THE Department of Trade and Industry (DTI) has updated the implementing rules and regulations of the Business Name (BN) Law to incorporate an industry benchmarking system while harmonizing it with the Ease of Doing Business (EoDB) Act of 2018, among other laws.
Department Administrative Order No. 08-07, published in one of the country’s dailies over the weekend, said the revision hopes “to provide streamlined requirements for processing BN applications and promote ease of doing business.”
Overhauling the 2010 revisions made on the IRR of the BN Act of 1931 or Republic Act 3883, the newly issued guidelines also aim to adjust disclosure rules in line with the Data Privacy Act of 2012 or Republic Act 10173 and the Freedom of Information rule under 2016-signed Executive Order No. 2.
“New DAO allows us now to transition from our legacy system into a stronger and more stable system we now refer to as BN NEXT GEN,” Trade Secretary Ramon M. Lopez said in a mobile message yesterday.
He added that the amendments make DTI the “first” to adopt PSIC. A benchmarking system, PSIC provides a detailed classification of industries.
On the EoDB law, the new guidelines removes the requirement for a signed application form for online registrants. Meanwhile, filers of disapproved online applications may seek reconsideration at any DTI office.
The new law also extended the early renewal filing period for certificates nearing expiration, to 180 days from only 90.
The standard information included in the Certificate of Business Name Registration has also been reduced in compliance with the Data Privacy law. Meanwhile, it added provisions to request for the authenticated or certified true copy of the CBN.
It also included refugees and stateless persons as eligible BN applicants.
Mr. Lopez added that amendment will make the system more transparent with inclusion of a QR code which is accessible to the public.
The Business Name Law makes it unlawful for any person to use or sign on any written or printed receipt, agreement or business transaction, any name used in connection with his business, other than his true name, or exhibit in plain view in the place of his business any sign announcing his firm name or business name, without first registering such other name, firm name or business name with the DTI.
Violators can be fined between P50 and P200, or imprisoned between 20 days and three months. — Janina C. Lim