Republic Act 9646
Explanatory Note
By: Rommel R. Dominguez (REBL # 19148R) REBAP Makati
The Philippine real estate practice was regulated by the Ministry Order 39 of the Bureau of Trade Regulation and Consumer Protection of the Department of the Department of Trade and Industrry (DTI-BTRCP 1985 ). In October 22,1987,during the administration of president Corazon Aquino, a Real Estate Service Bill was filled in House of Representative by some groups who wanted the M.O. 39 to have a stronger legislative basis in order to eliminate the colorums. After many generations of Congressmen sat on it for 11 years, it was finally fully deliberated by Senate under the Committee Chairmanship of Senator Panfilo Lacson , recommending approval of Senate Bill 2963 on December 9,2008. On the side of the House of Representatives, they also have their House Bill No. 3514. After 22 years and four (4) Presidents, it was finally approved during the Second Regular Session of the Fourteenth Congress, and jointly enacted upon the House of Representatives on May 12,2009 under leadership of Speaker Prospero Nograles and the Senate under the leadership of Senate President Juan Ponce Enrile.
It was President Gloria Macapagal-Arroyo who signed it into Law on June 29,2009.The law that regulates the real estate practice in the Philippines is now Republic Act No. 9646, entitled Real Estate Service Act of the Philippines.
R.A. 9646 was published in the Philippine Daily Inquirer on July 15,2009. In accordance with Sec. 45 of Republic Act. No. 9646, the Act shall take effect fifteen (15) days following its publication in the Official Gazette or in a major daily newspaper of general circulation in the Philippines. The RA 9646 takes effect August 1,2009.
The most striking part of the R.A. 9646 is
Section 39, Penal Provision states that:
"Any violation of this Act, including violations of implementing rules and regulations, shall be meted the penalty of a fine of not less than One hundred thousand pesos (100,000.00) or imprisonment of not less than two (2) years, or both such fine and imprisonment upon the discretion of the court. In case the violation is committed by unlicensed real estate service practitioner, the penalty shall be double the aforesaid fine and imprisonment.
In case the violation is committed by a partnership, corporation ,association or any other juridical person , the partner, president , director or manager who has committed or consented to or knowingly tolerated such violation shall be held directly liable and responsible for acts as principal or as a co-principal with the other participants, if any."
For Full Details and Copy of the Law visit
http://www.expertbroker.wordpress.com/