.

CHAPTER IV MERGERS AND ACQUISITIONS

Section 16. Review of Mergers and Acquisitions. — The

Commission shall have the power to review mergers and

acquisitions based on factors deemed relevant by the

Commission.

Section 17. Compulsory Notification. – Parties to the

merger

or acquisition agreement referred to in the

preceding section wherein the value of the transaction

exceeds

one

billion

pesos

(P1,000,000,000.00)

are

prohibited from consummating their agreement until

thirty

(30)

days

after

providing

notification

to

the

Commission in the form and containing the information

specified in the regulations issued by the Commission:

Provided, That the Commission shall promulgate other

criteria, such as increased market share in the relevant

market in excess of minimum thresholds, that may be

applied specifically to a sector, or across some or all

sectors, in determining whether parties to a merger or

acquisition

shall

notify

the

Commission

under

this

Chapter.

An

agreement

consummated

in

violation

of

this

requirement

to

notify

the

Commission

shall

be

considered

void

and

subject

the

parties

to

an

administrative fine of one percent (1%) to five percent (5%)

of the value of the transaction.

Should

the

Commission

deem

it

necessary,

it may

request further information that are reasonably necessary

and directly relevant to the prohibition under Section 20

hereof from the parties to the agreement before the

expiration of the thirty (30)-day period referred. The

issuance of such a request has the effect of extending the

period

within

which

the

agreement

may

not

be

consummated for an additional sixty (60) days, beginning

on the day after the request for information is received by

the parties: Provided, That, in no case shall the total

period for review by the Commission of the subject

agreement

exceed

ninety

(90)

days

from

initial

notification by the parties.

When the above periods have expired and no decision

has been promulgated for whatever reason, the merger

or acquisition shall be deemed approved and the parties

may proceed to implement or consummate it. All notices,

documents and information provided to or emanating

from the Commission under this section shall be subject

to confidentiality rule under Section 34 of this Act except

when the release of information contained therein is with

the consent of the notifying entity or is mandatorily

required to be disclosed by law or by a valid order of a

court of competent jurisdiction, or of a government or

regulatory agency, including an exchange.

In the case of the merger or acquisition of banks, banking

institutions,

building

and

loan

associations,

trust

companies,

insurance

companies,

public

utilities,

educational institutions and other special corporations

governed by special laws, a favorable or no-objection

ruling by the Commission shall not be construed as

dispensing

of

the

requirement

for

a

favorable

recommendation by the appropriate government agency

under

Section

79

of

the

Corporation

Code

of

the

Philippines.

A favorable recommendation by a governmental agency

with

a

competition

mandate

shall

give

rise

to

a

disputable presumption that the proposed merger or

acquisition is not violative of this Act.

Section 18. Effect of Notification. — If within the relevant

periods

stipulated

in

the

preceding

section,

the

Commission

determines

that

such

agreement

is

prohibited under Section 20 and does not qualify for

exemption

under

Section

21

of

this

Chapter,

the

Commission may:

(a) Prohibit the implementation of the agreement;

(b) Prohibit the implementation of the agreement unless

and until it is modified by changes specified by the

Commission.

(c) Prohibit the implementation of the agreement unless

and until the pertinent party or parties enter into legally

enforceable agreements specified by the Commission.

Section 19. Notification Threshold. – The Commission

shall, from time to time, adopt and publish regulations

stipulating:

(a) The transaction value threshold and such other criteria

subject to the notification requirement of Section 17 of

this Act;

(b) The information that must be supplied for notified

merger or acquisition;

(c)

Exceptions

or

exemptions

from

the

notification

requirement; and

(d) Other rules relating to the notification procedures.

Section

20.

Prohibited.

Mergers

and

Acquisitions. –

Merger

or

acquisition

agreements

that

substantially

prevent, restrict or lessen competition in the relevant

market or in the market for goods or services as may be

determined by the Commission shall be prohibited.

Section 21. Exemptions from Prohibited. Mergers and

Acquisitions.

–

Merger

or

acquisition

agreement

prohibited

under

Section

20

of

this

Chapter

may,

nonetheless,

be

exempt

from

prohibition

by

the

Commission when the parties establish either of the

following:

(a) The concentration has brought about or is likely to

bring about gains in efficiencies that are greater than the

© Compiled By RGL

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