December 29, 1987
NEW RULES ON THE REGISTRATION AND SALE OF PRE-NEED PLANS AND SIMILAR CONTRACTS AND INVESTMENTS
Pursuant to the provisions of the Revised Securities Act, Batas Pambansa Blg. 178 approved on February 16, 1982, the following rules on the registration and licensing of pre-need plans and/or similar contracts and investments sold or offered for sale or distribution to the public in the Philippines by corporations, are hereby promulgated for the information and observance of all concerned. prcd
SECTION 1. Scope. — These rules shall apply to the following:
a) Pre-need plans like life plan, pension plan, education plan, interment plan and similar contracts and investments;
b) Contracts covering investments of the pooled savings of an individual and/or group of individuals in profitable placements and/or in sound issues of productive enterprises engaged in commercial, industrial and economic ventures, so as to build retirement funds for the participants that will provide them income (annuity certain) starting at a certain date;
c. Contracts covering the sale of some form of property on installment which provide for an initial payment and monthly or...
