AN ACT TO REGULATE THE PRE-NEED PLANS INDUSTRY OF THE PHILIPPINES

RESOLUTION URGING THE SENATE COMMITTEE ON BANKS, FINANCIAL INSTITUTIONS AND CURRENCIES TO LOOK INTO WITH DISPATCH, IN AID OF LEGISLATION, THE MANNER BY WHICH THE PREVAILING RULES ON THE REGISTRATION AND SALE OF PRE-NEED PLANS UNDER THE SECURITIES REGULATION CODE OR REPUBLIC ACT NO. 8799 ARE BEING IMPLEMENTED, SPECIFICALLY IN RELATION TO THE ESTABLISHMENT OF TRUST FUNDS FOR SUCH PLANS BY BANKS AND INVESTMENT HOUSES DULY LICENSED BY THE MONETARY BOARD OF THE BANGKO SENTRAL NG PILIPINAS WITH THE END IN VIEW OF ENACTING LEGISLATIVE MEASURES TO ADDRESS THE PROBLEMS RESPONSIBLE FOR THE CLOSURE OF CERTAIN RURAL BANKS AND PRE-NEED COMPANIES

RESOLUTION DIRECTING THE SENATE COMMITTEE ON TRADE AND COMMERCE, TO CONDUCT AN INQUIRY, IN AID OF LEGISLATION, TO PROTECT THE INTERESTS OF PRE-NEED PLANHOLDERS AS CONSUMERS IN LIGHT OF THE REPORTED IMPENDING COLLAPSE OF THE PRE-NEED INDUSTRY, WITH THE END IN VIEW OF DETERMINING APPROPRIATE MEASURES TO PROVIDE ADEQUATE PROTECTION AND SECURITY TO CONSUMERS OF THE PRE-NEED INDUSTRY

RESOLUTION DIRECTING THE PROPER SENATE COMMITTEE TO CONDUCT AN INQUIRY, IN AID OF LEGISLATION, ON THE ALLEGED IMPENDING COLLAPSE OF THE PRE-NEED INDUSTRY

RESOLUTION CALLING FOR THE IMMEDIATE RESIGNATION OF THE OFFICIALS OF THE SECURITIES AND EXCHANGE COMMISSION AND STRONGLY CONDEMNING THEIR INCOMPETENCE, FAILURE AND INUTILITY IN PERFORMING THEIR MANDATE TO PROTECT THE PUBLIC FROM PREDATORY AND UNSCRUPULOUS PRACTICES OF INDIVIDUALS AND COMPANIES ESPECIALLY IN THE PRE-NEED INDUSTRY SUCH AS THE LEGACY CONSOLIDATED PLAN CAUSING THE LOSS OF MILLIONS OF PESOS IN INVESTMENTS OF THOUSANDS OF PLAN-HOLDERS WHO WERE VICTIMIZED BY THESE COMPANIES

RESOLUTION EXPRESSING THE SENSE OF THE SENATE THAT IT IS IMPERATIVE UPON THE DEPARTMENT OF JUSTICE TO ACT WITH DISPATCH AND EXPEDITIOUSLY RESOLVE ALL CASES FILED AGAINST CELSO DELOS ANGELES AND OTHER OFFICERS OF THE LEGACY GROUP OF PRE-NEED COMPANIES AND RURAL BANKS SO THAT JUSTICE IS SERVED TO ALL INJURED LEGACY PLANHOLDERS AND DEPOSITORS

RESOLUTION EXPRESSING THE SENSE OF THE SENATE THAT VICTIMS OF FAILED PRE-NEED COMPANIES AND INVESTMENT SCAMS SHOULD BE CONSIDERED AS 'INDIGENT LITIGANTS' AND THEREFORE, EXEMPT FROM PAYING LEGAL AND FILING FEES CHARGED BY THE DEPARTMENT OF JUSTICE AND SUPREME COURT OF THE PHILIPPINES