From Law

Paradise Lost, Paradise Regained

Tell me, has there been anything more curious lately than the International Consortium of Investigative Journalists (ICIJ)’s “Paradise Papers”? And you probably thought its precursor, the Panama Papers was the end of it. This is truly the Age of Leaks. Not your run-of-the-mill John Milton. (Image: Graphite Publications)

SEC-Approved Public-Private Partnership Listing Rules

A PPP Company may apply for listing under the rules if it is any of the following: (a) a corporation which was awarded a PPP Contract; or (b) a special purpose company (SPC) incorporated by the awarded corporation or awarded joint venture or consortium which shall assume and accede to all rights and obligations of the latter. —SEC

Public-Private Partnerships by Local Government Units

As local government units (LGUs) have strived to carry out the responsibilities and activities devolved to them by the 1991 Local Government Code, they have explored and availed of various financing options including grants, loans, bonds, and public–private partnership (PPP) arrangements. The Local Government Code specifically authorized LGUs with financially viable infrastructure projects to enter into build–operate–transfer (BOT) agreements subject to the 1990 BOT Law and its Implementing Rules and Regulations (IRRs). —ADB

Structuring Public-Private Partnerships

Structuring a BOT-PPP means, in the context of these guidelines, deciding: [a] How functions related to the development and implementation of the project (design, finance, build, operate, maintain, transfer) are allocated between the private and public parties; [b] How the private firm will be paid for undertaking the functions allocated to it; and [c] How risks associated with undertaking these functions or payments to the private firm are allocated between the private and public parties and, more generally, managed. —NEDA

The Public-Private Partnership Law Review

In 1990, Republic Act No. 6957 (the BOT Law) was enacted to provide a legal framework for PPP arrangements, particularly, through BOT and build–transfer (BT) arrangements. Amendments to the BOT Law were introduced in 1994 through Republic Act No. 7718, which serves to broaden the types of PPP schemes and introduce provisions governing unsolicited proposals, direct negotiations and special incentives for certain registered projects. —Marievic G Ramos-Añonuevo and Arlene M Maneja, partners at SyCip Salazar Hernandez & Gatmaitan

Public-Private Partnership Program of the Philippines

Unsolicited proposals for projects may be accepted by any government agency or local government unit on a negotiated basis: Provided, That, all the following conditions are met: [1] such projects involve a new concept or technology and/or are not part of the list of priority projects, [2] no direct government guarantee, subsidy or equity is required, and [3] the government agency or local government unit has invited by publication, for three [3] consecutive weeks, in a newspaper of general circulation, comparative or competitive proposals and no other proposal is received for a period of sixty [60] working days: Provided, further, That in the event another proponent submits a lower price proposal, the original proponent shall have the right to match that price within thirty [30] working days. —Republic Act No. 7718