December 4, 2017
SEC-OGC OPINION NO. 16-17
RE: EXEMPTION FROM RETAIL TRADE LIBERALIZATION ACT, FOREIGN INVESTMENTS ACT AND ANTI-DUMMY LAW
Goat Management, Inc.
Casa Blanca Family Village
Northern Junob, Balugo Road
Dumaguete City, Negros Oriental
Attention: Atty. Gayle Marie H. Chiong, CPA
Corporate Secretary/Authorized Representative
Attorney :
This refers to your letter dated 18 August 2016, requesting the Commission's opinion on the applicability of the Retail Trade Liberalization Act ("RTLA"), 1 Foreign Investment Act ("FIA"), 2 and the Anti-Dummy Law, 3 to your corporation, Goat Management, Inc. ("Goat Management").
You stated in your letter that Goat Management is a domestic corporation engaged in the business of goat farming management and processing, production and sale of agricultural products such as, but not limited to, dairy products, livestock and crops. You further stated that Goat Management sells exclusively its own products and does not carry any other brand or product on consignment.
You are requesting for SEC's opinion on the following queries:
1. Whether or not Goat Management's nature of business falls within the exemption of the RTLA, thus exempted from complying with the capitalization requirement of US$2,500,000, should it...