NEWS and ANNOUNCEMENTS
PROPOSED COOP BANKING ACT OF 2020 CDA-TWG FINAL REVIEW
(Virtual Meeting, 18 November 2020)
As an offshoot of the meeting convened by the Committee on Banks of the House of Representatives and presided by Cong. Cua as Chair of the Committee, held last 10 November 2020, the TWG of CDA-BSP-BANGKOOP was instructed to harmonize and finalize the bill authored by Deputy Speaker Pablo Garcia (HB 7878), Rep. Joy Myra S. Tambunting (HB 7765), and Cong. Sabiniano Canama (HB 2435), titled as the Cooperative Banking Act.
ANNOUNCEMENT: NOTICE TO CDA’S VALUED CLIENTS
As part of the measure taken by the Authority to prevent the spread of the COVID-19 Virus, please be informed that the Head Office will be closed to the general public from November 25, 2020 to December 8, 2020 to give way for thorough disinfection of the office premises.
A Skeleton workforce shall be maintained during this period to ensure all remote transactions are attended to.
For queries, requests and other related services, you may email us at This email address is being protected from spambots. You need JavaScript enabled to view it.. We encourage you to visit our website and www.facebook.com/CDAphgov for official announcements.
(SGD) RAY R. ELEVAZO, CESE, MNSA
Executive Director
NOTICE TO COMPLY WITH SECTION 4 (ww) OF REPUBLIC ACT NO. 11494, OTHERWISE KNOWN AS THE “BAYANIHAN TO RECOVER AS ONE ACT”
MEMORANDUM
TO : ALL COOPERATIVES
FROM : THE CHAIRMAN
SUBJECT : NOTICE TO COMPLY WITH SECTION 4 (ww) OF REPUBLIC ACT NO. 11494, OTHERWISE KNOWN AS THE “BAYANIHAN TO RECOVER AS ONE ACT”
DATE : October 22, 2020
Pursuant to Section 4 (ww) of Republic Act No. 11494, otherwise known as the Bayanihan to Recover As One Act, to state:
“SEC. 4. COVID-19 Response and Recovery Interventions. – Pursuant to Article VI, Section 23(2) of the Constitution, the President is hereby authorized to exercise powers that are necessary and proper to undertake and implement the following COVID-19 response and recovery interventions:
(ww) Provision of a minimum of thirty (30)-day grace period on residential rents and commercial rents of lessees not permitted to work , and MSMEs and cooperatives ordered to temporarily cease operations, falling due within the period of the CQ, without incurring interests, penalties, fees, and other charges: Provided, That all amounts due within the period of CQ shall be amortized in equal monthly installments until December 31, 2020 without any interests, penalties, and other charges: Provided, further, That no increase in rent shall be imposed during the same period: Provided, furthermore, That the minimum thirty (30)-day grace period shall be reckoned from the date of the lifting of the ECQ or MECQ,”
NOTICE TO COMPLY WITH SECTION 4 (vv) OF REPUBLIC ACT NO. 11494, OTHERWISE KNOWN AS THE “BAYANIHAN TO RECOVER AS ONE ACT”
MEMORANDUM
TO : ALL COOPERATIVES
FROM : THE CHAIRMAN
SUBJECT : NOTICE TO COMPLY WITH SECTION 4 (vv) OF REPUBLIC ACT NO. 11494, OTHERWISE KNOWN AS THE “BAYANIHAN TO RECOVER AS ONE ACT”
DATE : OCTOBER 22, 2020
Pursuant to Section 4 (vv) of Republic Act No. 11494, otherwise known as the Bayanihan to Recover As One Act, to wit:
“SEC. 4. COVID-19 Response and Recovery Interventions. – Pursuant to Article VI, Section 23(2) of the Constitution, the President is hereby authorized to exercise powers that are necessary and proper to undertake and implement the following COVID-19 response and recovery interventions:
(vv) Directing all institutions providing electric, water, telecommunications, and other similar utilities to implement a minimum of thirty (30)-day grace period for the payment of utilities falling due within the period of ECQ or Modified Enhanced Community Quarantine (MECQ) without incurring interests, penalties, and other charges: Provided, That after the grace period, unpaid residential, MSME and cooperatives utility bills may be settled on a staggered basis payable in not less than three (3) monthly installments, subject to the procedural requirements of the concerned regulatory agencies in the imposition of such installment plan without interests, penalties, and other charges: Provided, further, That covered institutions under this subsection may offer less onerous payment terms, with the consent of their clients subject to the approval of their respective regulators: Provided, furthermore, That in the case of the electric power sector, the minimum thirty (30)-day-grace period and staggered payment without interests, penalties and other charges shall apply to all payments due within the period of the CQ in the entire electric power value chain to include generation companies, the transmission utility, and distribution utilities,”
IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT NO. 11364, OTHERWISE KNOWN AS THE “COOPERATIVE DEVELOPMENT AUTHORITY CHARTER OF 2019”
The Republic Act No. 11364 (RA 11364), otherwise known as the “Cooperative Development Authority Charter of 2019”, was signed into law by President Rodrigo Roa Duterte last August 08, 2019 and took effect on August 29, 2019.
It accordingly repealed RA 6939 dated March 10, 1990, purposely to strengthen and reorganize the Cooperative Development Authority (AUTHORITY) to carry out the provisions of the Act and those of Republic Act No. 6938, as amended by Republic Act No. 9520, otherwise known as the "Philippine Cooperative Code of 2008". Adopting the statement of the Honorable Senator Juan Miguel F. Zubiri that "This will respond to the clamor of the cooperative sector, to make the Cooperative Development Authority more responsive to the needs of the sector and further promote cooperativism as an effective tool in achieving inclusive growth". (Press Release dated August 10, 2019 as posted at http://legacy.senate.gov.ph/press_release/2019/0810_zubiri1.asp).
