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Implementing Rules and Regulations

Section 34 of the Act states that:

The DTI, Department of Budget and Management and the Bangko Sentral ng Pilipinas are hereby empowered to enforce the provisions of this Act and issue implementing rules and regulations necessary, in coordination with the Department of Transportation and Communications, National Telecommunications Commission on Audit, other concerned agencies and the private sector, to implement this Act within sixty (60) days after its approval.

Failure to issue rules and regulations shall not in any manner affect the executory nature of the provisions of this Act.

In July 14, 2000 or one month after the signing of RA 8792, a set of Implementing Rules and Regulations (IRR) were promulgated by the Department of Trade and Industry, Department of Budget and Management and the Bangko Sentral ng Pilipinas pursuant to the above provision. A copy of the Act as well as the Implementing Rules and Regulations form part of this guideline.


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