Revised Rules on Registration and Sale of Pre-Need Plans, Pension Plans, Life Plans and Similar Contracts and Investments

February 20, 1984REVISED RULES ON REGISTRATION AND SALE OF PRE-NEED PLANS, PENSION PLANS, LIFE PLANS AND SIMILAR CONTRACTS AND INVESTMENTSPursuant to the provisions of the Revised Securities Act, Batas Pambansa Blg. 178 approved on February 23, 1982, the following rules on the registration and licensing of pre-need plans, pension plans, life plans and similar contracts and investments sold or offered for sale or distribution to the public in the Philippines by individuals, partnerships or corporations are hereby promulgated for the information and guidance of all concerned. cdrepSECTION 1. Scope. — These rules shall apply to the following:a) 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.b) Contracts covering the sale of some form of property on installment which provide for an initial payment and monthly or annual payments which are deposited towards...