EXTENSION OF LANDBANK'S CORPORATE LIFE

15th Congress-House of Representative- Congress of the Philippines
BANKS & FINANCIAL INTERMEDIARIES
Venue: Conf. Rms. 9&10 RVM Bldg.
Time: 09:30 AM
Agenda/Resource Person:
Bills proposing amendments to the charters of Development Bank of the Philippines (DBP) and Landbank of the Philippines (LBP):

HB 135 – Merging the LBP and DBP (Rep. Danilo Suarez)
HB 3731 – Authorizing the merger of the DBP and the LBP with DBP as the surviving entity (Rep. Rex Gatchalian)
HB 4621 – Extending the life of the LBP, further amending RA 3844, otherwise known as the Agricultural Land Reform Code, as amended (Rep. Cresente Paez)

COMMITTEE MEETING:
The 15th Congress House of Representatives- Committee on Banks and Financial Intermediaries held yesterday August 22, 2011 its Committe hearing on the proposed bills.

The Committee invited to attend the President of LANDBANK and DBP. The Congressmen present were Cong. Roilo Golez, Cong. Rufus Rodrigez and others.

The Committee is responsible for evaluation of the bills and conducts public hearings on the proposed legislation.

There were two main issues in the House Bills raised during the Committee Discussion: 1) MERGER of DBP and LBP and
2)EXTENSION of the Corporate Life of LANDBANK.
As part of the Committee Rules, if the Bill Sponsor is absent, the Bill will not be considered for Committee Meeting. There were actually two Bills filed on the merger of LBP and DBP however since the sponsors were absent the bills were scrapped.

Hence, the Committee considered for discussion EXTENSION of LANDBANK Corporate Life. According to Cong. Roilo Golez, there is a need for the EXTENSION of LANDBANK Corporate Life to avoid chaos as LANDBANK is the Official Depository Bank of the Republic. This Bill will also be the legacy of the 15th Congress- House of Representatives.

The Bill will still have a long way to go based on the flowchart of legislative process as it is only number 3 out of the 12 parts.

HOW A BILL BECOMES A LAW

• Flowchart: Legislative Process

1. PREPARATION OF THE BILL
2. FIRST READING
3. COMMITTEE CONSIDERATION / ACTION
4. SECOND READING
5. THIRD READING
6. TRANSMITTAL OF THE APPROVED BILL TO THE SENATE
7. SENATE ACTION ON APPROVED BILL OF THE HOUSE
8. CONFERENCE COMMITTEE
9. TRANSMITTAL OF THE BILL TO THE PRESIDENT
10. PRESIDENTIAL ACTION ON THE BILL
11. ACTION ON APPROVED BILL
12. ACTION ON VETOED BILL

Does it mean ms. sonia that the bill for merging LBP and DBP will no longer be taken up or if the sponsors will be present, it will again be pushed through?

It will not be taken up anymore Mam Emma since the Committee prioritized the extension of LandBank's corporate life.

Ah ok, thanks ms. sonia, good news yan...

However Mam Emma, after the extension of our corporate life we cannot prevent our legislators in filing another bill for the merger.

OK lang ang merger if Land bank as the surviving entity and not the DBP as proposed by Rep. Gathalian.. di hamak naman na mas malaki tayo sa DBP in terms of assets and income.

I agree with you Mam Emms we're lucky enough that Rep. Gatchalian was absent during the Committee hearing hence his bill was not considered. Indeed, we should be the surviving bank because we are the Official Depository Bank of the Philippines, our financial picture is much better than DBP and we have a lot of branches nationwide. I think with the recent controversy involving the top officers of DBP, Rep. Gatchalian might have thought that his proposal for a merger would not be beneficial.

good day, mam sonia ilang years naman po kaya ang extension for corporate life ng organization natin

For Uragon:
Pag nandyan si Uragon masaya ang LBPEA! Nandito kanina si juanpusong naputol daw internet connection nila kasi palagi daw sya sa internet pinaputol daw ng manager nila hahaha


For awin_extreme:
In response to your query Sir Awin, I just read this news article from our newsgram which I will share with you the full text:

Newsgram vol. XXV No. 29 July 18-22, 2011 reports from SPG

Party-list Rep. Cresente Paez and Rep. Jose Ping-ay of Coop NATCCO filed House Bill 4621 pushing for a 50-year extension of the corporate existence of LANDBANK so that it can continuously replicate its past successes in countryside development.

LANDBANK President and CEO Gilda E. Pico lauded the efforts of the two legislators during their recent visit to LANDBANK to discuss strategies and next steps to see this bill through the legislative process within the 15th Congress.

This initiative is very timely and beneficial to LANDBANK and its priority sectors since its existence under the Agrarian Reform Code (RA 3844) expires on August 8, 2013.

Congressman Paez recognized LANDBANK as the biggest lender among cooperatives and the most important ally of the cooperative sector.

According to Paez, LANDBANK has provided the National Confederation of Cooperatives, a federation of rural and urban based cooperatives with 1.6 million individual members, a total of P500 million in credit line.

Part of the strategy is to invite more sponsors to the bill from both the House of Representatives and the Senate. The bill is now pending with the Committee on Banks and Financial Intermediaries chaired by Rep. Sergio Apostol.-reports from SPG


Paez, Cresente C.
Sectoral Representative
PL - COOP NATCCO
Term: 2
House of Representatives, Quezon City
Rm. RVM-428, Phone: 931-5001 local 7055, 9516922
Chief of Staff: Jose Romeo B. Ebron

thanks mam sonia

tama k dyan kaibigang uragon.... kakabit ng landbank ang existence ng LBPEA

...at kakabit ng LBPEA ang mga members na pundasyon ng asosasyon...kaya wag nyo kami iwan...hanggang sa huli.

salamat.